Kore Potash Secures $10.1 Million for Kola Project Advancement

An update from Kore Potash PLC ( (GB:KP2) ) is now available.

Kore Potash PLC has announced a successful fundraising effort, raising approximately US$10.1 million through a placing and direct subscriptions of new ordinary shares. The funds will be used to cover outstanding optimization work, early works agreements, and environmental assessments, ensuring sufficient working capital for at least the next seven months. This financial boost is crucial for advancing the Kola Project, which is designed to be a major low-cost potash producer with a projected annual EBITDA of US$733 million. The company’s strategic financial moves, including the involvement of major shareholders like the Oman Investment Authority and Sociedad Quimica y Minera, position it strongly within the industry.

More about Kore Potash PLC

Kore Potash PLC is a potash exploration and development company, primarily focused on the Sintoukola Potash Project located in the Republic of Congo. The company aims to become a leading producer of Muriate of Potash (MoP) for the global agricultural market, particularly targeting Brazil. Kore Potash is projected to be one of the lowest cost producers in this sector.

Average Trading Volume: 774,128

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £100.7M

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