Business
Projects Update
Projects Update.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \nRNS Number : 0176X Kore Potash PLC 17 December 2019 \n\n 17 December 2019\nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\nProjects Update\n \nKore Potash, the potash exploration and development company whose flagship asset is the 97%-owned Sintoukola Potash Project (\"Kola\" or the \"Project\"), located within the Republic of Congo (\"RoC\"), provides the following update on the development of its potash projects.\nHighlights:\n· Dougou Extension (\"DX\") Pre-feasibility Study \n \no Pre-feasibility study (PFS) on track to be completed on budget in April 2020 with potentially improved financial outcomes.\n \no Technical studies completed to date have identified a number of improvements over the scoping study with potential to reduce both the capital cost and the operating cost of the project compared to the scoping study. These include:\n \no Circulating brine flow rates can be reduced by approximately 40%\n \no Potential to reduce electrical power requirement by up to 8%\n \no Potential to reduce gas requirements by up to 40%\n \no Cavern footprint is able to be increased by up to 27% \n \no Life of project extraction ratio may be increased with potential to increase initial project life to 25 years.\n \no Processing of the 2D seismic survey data has reinforced and improved upon earlier interpretations of the sylvinite boundaries within the deposit.\n \n· Kola project optimisation\n \no Kola Bill of Quantities (\"BoQ\") exercise identified capital savings in excess of $300 million in comparison to the Definitive Feasibility Study capital cost.\n \no Discussions with European engineering and construction groups indicates that further optimisation activity (including design revisions) is likely to generate additional capital cost reductions.\n \no With current focus on the development of the lower capital cost DX project, the Company will continue to explore options to reduce the Kola capital cost but is not planning further expenditure on the optimisation of Kola in the near term.\n \nBrad Sampson, Chief Executive of Kore Potash, said:\n\"This positive progress on the DX pre-feasibility study is very pleasing to see, the Compa...