KLL - Kalium Lakes

[Telamelo]

yep, and they don't even seem to be able to leverage the "Ukraine fertiliser shortage" story!!

of the 5 left on my watchlist, in the last 12 months:
KLL down 68%
APC down 57%
TMG down 53%
AMN down 33%
RWD down 24%

add SO4 to above list as it became insolvent/suspended after promising so much

 

[Dona Ferentes]

Kalium has been in a Trading Halt for a week; seems it will go out there offering shares at $0.04 each for $22 million total

 

[SyBoo]

I looked at KLL a little bit (and I do mean a little bit). I read somewhere in their literature that they where going to do reverse flotation. Which concerned me a bit as it is something that SO4 had a problem with.

I've done a bonkers amount of flotation test-work (+15 years) and although I have not done any Salt floats, the little I know about salt flotation is that the K-salts(cons) can be just as easily floated as the Na-salts(waste). Which leads me to ask myself the question “Why choose reverse flotation.”

Anyway there choice of reverse flotation is one of the concerns that I have about KLL. Although, I do like the look of the flot rigs they have purchased.

I do not hold ( and I probably won't).

[Insert DYOR disclaimer here] The above is just a few of my farty thoughts.

 

[Dona Ferentes]

Seems to have been ongoing hiccups

• Unseasonable rain through May/June 2022 impacted pond operations causing delays to salt precipitation
• Keeping trenches desilted, managing gypsum and rapid replacement of bore pumps when failures occur are key aspects of successful brine supply
• Brine supply in summer 2022/23 planned to increase through additional bores added and Sunshine transfer upgrades (2nd pipeline, transfer pumps increased from 2 to 4)

Cost increases over prior year estimate due to:

• Increased costs due to inflationary pressures and supply chain bottlenecks, including labour, energy (diesel & gas), freight & shipping, insurance
• Increased site workforce headcount to bolster operational resources and capability
• Ponds operations harvesting and haulage activities - expect higher equipment usage requirements including for improved grade control
• Sustaining capital cost increases for brine supply infrastructure to sustain brine flows and grade

Scheduling first commercial sales in July 2022 (then a plant shutdown in August)

 

[SyBoo]

Although, at 4¢ I'd have a punt.

 

[sptrawler]

Although, at 4¢ I'd have a punt.

Yes if they get SO4's equipment that is sitting there rotting, they could double their size overnight.
I would rather go to the casino and put the money on red or black, at least there is a 50% chance of a win, am I bitter regarding potash?
You bet I am.

Commissioning 95% done= check
Ready to rock and roll=check
It don't work=check
Lost your money=check.?

As they say, do your own research, I didn't. ?

 

[sptrawler]

Kalium Lakes hunts defence adviser as stock suspended

The listed sulphate of potash producer collected responses to a request for proposal for a defence advisory gig in just the past week.

www.afr.com

Kalium Lakes, the listed sulphate of potash producer whose shares are suspended from trade pending an operational update, has been meeting with investment banks and corporate advisory types, Street Talk has learnt.

 

[farmerge]

Kalium Lakes hunts defence adviser as stock suspended

The listed sulphate of potash producer collected responses to a request for proposal for a defence advisory gig in just the past week.

www.afr.com

Kalium Lakes, the listed sulphate of potash producer whose shares are suspended from trade pending an operational update, has been meeting with investment banks and corporate advisory types, Street Talk has learnt.



View attachment 158829

Aswith these salt lake enterprises of yesteryear, all promised so much and delivered so little.
Been there with some and suffered serious salt burns.

 

[Dona Ferentes]

Kalium Lakes has collapsed into receivership.

Restructuring firm McGrathNicol took control of ASX-listed Kalium on Friday after the potash aspirant failed to find further financial support for its slower-than-expected development at Beyondie Lakes in Western Australia.

Barely two years ago, Kalium was in a race against ASX-listed Salt Lake Potash to be the first producer among a wave of companies trying to extract potash from beneath ephemeral lakes in the Australian outback.

 

[The Triangle]

Aswith these salt lake enterprises of yesteryear, all promised so much and delivered so little.
Been there with some and suffered serious salt burns.

Not the executive team....

They all got paid.

Not the brokers....

They also got paid.

 

[farmerge]

Not the executive team....

They all got paid.

Not the brokers....

They also got paid.

oh so true, only those who got burnt were the suckers who invested their hard earned.

 

[Dona Ferentes]

Kalium Lakes, the listed sulphate of potash producer whose shares are suspended from trade pending an operational update, has been meeting with investment banks and corporate advisory types, Street Talk has learnt.

.... and a different group of corporate advisory types dotting Ts and crossing eyes.

Cents in the dollar.

Update on sale process
The Receivers are pleased to announce that they have entered into an exclusivity period with Reward Minerals Limited (ASX: RWD) for the purpose of agreeing a Share Sale Agreement for the sale of KLL’s subsidiaries, Kalium Lakes Potash Pty Ltd (KLP) and Kalium Lakes Infrastructure Pty Ltd (KLI). These entities comprise all of the Beyondie Project assets, operations and employees of the Kalium Lakes group.

Reward is a potash-focussed advanced stage exploration and development company whose portfolio includes the Kumpupintil Lake and Carnarvon potash projects in northern Western Australia.

In addition to the SSA, Deeds of Company Arrangement are expected to be proposed by Reward for KLP and KLI. Completion of a transaction is anticipated in December 2023 / January 2024.

The Administrators will convene the second meeting of creditors of KLP and KLI no later than 07 Dec 2023 for creditors of those entities to consider those DOCA proposals.