Business
Review of Operations for Q3 2018
Review of Operations for Q3 2018.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \nRNS Number : 6896F Kore Potash PLC 30 October 2018 \n\n30 October 2018\n \nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\n \nREVIEW OF OPERATIONS\nFOR THE QUARTER ENDED 30 SEPTEMBER 2018\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 quarterly update, for the period to 30 September 2018 (the \"Quarter\").\n \nHighlights\n· Kola Definitive Feasibility Study (\"DFS\") is at an advanced stage. On 29 October 2018, the Company received 15 volumes of the DFS documentation from the consortium of French engineering companies (\"the French Consortium\" or \"FC\"). Although the remaining volume is being finalised, the Company now has sufficient information to commence its formal review.\n· The Company declared a maiden sylvinite Mineral Resource Estimate for the Dougou Extension Sylvinite Deposit on 20 August 2018.\n· A Licence for the company to use an Offshore Area for the transhipment of potash and the discharge of waste brine has been authorised by the Minister of Transport, Civil Aviation and Merchant Marine of the RoC and was issued to the company on 6 September 2018.\n· Amendments to the Kola environmental and social impact assessment (the \"ESIA\") have been made reflecting project design changes since the ESIA was approved. Work on a restructured ESIA continues and when completed it will be reviewed by the regulator before submission to the Minister of Environment for approval.\n· The Company awaits feedback from the Ministry of Mines and Geology on whether further action is required by the Company to finalise the Mining Convention for the Kola project. The Convention has been approved by Cabinet and reviewed by the RoC Parliament. \n· At the end of the Quarter the Company held USD 11.7 million cash at bank.\n \nBrad Sampson, Chief Executive Officer of Kore Potash, commented:\n \n\"Completion of the DFS is a critical step towards unlocking the potential of the Sintoukola Project area. The Company looks forward to finalising the review of the DFS and s...