Kore Potash PLC - potash development company focused on the Congo - Raises USD12.5 million via placing of 826.5 million shares at 1.1 pence each. Says Chair David Hathorn is participating for a total of 23.1 million shares for total of USD350,000.
"The net proceeds of the proposed fundraise will allow the company to fund the work it wants to undertake in relation to its planned optimisation study of the Kola project and the company's ongoing working capital requirements," said Kore on Thursday.
Current stock price: down 9.1% at 1.20 pence each in London; down 10% at ZAR0.35 each in Johannesburg
Year-to-date change: up 45% in London; up 94% in Johannesburg
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Kore Potash (KP2)