Business
Review of Operations for Q4 2019
Review of Operations for Q4 2019.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \nRNS Number : 3050B Kore Potash PLC 30 January 2020 \n\n30 January 2020\n \nKore Potash Plc\n(\"Kore Potash\" or the \"Company\")\nReview of Operations for the Quarter ended 31 December 2019\n \nKore Potash, the potash exploration and development company whose flagship asset is the 97%-owned Sintoukola Potash Project (\"Sintoukola\" or the \"Project\"), located within the Republic of Congo (\"RoC\"), provides the following quarterly update, for the period to 31 December 2019 (the \"Quarter\").\n \nQuarterly Highlights:\n· Dougou Extension (\"DX\") Pre-feasibility Study \no Pre-feasibility study (PFS) on track to be completed in April 2020 within budget and with potentially improved financial outcomes. \no Dissolution test work results released on 30 December 2019. \no 2D seismic survey data processing completed and issued to geologists to incorporate information into the geological model, as reported on 30 December 2019. \no The transaction to purchase 2 drill rigs for use in the drilling campaign was concluded \no Two reverse circulation (\"RC\") drill holes reached the anhydrite layer in December 2019 and, post-period, diamond drilling from the base of the RC holes through the salt layers has commenced as planned in January 2020.\n \n· Optimisation of the Kola Project (\"Kola\")\no Pricing proposals from multiple companies against the Kola Bill of Quantities covering the same scope as the EPC proposal received from the French Consortium were obtained.\no No new pricing proposal has been received from the consortium of French engineering companies (\"FC\") in relation to their proposal to reduce capital cost. \nCorporate \n· At 31 December 2019, the Company held USD 7.6 million cash at bank.\n \nBrad Sampson, Chief Executive of Kore Potash, commented:\n\"Progress on the DX PFS continues gratifyingly quickly. We have been able to announce solid progress and some extremely encouraging results from certain workstreams, such as dissolution testing and seismic survey data analysis. In addition, we have engaged a number of high-quality consultants to help us advance the other items necessary to complete the PFS and remain happy that we will meet the previously announced schedule for rele...