KLL – Macquarie rates the stock as Outperform

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The company has upgraded resources at Beyondie by around 3%, with measured and indicated resources rising 150%. The upgraded confidence should deliver a material increase in brine reserves, Macquarie believes.

The broker has already factored in a doubling of the current reserves in its mining inventory and adds a further 11%. The bankable feasibility study in September presents the next catalyst. Outperform rating and target raised to $0.65 from $0.60.

Sector: Materials.

Target price is $0.65.Current Price is $0.47. Difference: $0.18 – (brackets indicate current price is over target). If KLL meets the Macquarie target it will return approximately 28% (excluding dividends, fees and charges – negative figures indicate an expected loss).


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