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Kalium Lakes raises AUS$48.8 million in capital

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World Fertilizer,

Kalium Lakes has raised AUS$48.8 million from a share placement and institutional entitlement offer, as part of a scheme to raise approximately AUS$61 million in capital for its Beyondie sulfate of potash project in Western Australia.

The company said the placement and institutional entitlement offer saw strong support from both existing shareholders and new investors and will result in the addition of a number of new high quality institutional investors to Kalium Lakes’ share register.

Kalium Lakes’ Chairman, Mal Randall, commented: “The interest received from sophisticated and institutional investors to participate in the funding for the Beyondie sulphate of potash project was particularly strong and well oversubscribed.

“A good mix of new and existing investors participated in the offer and these investors continue to recognise the quality of the project, the long mine life, the low operating cost and the attractive financial metrics.

“On behalf of the Board and our many dedicated employees, I again thank our shareholders, lenders and contractors for their ongoing support.”

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