Stockbroker Morgans has started rustling up interest in...

Stockbroker Morgans has started rustling up interest in debt-laden sulphate of potash producer Kalium Lakes, trying to put a syndicate together for a potentially company-saving equity recapitalisation.Morgans’ brokers were all over Australia’s small-cap managers and resources specialists on Wednesday, booking them for meetings with Kalium Lakes management and making the most of a small bump in the under-fire company’s share price.Kalium Lakes is making a trip to the capital markets, for the second time in less than one year. BloombergFund managers said they had yet to see the proposed terms, but were sent a bunch of background information and a detailed pitch that was in line a Kalium Lakes’ investor presentation published late last month.They’re expecting about a $25 million equity deal,It will be interesting to see Kalium Lakes and Morgans can tempt some Australian institutions back on to its share register. Domestic fundies had all but given up on the stock, accounting for only a few per cent of its issued equity. They were scared off by Kalium Lakes’ capital structure.Kalium Lakes is trying to fix the capital problem, knocking together an equity raising at the same time it restructures its debt.The group had debt facilities worth $179.1 million at June 30, including capital from German bank KfW and the Northern Australia Infrastructure Fund, and a $109 million market capitalisation prior to this week’s trading halt. (AFR)