Business
FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2018
FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2018.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \nRNS Number : 4745U Kore Potash PLC 29 March 2019 \n\n29 March 2019\n \nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\n \nAUDITED FINANCIAL REPORT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2018\n \nThe Board of Kore Potash plc is pleased to announce the publication of the annual financial report of the Company, the potash exploration and development Group, whose flagship asset is the Sintoukola Potash Project, located within the RoC, for the year ended 31 December 2018.\n \nThe full financial report is available online at the Company's website www.korepotash.com\n \nA Glossary of Terms is available at the bottom of this announcement.\n \nSummary of key developments\n \n· On 9 February 2018, the Company through its subsidiary, SPSA, was awarded the Sintoukola 2 Exploration Permit by the government of the RoC. This permit covers areas the Company believes are prospective for sylvinite mineralisation, and is valid for three years, following which it may be renewed twice, each time for a further period of two years.\n· On 29 March 2018, Kore Potash completed its listing on AIM as well as the main board of the JSE, in addition to retaining its ASX listing.\n· USD 13.14 million was raised through the placing and direct subscription of new ordinary shares in the Company and through a convertible loan note which was subsequently converted into ordinary shares in the Company on 27 July 2018.\n· Appointment of Mr José Antonio Merino as a Non-Executive Director on 23 May 2018. José Antonio was nominated by SQM and replaced Pablo Altimiras, whose resignation was announced on 26 April 2018.\n· Appointment of Mr Brad Sampson as CEO and Executive Director, effective from 4 June 2018, replacing Mr Sean Bennett, who resigned with effect from the same date.\n· On 20 August 2018, a maiden Mineral Resource Estimate for the Dougou Extension Deposit was announced, totalling 232 Mt with an average grade of 38.1% KCl. The Dougou Extension Deposit is located approximately 15 km southwest of the Company's Kola sylvinite Deposit. The Mineral Resource Estimate was reported in accordance with the JORC Code.\n· On 30 August 2018, a new DUP, w...