(Alliance News) - Kore Potash PLC on Wednesday said it has received authorisation from the government of the Republic of the Congo to commence the planned drilling programme for the definitive feasibility study for the DX project.
The mining company said a drilling programme consisting of the drilling and analysis of up to five new holes is planned to begin this month, which are expected to improve confidence in the value of DX.
A number of local and international consultants have been engaged to support the environmental and technical aspects of the definitive feasibility study, Kore Potash noted. The first phase of the study is planned for completion in May 2021.
"We thank the government of the Republic of the Congo, who continue to actively support the development of the company's projects in the Sintoukola basin, for reviewing this application and responding quickly, during what is a difficult period for all governments globally," said Chief Executive Brad Sampson.
"We have seen improvements in the DX project as each phase of work has progressed, and we are excited to be moving forward with the definitive feasibility study," added Sampson.
Kore Potash shares were trading 3.7% lower in London on Wednesday at 0.65 pence each, while in Johannesburg, the stock was down 5.9% at ZAR0.16 a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Kore Potash (KP2)