Business
Financial Results for Year Ended 31 December 2022
Financial Results for Year Ended 31 December 2022.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \n \n 31 March 2023\n \n \n \n Kore Potash Plc\n \n \n \n (\"Kore Potash\" or the \"Company\")\n \n \n (\"Group\" refers to Kore Potash Plc and its subsidiaries)\n \n \n \n \n \n \n Financial Results for Year Ended 31 December 2022\n \n \n \n \n \n \n Kore Potash, the potash development company with 97%-ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located within the Republic of Congo (\"RoC\"), today reports its audited financial results and operational highlights for the year ended 31 December 2022 (the \"Period\").\n \n \n \n \n \n The full financial report including its Corporate Governance Statement is available online at the Company's website at\n \n \n https://korepotash.com/wp-content/uploads/2023/03/Kore_Potash_plc_Annual_Report_2022.pdf\n \n \n The financial statements contained within this announcement should be read in conjunction with the notes contained within the full financial report.\n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n •\n On 1 April 2022, the Company announced it had received the Optimisation Study on the Kola Project.\n \n \n •\n The detailed review of the Study was completed, and the outcomes of the Study announced to shareholders on 27 June 2022.\n \n \n •\n On 28 June 2022, the Company announced it had signed a Head of Agreement (\"HoA\") for the construction of Kola.\n \n \n •\n On 19 October 2022, the Company announced receipt of correspondence from the Minister of Mines of the RoC on 12 October 2022 expressing discontent with the progress towards construction of the Kola Project and providing the Company 30 days within which to respond. The letter was received following the arrest and subsequent release, without charge, of two senior employees of the Company by the RoC police. Neither the employees nor the Company have been informed of the reason for the arrests.\n \n \n •\n The Company provided a response to the Minister on 11 November 2022. On 17 December 2022, the Company met in person with the Minister, and the discussion included a further update on the progress towards financing Kola. At the end of the meeting the Minister expressed his thanks for how the Company responded to his most recent letter and assured the Company of his and the RoC Government's ongoing support for Kore Potash and to develop the Kola Project.\n \n \n •\...