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Kore Potash PLC ( (GB:KP2) ) has issued an update.
Kore Potash PLC has announced a successful fundraising effort, raising approximately US$12.2 million through direct subscriptions of new ordinary shares. The funds will be used for various strategic purposes, including final payments to PowerChina for past work, updating environmental assessments, covering advisory and legal costs, supporting early test works, and providing working capital. This financial move is expected to support the company’s operations for at least the next 12 months, potentially strengthening its position in the potash industry. The fundraising also involves participation from significant shareholders and institutional investors, indicating strong support and confidence in Kore Potash’s strategic direction.
More about Kore Potash PLC
Kore Potash PLC is a potash exploration and development company with a primary focus on its 97%-owned Sintoukola Potash Project located in the Republic of Congo. The company operates within the mining industry, specifically targeting the production and development of potash, a key ingredient in fertilizers, which is crucial for agricultural productivity.
Average Trading Volume: 979,093
Technical Sentiment Signal: Buy
Current Market Cap: £140.8M
Learn more about KP2 stock on TipRanks’ Stock Analysis page.