(Alliance News) - Kore Potash PLC on Tuesday said it trimmed its losses in 2019, with administrative expenses falling.
In 2019, Kore's pretax loss narrowed to USD4.2 million from USD6.3 million.
The operator of the Sintoukola potash project in the Republic of Congo cut its administrative expenses by 46% to USD1.2 million from USD2.3 million.
Chief Executive Officer Brad Sampson said: "I am pleased to report on the progress Kore has made towards continuing the development of its projects in the world class Sintuoukola basin, Republic of Congo.
"We continue to be proud of the relationships we have with our local communities and with the government of the Republic of Congo and thank them for their ongoing support."
The company added that it is monitoring the Covid-19 outbreak "very closely", though the pandemic has no far caused the Kore "no impact".
Shares in the company were untraded at 0.60 pence each in London on Tuesday morning. In Johannesburg, they were flat at ZAR0.15 each.
By Eric Cunha; ericcunha@alliancenews.com
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Kore Potash (KP2)