Business
FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2019
FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2019.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \n \n RNS Number : 2932H\n Kore Potash PLC\n 24 March 2020\n \n \n \n \n 24 March 2020\n \n \n \n \n \n Kore Potash Plc\n \n \n (\"Kore Potash\" or the \"Company\")\n \n \n \n \n \n AUDITED FINANCIAL REPORT FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019\n \n \n \n \n \n The Board of \n Kore Potash plc \n is pleased to\n announce the publication\n of \n the annual financial report of the Company, \n the potash exploration and development Group, whose flagship asset is the 97%-owned Sintoukola Potash Project (\"Sintoukola\" or the \"Project\"), located within the Republic of Congo (\"RoC\"), for the year ended 31 December 201\n 9 (\"FY 19\")\n .\n \n \n \n \n \n The full financial report is available online at the Company's website. The Company also advises that an ASX Appendix 4G (Key to Disclosures: Corporate Governance Council Principles and Recommendations) and its current Corporate Governance Statement have been released today and will shortly be available on the Company's website: \n \n \n www.korepotash.com\n \n \n .\n \n \n \n \n \n A Glossary of Terms is available at the bottom of this announcement.\n \n \n \n \n \n \n Summary of \n \n \n key developments\n \n \n \n \n \n \n · \n The Company completed its review of the Kola DFS and released a summary of results to Shareholders on 29 January 2019. This included the reporting of:\n \n \n o \n Proved and Probable Ore Reserves for the Kola Deposit totalling 152.4Mt with an average grade of 32.5% KCl.\n \n \n o \n Post-tax, NPV10 (real) of USD 1,452 million and a real ungeared Internal Rate of Return of 17% on an attributable basis at life-of-mine average MoP prices for granular of USD 360 per tonne CFR Brazil and standard of USD 350 per tonne CFR Brazil.\n \n \n \n \n \n Further details of the summary of the Kola DFS are available on the Company's website.\n \n \n \n \n \n · \n The Company received the EPC offer for the Kola project from the FC and released an announcement on 26 March 2019 stating that it would review the options available to it for the way forward with the Kola Project.\n \n \n \n \n \n · \n The Company completed a scoping study on the 400 ktpa Dougou Extension (DX) sylvinite solution mining project and released a summary of results on 29 April 2019. This util...