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Brvlli, as per the Analyst note just uploaded on KP2 site:

"the company has projected that it will need to raise at least another US$7.5m in 4Q2025 to be able to pay its working capital obligations as they fall due. These include a payment of US$2.2m to be paid no later than 19 November 2025 to PowerChina its EPC partner at Kola. As at 19 March 2025, the group’s cash balance was US$0.6m, with the company confirming that as at 28 March 2025, it had received the gross total of the US$10.1m raised in the equity raise on 21 March."

I reckon that tomorrow we have a 100% chance of getting the Financial Results and a 99% chance for the financing sheet; over the past 3 years, the Co has released the FinRes on this date, plus some other update; only exception was 2022 when the Optim. study was released on Aprl. 1st; however, if there'd have been a delay for the fin.sheet's release,it'd have probably been flagged with last week's RNS. all IMO

Yes, but this is what the Market has been waiting for, to update the post-financ. TP; the breakdown between Royalty/Debt and any Equity; financing will take some months to finalise (paperwork, preconditions etc) once KP2 has accepted the sheet's terms.

Lamp, if u r right then the Co will give the "new expected" date on Monday, when they announce Results - IMO.

IMO, the Analyst Note is conservative as the 4.4p TP rests on that 300mln being required/raised (hence, a lot of dilution); they state that if this raise is not needed, they will revise the TP upwards (which used to be around 10p, BTW).

Thus, we need to be patient for another 2 trading days. GLA!

"Pending details on the funding structure, as previously, we run valuation on an assumption for a more standard scenario whereby the Company attracts a partner for half of the project portfolio while Kore funds its share of the project through a relatively standard 30/70 equity/debt arrangement. This is a fairly dilutive funding structure and any improvement on that including the envisaged debt/royalty funding package represents further potential upside to our target valuation."

So, the TP of 4.4p assumes KP needing to raise appx $300mln; this is how I read it i.e Offtake for about 1bln, Debt of 700m; any other thoughts?

3-4 days left guys, all to be revealed soon :)

only known is that it will rise, only unknown by how much.

Let's say that there is a lot more upside than any downside; in a few days TP 'd be raised, assuming nothing nasty in the Fin. sheet; also remember that potash prices are at a 4-year low, so any rises will increase the TP.

It's 17 pages, TP of 4.4p on a very conservative scenario; it may be upgraded next week with the details of the Fin. sheet.

Https://korepotash.com/investors/analyst-research/

Back in November, people were happily buying at an SP of +4p, with +3 months away from financing sheet, and Early Works away at +6 months, with cash at $1-2 million.

Now, SP at 2p, $10ml in the bank, fin.sheet 3-4 days away and EWorks to complete in 3months - go figure!

To conclude, against this (temp. IMO) 10% SP drop, we get:

1. funds for the EWorks completion in June, thus pushing the EPC forward;

2. Wcapital to end of 2025

3. new investors with money at stake

4. making the project and the Co less risky to the market

5. a significant signal to the market that things are progressing well

@Brvlli, this explanation is just IMO;

Mkt cap was appx 100mln, 10mln needed to be raised; if you are a new investor with 10mln available, u have plenty of alternatives out there, esp. with global mkts tanking; don't u want a big carrot to invest in a high-risk mining enterprise, just a start-up now, in a high-risk African country? if the SP goes up 2x-4x next week (say), what "upside" would be left for you taking on this risk? Another 20-25% over 1-2 years? Would it be worthwhile for you?

Whereas today, u know that in a few weeks you may well triple/or more your money (or, have a very good probability to do so); also, this fund raising today "allows" the existing holders to take part in the next few days ON EXACTLY THE SAME TERMS; therefore, they also stand to benefit at the lower SP.

So, both sets of investors want to and WILL benefit from a lower SP than if they waited next week or so; HOWEVER, all of us PIs can also buy shares at this low SP, if we believe that next week will bring a big SP rise; thus, you still have a chance to put your money where your mouth is.

This has also just been reiterated, just 6 w/days b4 month end, so it's reasonable to say that there won't be another delay?

"In line with the MoU with the Summit Consortium and, following the execution of the EPC Contract, the financiers in the Summit Consortium are targeting to deliver a non-binding financing term sheet by 31 March 2025."

CMoney, EWAgr stipulated April initially, moved (as per usual) to June end, subsequently.

IMO, this is good news, despite the 10% dilution; the 5mln had to be paid to the Chinese, to finish the EWorks by June 2025. New investors put this money, whereas the 40% existing ones (SQM, David and Omanis) haven't chipped in yet; this also possibly explains the recent exercise to properly register the shareholders.

Closed period, so new investors invest 10mln fresh funds to bring the construction project one step closer; that's a HUGE vote of confidence IMO, plus probably they have been given solid indications that next week - by 31st - Summit will produce the financing sheet.

Thus, the Co is fully funded until appx the Y/End, the project is well on the way, new investors are in, and next week we'd expect a big jump? GLA

Tnx Panman, yes, very positive; talking about being "extremely busy", "expecting big things from India in 2025", "improved margins-reduced costs", "updating the market very soon", "not communicating unless it's something big" "good news from White House re plastic straws etc".

Did the Co pay for a 3month study, to learn something it already knows?

Or, did it get the report to enhance/back a big potential deal?

Should at least help push India and Saudi to a positive conclusion.

Anyone has access to the new Note out by Zeus?

It's a REACH announcement so, not "material" revenue-wise, but still important enough to warrant a release.

IMO, the Co will skip a Trading update so late after the Y/E and will possibly just go to a Prelims issue sometime in March; possibly to be issued with important news on India and/or Saudi?