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.
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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.