A recent site visit to operations at the Beyondie Sulphate of Potash (SOP) project has given Morgans confidence to move to an Add rating from Speculative Buy and raise the target price to $0.27 from $0.229. The analyst now has higher confidence in production capacity.
Drainage work on the lakes is complete, the evaporation ponds are rapidly approaching completion and trial harvesting has been undertaken, outlines the broker. The company is considered prepared for commissioning the operation this year.
Sector: Materials.
Target price is $0.27.Current Price is $0.20. Difference: $0.07 – (brackets indicate current price is over target). If KLL meets the Morgans target it will return approximately 26% (excluding dividends, fees and charges – negative figures indicate an expected loss).
