Kore Potash PLC - owner of the Kola and DX potash projects in Republic of Congo - Says it is making progress in securing funding for the construction of the Kola potash project. Progress on the finance front is in line with the memorandum of understanding signed with the Summit Consortium in April 2021, Kore says. The consortium is an investment group that represents investors and engineering firms.
Kore has started a detailed review of the completed optimisation study on the Kola project. This study seeks to improve the Kola project value, reduce the capital cost, and shorten the construction schedule. In addition, the group says the consortium expects to submit an engineering, procurement and construction contract proposal for the construction of Kola based on the outcomes of the optimisation study within the next two months.
Current stock price in Johannesburg: ZAR0.30, unchanged on Friday
12-month change: up 30%
Current stock price in London: 1.45 pence, up 3.6%
12-month change: up 34%
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Kore Potash (KP2)