Business
Kola optimisation study received
Kola optimisation study received.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9393G\n Kore Potash PLC\n 01 April 2022\n \n \n \n \n 1 April 2022\n \n \n Kore Potash Plc\n \n \n (\"Kore Potash\" or the \"Company\")\n \n \n \n \n \n Kola optimisation study received\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\"), is pleased to provide an update on the progress of the Optimisation Study and financing process for the Kola Potash Project (\"Kola\").\n \n \n \n \n \n The Company is pleased to announce it has received the Kola Optimisation Study (\"Study\") undertaken by the engineering partner of the Summit Consortium (\"Consortium\"), SEPCO Electric Power Construction Corporation (\"SEPCO\"). The Company has commenced its detailed review of the Study which is expected to take several weeks.\n \n \n \n \n \n The Study has been produced by SEPCO following extensive review of the Kola Definitive Feasibility Study (\"DFS\") announced by Kore on 29 January 2019.\n \n \n \n \n \n Highlights\n \n \n \n \n \n · Delivery of the Study completes work on the optimisation of Kola. Focus now shifts towards the terms of an Engineering, Procurement and Construction contract (\"EPC\") proposal.\n \n · The Consortium has advised that it expects to submit an EPC proposal based on the outcomes of the Study within the next 2 months.\n \n · The Consortium has advised that it is pleased with the outcome of the Study and is expected to provide the financing proposal for the construction of Kola following Kore Potash's receipt of the EPC proposal and agreement on EPC terms.\n \n · The Company has commenced its detailed review of the Study and expects that this will take some weeks to complete and to finalise agreement with the Consortium on the scope for inclusion in the EPC contract. The Company does not anticipate this review period will negatively impact the timing of the EPC and financing proposals.\n \n \n \n \n Brad Sampson, Chief Executive Officer of Kore Potash, commented, \"Receipt of the Kola Optimisation Study represents another key milestone towards the financing process for Kola. We enthusiastically await the EPC proposal and are excited to be closer to receiving the financing proposal from the Consortium, a...