RE: Royalty Finance vs. Strategic Investor13 Jun 2025 15:03
Guys, talk is cheap IMO; Not puzzling at all, Mitch, definitely disappointing and the Mkt is voting with its money!
The RNS was full of caveats ("Shareholders and investors should be aware that there is no certainty that Kore Potash will be able to raise the required funding when needed and it is possible that such funding may only be available on terms that may be highly dilutive or otherwise adversely affect Kore Potash shareholders' exposure to the Kola Project economics. Whilst the Company has made progress towards financing the development of the Kola Project as discussed above, those arrangements are currently non-binding and therefore there is currently no certainty that the Company will be able to raise the funds required to develop the Kola Project, or if funding is available.")
and there is no definitive ending to it.("In addition to the Company addressing the key requirements outlined above, the Financier will be undertaking further due diligence. The parties are focused on achieving financial close to enable the Project construction to commence in early 2026. As these are non-binding Term Sheets, the Financier and the Company have agreed not to have a defined termination date.")
People have waited for over a year for SUMMIT to arrange and execute legal docs for Loans & Offtake, when for 2 years it said it needed just 6 weeks to organise that - instead, it's back to square one and not even the offtake partners (Chileans and Omanis) have not committed $1 in offtake; even worse, the Early Works have been delayed to year end (instead of June end), meaning more delays, costs etc.
So, a lot of people have thrown in the towel (myself included) as there is still no visibility as to the conclusion of the funding, and now, with the MEast in flames soon, funding may become more difficult.
Even the Brokers have been unable to produce a new TP because everything - IMO - is still up in the air.
Good luck guys, this is my last post on KP2; I left a small holding just for the heck of it but I have had enough.