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

Sulphate of potash, or SOP, is commonly used as a fertiliser.

| More on:
A woman in a green garden shrugs her shoulders, indicating confusion over a company share price

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

  • 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 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.

More on Resources Shares

a tired and sad looking bulldog sits at an office desk with a pen an paper on it and a cup of coffee with his head resting on the desk as he gives a mournful look to the camera.
Resources Shares

After crashing 50%, could this ASX All Ords stock rebound?

Such low starting valuations could help.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Resources Shares

Why did the Fortescue share price fall 7% in October?

Let's review what happened with the ASX 200 mining giant in October.

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Resources Shares

Why did the BHP share price get hammered in October?

ASX 200 investors sent BHP shares sharply lower in October. But why?

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Resources Shares

Gina Rinehart's empire raked in another $5.6 billion. Here's how

Resources and mining continue to dominate the Australian market.

Read more »

two men in business suits sit across from each other at a table with a chess board on it. Both hold their hands to their chins and look down in serious contemplation of their next move.
Resources Shares

'Not ruled out': Could BHP still buy Anglo-American?

This mega-deal might not be as dead as it looks.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Resources Shares

Mineral Resources share price rockets 16% on $1.1 billion news!

ASX 200 investors appear thrilled with Mineral Resources' latest news.

Read more »

Miner looking at a tablet.
Resources Shares

Here are the latest share price forecasts for Fortescue

Let’s unearth what analysts think could happen with this iron ore miner.

Read more »

A businesswoman ponders why her boat is sinking in the ocean.
Resources Shares

Lake Resources share price sinks on quarterly cash flow news

Let's take a look at the highlights of the company's Q3 update.

Read more »