Kalium Lakes Ltd (AU:KLL) has released an update.
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Kalium Lakes Limited faced operational challenges at its Beyondie Sulphate of Potash Mine, leading to missed production targets and funding issues, resulting in the suspension of trading and appointment of administrators and receivers. A recapitalisation proposal was accepted, leading to a company restructure and share consolidation, with new directors appointed and shares reissued. While the main operating subsidiaries for Beyondie were liquidated, efforts to return the company’s shares to trading on the ASX are underway.
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