Kore Potash PLC - Kola and DX potash projects in Republic of Congo - Announces that the process to finance the construction of the Kola potash project, in Republic of Congo, has progressed in line with the memorandum of understanding signed with the consortium in April 2021. Optimisation study on track for completion in first quarter of 2022. Says consortium is on track to provide the royalty and debt financing proposal for the full construction cost of Kola in the second quarter of 2022. Company plans to further update investors following the completion of an interim report on the optimisation study, which is due "within weeks".
"The company is very pleased that the optimisation study and the consortium's financing process are progressing to schedule. We are excited that the next key milestones for the consortium are imminent and look forward to receiving the interim study report and being able to update shareholders further on the progress to develop Kola," said Chief Executive Brad Sampson.
Current Johannesburg stock price: ZAR0.23
Year-to-date change: up 28%
Current London stock price: 1.15 pence
Year-to-date change: up 39%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Kore Potash (KP2)