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A glowing reference from his time working in Democratic Republic of Congo:
I worked as Logistics and Purchasing Manager reporting to Mr André Baya, who was then General Manager of Congo Iron SA, a mine development company based in Brazzaville, Republic of Congo and I have very fond memories of our collaboration.
Honest, persevering and friendly, Mr Baya is a hard worker who does his job well, respecting deadlines and ethics. He is a leader who shares his know-how with his team and knows how to encourage and motivate them to perform at their best. He is careful to allow his employees express themselves and work freely. Concerned about the well-being of all, he knows how to create a pleasant, friendly and collaborative working environment around him.
I will always remember him as a committed Manager who works tirelessly and expects the same from his employees. Straightforward, he has zero tolerance for acts of corruption or embezzlement.
With a very large international experience in the mining and logistics sector, I personally benefited from his support and aura, which made me grow professionally, moving from the position of Head of Department to that of Logistics and Purchasing Manager.
Therefore, I can highly recommend Mr Baya for any business management position because his professionalism, his wide international experience and his human qualities are undeniable assets for any mission entrusted to him.
His Linked In profile makes a very encouraging read.
As a citizen of Mauritius, I have cumulated 24 years of leadership experience, having served as a Country General Manager, Managing Director, Chief Operating Officer, and Chief Executive Officer. Notably, I spent 22 of those years as a residential expatriate, immersing myself in diverse international environments.
Throughout my career, I had the privilege of managing companies in a variety of African nations, including Burkina Faso, Congo-Brazzaville, the Democratic Republic of the Congo, Gabon, Ghana, Guinea, Madagascar, Morocco, Mozambique, Sudan, Zambia, and Zimbabwe. This journey has provided me with hands-on experience and an intimate understanding of the African context, encompassing its rich history, diverse cultures, regulatory constraints, and legislation.
My academic background includes an LLM in International Business Law, which has been crucial in my career. Over the years, I have been primarily involved in the mining sector for 13 years and the logistics sector for 10 years, shaping my expertise within a dozen African countries.
My proficiency in both French and English, alongside my multicultural awareness, allows me to navigate and operate strategically within a wide range of environments. I have achieved success in Arabic, Lusophone, Francophone, and Anglophone countries, fostering strong working relationships and delivering results.
Now, as a Management Consultant, I am passionate about leveraging my expertise to drive growth and make a positive impact in the dynamic and ever-evolving African business landscape.
Very interesting appointment.
Let's hope it turns out more like Fortescue who's shares are +250,000% since listing (if it's the same company) than Sundance Resources:
Following the loss of the Congo mining licence in 2020, Sundance Resources delisted from the Australian Securities Exchange and sued Congo to acquire $8.76 billion in compensation.
As country manager for Sundance, hopefully our new CEO hasn't got a bad reputation with the government.
Exciting period ahead - we've been waiting long enough!!
Good luck all.
Couldn't agree more, 99.
Yes, very encouraging re the timing as cash is precious currently, so unless the EPC was definite (1 month or whatever) why would the Chairman hire a CEO?
I also suspect that the Chairman (with has large shareholding) intends to be very involved in working with Andre going forward.
IMHO - Kore are moving to a new phase where they need someone full time in Congo to run things. Clearly Andre has vast experience in mining projects in and around Congo. Being, or not being on the board has no significance as both CEO's and Executive Directors will have limits on what they can do without full board approval.
Logic'd suggest that paying hefty CEO fees, from 15 April, the Co expects the EPC to be near full agreement?
On the other hand I am not sure what "non-Board member" means; someone having Executive powers without being a Director? This is a Co law matter; maybe the Chairman wants to sign the EPC on Co's behalf because the new guy is a "new guy"?
David Hathorn, Chair of Kore Potash, commented:
"To appoint a CEO with André's experience in both the mining and global agriculture sectors is hugely exciting and, I believe, demonstrates the surefooted ambitions of Kore Potash to become a major potash producer.
"Those of us who take the investment as evidence that all is well - have been buying since 22 March."
That's a shame 99. I was seriously hoping the buys were another example of the historic KP2 leaks! LOL.
The Chairman bought > 31 million shares, but they were bought from Kore direct not from the market. Those of us who take the investment as evidence that all is well - have been buying since 22 March.
If not mistaken, those are new shares to be issued, Mitch.
There have been over 11 million shares showing as buys since Wednesday 27th March though.
No idea if these have anything to do with the shares the directors agreed to take up in the RNS however. I don't think so, but I'm sure someone with better knowledge than me can advise?
Potential for a breakout once we get good news eg re EPC getting signed, in the next few weeks.
No 10% rise today. The bid offer has been 0.40p - 0.50p for a while. Many buyers than sellers since the RNS on 28 March at prices near to 0.50p. This has seen the dealers running low on stock. So the bid price has risen, now 0.45p - 0.50p. You can only say the price has risen if buyers will pay more than 0.50p
10% rise on the day on a share with a track record of being leaky and rising before good news... too optimistic or are we reading as good news in the pipeline?
That's the mln dollar question :); we will see when the RNS is released.
How will the financing come?
Actually, the Fundraise RNS stated: "The net proceeds from the CLNs will be used to further advance work that is expected to lead to the signing of an EPC contract for the Kola Potash Project, as announced by the Company on 9 February 2024, and provide working capital for Kore Potash.", so it could mean that we are fine until the financing is announced in 2-3 months.
From the RNS (see extracts below), it looks like - pls correct me - we need to raise $800k in the next 2-3 months (after financing is announced, hence I assume at a much higher SP), but also for WCAP purposes up to the EPC signing (4-6 weeks?) and financing completion (another 4-6 weeks?), so how much for - say - the next 2-3 months? Is this amount required sufficiently covered by the 530k just raised, you think?
"Two payments of USD1.0 million each were made in August and November 2023 as required.... The remaining USD 3 million of which USD 800,000 payable up to 6 weeks from the date PowerChina and SEPCO having presented to Kore ...the financing arrangement of the Kola Project...to form a binding construction contract" and USD 2.2 million to be paid subject to Kore concluding its fund raise with a target date of no later than 12 months of the signing of "EPC" contract."
"The Company will be required to raise funds in Q2 2024 for the working capital requirements for Kore Potash for the period up to signing full EPC documentation and the financing proposal for the complete construction of Kola from the Summit Consortium".
"...........then the buys were definitely from insiders. "
I very much doubt it. If the Chairman is putting in his own money ($150,000) many investors take this as a good time to buy (i.e. the Chairman is the "insider"). FYI - I bought 500k yesterday on that logic.
Agreed Driving.
We are getting closer and closer, and if today's buys were not directors taking up the new shares (which I don't think would be reported here), then the buys were definitely from insiders.
KP2 has always leaked like the proverbial sieve, and I don't think that stopped when Brad was disposed of.
If I might get to add @ same price as insiders..now that would be nice for a change!
Gla.
Not long now..
They have 5 weeks to deliver the signed EPC, then 6 weeks max for the finance. Let's see how the Mkt reacts then.
IMHO - There are lots of good things that make this project unique
The quality of the Potash
The distance from the coast
The pedigree of the partner
The full funding
The cost guarantee
etc. etc.
Keeping to forecast dates is not (unfortunately) something you could see as a positive (like most AIM) stocks.