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Kore Potash Plc (ASX:KP2)

ALERT: Price-sensitive ASX Announcement for KP2
Current share price for KP2 : $0.062 0.017 (37.78%)+
Announcement
Release
31 Jul 2025 3:54PM
Price at Release
$0.045
Full Release
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Summary
Kore Potash Plc's Quarterly Activities and Cashflow Report for the quarter ended 31 March 2024 details the company's continued progress on the Kola Potash Project in the Republic of Congo. The company received the Engineering, Procurement and Construction (EPC) proposal from SEPCO Electric Power Construction Corporation, with strategic partners such as China ENFI now supporting project financing. Kore Potash is advancing discussions with the Summit Consortium, including arranging debt and equity funding for the project. Cash outflows during the quarter were primarily related to ongoing project evaluation, engineering activities, and corporate overheads, with the company ending the period with US$7.7 million in cash. The report also underscores the company's continued engagement with the Congolese government and stakeholders, and the environmental and social developments of the Kola Project. No mining production occurred during the quarter.
Key Points
  • Kore Potash Plc focused on advancing the Kola Potash Project in the Republic of Congo during Q1 2024.
  • The company received and reviewed the EPC proposal from SEPCO Electric Power Construction Corporation.
  • China ENFI has joined as a strategic partner to support project funding and delivery.
  • Discussions with the Summit Consortium for project financing are ongoing, targeting both debt and equity arrangements.
  • Cash outflows were mainly for project evaluation, engineering, and ongoing corporate costs.
  • The company held US$7.7 million in cash at the end of March 2024.
  • There was no mining production in the quarter; the focus remained on project development and stakeholder engagement.
  • Progress continued on environmental, social, and permitting aspects of the Kola Project.
  • Ongoing collaboration with the government of Congo and local stakeholders is highlighted as a priority.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.