What’s happening with the Kalium Lakes (ASX:KLL) share price?

Sulphate of potash, or SOP, is commonly used as a fertiliser.
The post What’s happening with the Kalium Lakes (ASX:KLL) share price? appeared first on The Motley Fool Australia. –

The Kalium Lakes Ltd (ASX: KLL) share price can’t decide which way to go in morning trade today. At the time of writing, it’s up and down between its price of 23.5 cents at yesterday’s close and a 2% gain to 24 cents apiece.

Below we take a look at the latest update from the ASX resource share.

What did Kalium report?

The Kalium lakes share price is seeking direction today after the company provided a commissioning update on its Beyondie SOP Project in Western Australia.

According to the release, Kalium has pumped mor than 113,000 tonnes of contained SOP (sulphate of potash) as at end July 2021. It also has 90,000 tonnes of potassium salts stockpiled, which corresponds to some 9,000 tonnes of SOP production.

With harvesting operations running uninterrupted and on track, Kalium expects first production of SOP in late September.

The ASX resource share also reported that costs to complete construction and commissioning activities are within its capital expenditure budget.

Commenting on the progress, Kalium CEO Rudolph van Niekerk said:

Having installed a robust network of brine supply and evaporation ponds, we continue to reap the bounty of large volumes of potassium salts above the plant feed cut-off grade, which are harvested and delivered to the ROM pad. With this ample supply of potassium salts, we have expanded our stockpile area and will soon be ready to move from commissioning to production.

Kalium reported that the potassium salt – including what’s already been harvested and what’s ready for harvest – accounts for around 6 months of SOP production during the ramp-up period.

Niekerk added, “We are entering the final phase of the project and, with several areas of the plant ready for water commissioning, there are only a couple of months to go before commencement of SOP production.”

Kalium Lakes share price snapshot

Over the past 12 months, the Kalium Lakes share price has gained 68%, well outpacing the 26% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date, Kalium Lakes shares have continued to outperform the benchmark, up 18% in 2021.

The post What’s happening with the Kalium Lakes (ASX:KLL) share price? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Kalium Lakes right now?

Before you consider Kalium Lakes, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Kalium Lakes wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

ASX 200 midday update: GUD results, Woodside update, ANZ appointment

The Zip (ASX:Z1P) share price is zooming higher once more
Amazon investors get a reality check

Here’s why the Creso Pharma (ASX:CPH) share price is up 7%
Here’s why the Raiz (ASX:RZI) share price is storming 8% higher today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!