Kalium Lakes has completed its $58m placement and SPP and Macquarie returns from restriction with an unchanged Outperform rating and 40c target.

The miner is now well funded, the broker notes, to complete the ramp-up of Beyondie's 90ktpa sulphate of potash plant and to also undertake an expansion to a 120ktpa production rate.

The ramp-up is key to Kalium cashing in on current high SOP prices and realising the longer term value the broker believes the project has to offer.

Sector: Materials.

Target price is $0.40.Current Price is $0.16. Difference: $0.24 - (brackets indicate current price is over target). If KLL meets the Macquarie target it will return approximately 60% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena