Kore Potash PLC - Kola and DX potash projects in Republic of Congo - Announces the process to potentially finance the construction of the Kola Potash project is progressing in line with the memorandum of understanding signed with the summit consortium in April 2021. In a quarterly update for the full-year to December 31, the company says it expects the consortium to complete optimisation study report on the Kola project, which was announced on November 10, by the end of first quarter. The consortium is also expected to finalise an engineering, procurement and construction contract proposal for Kola.
Kore Potash expects to receive the consortium's financing proposal for the full construction cost of Kola 60 days after the successful completion of the study. Kore Potash continues to brief potential offtake partners with the capability to procure all the planned Kola production. As of December 31, Kore Potash held USD11.1 million in cash.
Current stock price in Johannesburg: ZAR0.21
12-month change: up 31%
Current stock price in London: 0.94 pence
12-month change: up 13
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Kore Potash (KP2)