Kore Potash PLC - potash development company focused on the Congo - Says it continues to progress the definitive feasibility study for the Dougou extension, or DX project, located in the Kouilou district of the Republic of Congo. Phase one of the study is on track for completion in May 2021. Drilling productivity and costs during the quarter ended December 31 were better than budgeted, and the company is anticipating drilling additional diamond drill holes in the quarter ending March 31. Says a number of potential financiers have indicated potential interest in financing the Kola project, in the same area as the Dougo extension.
Chief Executive Brad Sampson says: "The company continues to progress the definitive feasibility study for the DX project as this currently represents the fastest route to first production and cash generation, which will provide a firm foundation for the further development of the Sintoukola Basin.
"The larger Kola project remains important for Kore and our stakeholders, and dialogue continues with potential strategic, financial and construction partners on the capital optimisation of Kola and then construction."
Current stock price: ZAR0.18 in Johannesburg; 0.75 pence in London
Year-to-date change: flat in Johannesburg; down 9.6% in London
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Kore Potash (KP2)