Name of the Project
Beyondie sulphate of potash project (BSOPP).

Location
Western Australia.

Client
Kalium Lakes.

Project Description
A prefeasibility study (PFS) has determined that the BSOPP is technically and financially robust.

The project has a probable reserve of 2.66-million tonnes of sulphate of potash (SoP) grading 6.37 mg/ℓ potassium and 14.2 kg/m³ potassium sulphate.

The development base case envisages the production of 150 000 t/y SoP, with the option to incrementally phase the project through a ramp-up from 75 000 t/y to 150 000 t/y SoP to minimise operational and financial risks.

Two methods to extract the brine have been considered in the PFS:
• pumping from production bores in the basal sands (lower aquifer) and leakage from brine-bearing segments within the palaeovalley clay and fractured/weathered bedrock; and
• pumping from trenches inside the alluvial sediments (upper aquifer) in trenches of up to 8 m deep. It is likely that both methods will be used because of the properties of the different aquifers.

The general mineral processing concept comprises:
• brine winning;
• brine concentration and crystallisation of solid raw materials for the processing plant;
• a processing plant; and
• utilities.

The base case assumes a 21-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a development base case pretax net present value, at a 10% disount rate, of A$388-million and an internal rate of return of 28.7%, with a payback of 3.7 years.

Value
Preproduction capital has been estimated at A$220-million.

Duration
Not stated.

Latest Developments
A recent bookbuild by Kalium Lakes has been oversubscribed and strongly supported by existing and new shareholders, raising A$14.2-million from 33.5-million shares.

The company now expects to be fully funded to complete the bankable feasibility study (BFS) at the Beyondie project, start early site preparation works and provide working capital for the project.

The oversubscribed placement represents a strong endorsement of the first prefeasibility study and reserve completed by an Australian SoP company and the commitment Kalium Lakes has demonstrated since listing.

In addition to the placement, Kalium Lakes is also offering eligible shareholders the opportunity to participate in a share purchase plan to raise A$2-million.

The company is not actively pursuing offtake memorandums of understanding, particularly following discussions with interested parties at the 2017 International Fertiliser Association Conference in Shanghai.

Kalium Lakes is set to move rapidly through the next development phases of the project and deliver its near-term goal of becoming the first Australian SOP producer.

“The current pilot-scale activities are providing vital information that will be incorporated into the BFS and we will also be able to expand those activities for the full-scale development requirements,” Kalium MD Brett Hazelden has said.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Kalium Lakes, tel +61 8 9240 3200 or email info@kaliumlakes.com.au.