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Kalium Lakes gains 10% on ASX debut

Kalium Lakes Ltd. hit the boards of the ASX on Dec. 22, reaching a peak of 22 Australian cents on its first day as a publicly listed company, which gives it a market capitalization of A$26.8 million.

The Australian potash explorer notched its 10% gain in the last minutes of the session, as trades climbed to over 780,000 shares.

Kalium was originally due to list Dec. 19 following an IPO raising up to A$6.0 million.

The company is focused on developing the Beyondie potash project in Western Australia, which comprises 15 granted exploration licenses and a miscellaneous license that cover about 2,400 square kilometers.