29th Apr 2025 14:20
Kore Potash PLC - London-based owner of the Kola and DX potash projects in Republic of Congo - Requests that the Australian Securities Exchange and the Johannesburg Stock Exchange immediately halt trading in its shares. Shares are suspended pending a further announcement on the financing deal. Trading on AIM will continue to trade as normal.
Kore said on Monday it had received the draft financing proposal and draft non-binding term sheets for the Kola potash project in the Republic of Congo from the Summit Consortium, an investment group that represents investors and engineering firms. Kore has until May 31 to consider, negotiate if necessary, and settle on the terms.
In November last year, Kore signed the engineering, procurement and construction contract for Kola with PowerChina International Group Ltd. It said late in February the capital cost on a signed fixed price engineering, procurement & construction contract amounted to USD2.07 billion.
Stock price in London: 2.70 pence, up 17% on Tuesday before suspension
12-month change: multiplied from 0.53p
Stock price in Johannesburg: 64 rand cents, up 6.7%
12-month change: multiplied from 14 cents
By Artwell Dlamini, Alliance News reporter
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