8th Apr 2021 19:21
Kore Potash PLC - mining company - Completes oversubscribed proposed fundraise with a total of 823.5 million new shares to be issued at a price of 1.1 pence each for a total value of USD12.5 million. Following the admission, the company will have 2.81 billion shares overall.
"This fundraise will allow the company to deliver our element of the optimisation study to reduce 97%-owned Sintoukola potash project's capital cost following the signing of the non-binding memorandum of understanding with the Summit Consortium which outlines a roadmap to optimise, fully finance and construct Sintoukola via a mix of debt and royalty financing," says Chief Executive Brad Sampson.
Current stock price: 1.33 pence, down 20% on Thursday
Year-to-date change: up 60%
By Evelina Grecenko; [email protected]
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