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Good points 99, tnx; re the Offtake, if I rmbr correctly from the 2018 Prospectus (on KP's site), the initial mine plan was for appx 1mln tons production annually, but because these 2 investors wanted this quantity for Offtake, it was decided to go for 2.2mln tons annually; this means probably that they should chip in appx 50% of the cost, minus KP's small contribution? So, maybe around $400mln each? And 1bln+ in Debt? Sounds a lot for a new venture in Africa but that's where the Chinese might step in? All IMO, no idea tb honest.

That's a good point 99; just unclear about the timing though, since the Financing will (or should) be a mix of Offtake money (by SQM and the Omanis) and Debt; I see no role for new investors PRIOR to the financing being announced, UNLESS the Co will simultaneously List as a pre-condition for the Banks (eg to reduce risk)?

Well, if that was to happen, the SP would shoot up much earlier due to a leak.

Not sure though why a Main Listing'd take place soon, at a mkt cap below 100mln, when the lowest mkt cap for FTSE250 is 400mln; and not AFTER the financing when - hopefully - the SP would rise by 3-4x, thus meeting the minimum mkt cap; any views on this? the timing and the requirements, I mean.

Useful but still a lot up in the air; USD strength/weakness, Bond rates' trajectory, Banks' worries re trade wars, Chinese exposure; ideally, money can be raised from China/M East banks/funds.

On the other hand, new potash source (away from Canada, Russia) might be attractive to the US; plus, jitters re the Magnificent 7 and AI might make a boring mineral more attractive in the eyes of financiers.

We will know, I hope by month end.

Important point - the 5mln is payable AFTER financing is arranged.

"For clarity, the Company confirms that as the US$5 million payable under the Early Works Agreement forms part of the Contract Price, that amount is currently intended to be funded as part of the Summit Consortium financing as described below under the heading "Financing".

This means that KP doesn't need to raise much (maybe 1-2 mln), if anything BEFORE the financing RNS, as the only other payment that could be due to SEPCO is 800k.

"two payments of US$1.0 million each were made in August and November 2023, as required under the Revised Agreement. Of the remaining US$3 million, US$800,000 is payable up to 6 weeks from the date of PowerChina and SEPCO having presented to Kore a "complete contractual document capable of finalising the financing arrangement of the Kola Project and capable of acceptance by Kore to form a binding construction contract" and US$2.2 million to be paid (subject to Kore concluding any required capital raising) with a target date of no later than 12 months from the signing of the EPC."

[

1) End of April 2025 completion of the Early Works under the Early Works Agreement.

2) Second half of 2025: Financial Close under the EPC, then construction starts!

To accelerate progress during the financing process, Kore Potash and PowerChina have committed to an Early Works Agreement, which forms part of the EPC and is targeted to be completed within 6 months of signing. Kore Potash will pay US$5 million to PowerChina as part of the total EPC Contract Price to undertake supplementary geological work....and additional Front-End Engineering Design ("FEED"). This will enable construction to commence after signing a full set of financial agreements ("Financial Close").

Just bought some more - 175k, let's see what happens :)

I guess the 2nd RNS explains the drop recently; cash must be around 1mln (max), hence the need to raise 1-2mln more to see us through to financing; worrying is the reliance on new investors (in the past, the existing investors just chipped in).

Hopefully, these news are already in the SP; we will see this morning.

A lot more detail/caveats re the financing so I guess we are close.

GLA all!

It's a delayed one from y'day, when the SP was actually at 2p; so BUY at 2.15, could be significant ( in terms of signalling).

Might be a coincidence, but: trip to London to meet potential investors, Term sheet definitely out by eoFeb, would imply that a small fund raise is possible, to see KP through until receipt of first tranche of money for the mine's construction?

Reminders - 1) · End of April 2025 completion of the Early Works under the Early Works Agreement.

2) Second half of 2025: Financial Close under the EPC.

To accelerate progress during the financing process, Kore Potash and PowerChina have committed to an Early Works Agreement, which forms part of the EPC and is targeted to be completed within 6 months of signing. Kore Potash will pay US$5 million to PowerChina as part of the total EPC Contract Price[4] to undertake supplementary geological work, consisting of drilling at the shaft works and marine works locations and additional Front-End Engineering Design ("FEED") relating to the mining section shaft works. This will enable construction to commence after signing a full set of legally binding financial agreements ("Financial Close").

Actually, the SP drop might be due to a small fund raise possibly; it raised $900k in mid-Nov, @2.76p (30% discount), when it held cash of $1.28mln at 30 Sept Q end; so, say $2mln minus Q4+Jan cash spending (min $1mln IMO); this could leave us with $1mln as at today, possibly; given that fund raises (however small) spook people and especially those who get inside info, without analysing it, this could be the reason for the sudden drop.

With regards to dilution (@Barravelli), if the Co needs a few million $, it's not dilutory; but if it raised 100-150mln in one go, it means that all the existing Instit. holders would lose out massively, plus need to chip in fresh millions; so, IMO this is unlikely to happen before the financing is complete (Debt + Royalties) and the SP jumps by 3-4x.

At this stage, only a delay would be the negative in the horizon, but it now seems unlikely (a delay).

Let's see what they say in the Ops update, due by Friday.

Not a lot of volume, so obviously a leak about something to be announced; not good for Bob to repeat Gerry's mistakes (allow insider trading); question is, will it rise further b4 the RNS and will it fall (profit taking) once the RNS is released?

Thoughts welcome; does anyone agree that Trump's war on woke and anti-green policies will be SYM positive?

Less recycling, less composting, growing realisation these are a waste of time n money; once India & the Saudis show how good the alternative is (SYM's products) more densely-populated nations (China, Indonesia, Vietnam, Africa eventually) could follow suit. The EU's policies will slowly become irrelevant IMO

Trades, delayed from y'day; they look like BUYS to me.

IMO, the Co estimated such a Sales uplift from Q1, when they raised cash; in their projections they estimate REV of 7.5mln+ for the FYear; I think this will be conservative, judging from their optimism, so evident, during the Sept. presentation.

Bid at 2.17, up from 2.11; positive IMO

Whatever happens, Co has to update us (incl. timing / delay etc) about the financing by next week, within Q4 ops review.

tmro will indicate if the SP will bounce off its 200EMA.

No idea Rekash, let's see some facts:

SP down by 50%+ since it peaked 2 months ago; SP today touching the EMA200, so either it will bounce back, or slice through; we'd be 1 month away from an RNS re the financing; maybe the drop is related to some further delay? not unusual!

If the financing had "collapsed" for some reason, I'd expect the SP to crash by more today; obviously, SP dropping so near the next RNS (Q4 update) might indicate that someone has seen something they don't like? Or, misread it?

It's quite possible that if the Q4 update contains a delay, beyond february, of the financing deal, this is a plausible explanation; today's bigger trades indicate some inside knowledge IMO.

Quite possibly, something connected to the financing? Nothing else in the horizon.