Business
Review of Operations for Quarter to 30 June 2024
Review of Operations for Quarter to 30 June 2024.
About this update from Kore Potash Plc
[{"type":"text","content":"\n\n31 July 2024\n \nKore Potash Plc\n(\"Kore Potash\" or \"the Company\")\n \nReview of Operations for the Quarter ended 30 June 2024\n \nKore Potash (AIM: KP2, ASX: KP2, JSE: KP2, A2X: KP2), the potash development company with 97%-ownership of the Kola Potash Project (\"Kola\" or the \"Kola Project\") and Dougou Extension (\"DX\") Potash Project in the Sintoukola Basin, located in the Republic of Congo (\"RoC\"), provides its quarterly update for the period ended 30 June 2024 (the \"Quarter\").\n \nQuarterly Highlights\n \nProjects\n· PowerChina International Group Limited (\"PowerChina\") delivered the Engineering, Procurement and Construction (\"EPC\") proposal and draft EPC contract to the Company on 6 February 2024.\n· Kore Potash and PowerChina commenced further detailed negotiation on the EPC proposal and draft EPC contract. The Company met senior PowerChina officials in Beijing in May 2024 and again in Dubai in July 2024, where both parties satisfactorily resolved all outstanding commercial points. The agreements are now with the respective legal counsels of both parties to finalise the agreements. When the agreements are in final state Kore Potash and PowerChina will work towards fixing a date for signing ceremony with the Minister of Mines and his colleagues of the Republic of Congo in Brazzaville. Following the signing ceremony relevant details of the agreement will be made public.\n \nCorporate\n· On 4 April 2024, the Company announced the appointment of Mr J. M. André (\"André\") Baya as non-board Chief Executive Officer (\"CEO\") effective from 15 April 2024.\n· On 15 April 2024, the Company granted options over 35,000,000 new Ordinary Shares (\"new Ordinary Shares\") to management.\n· On 7 May 2024, the Company announced a secondary listing on the A2X exchange (\"A2X\") with effect from 14 May 2024.\n· The Company held a General Meeting on 13 May 2024 to approve a conditional fundraise of US$150,000.\n· The Company held its Annual General Meeting on 6 June 2024.\n· On 27 June 2024, the Company announced the appointment of Amit Mehta as a non-executive director to the Board, nominated by Oman Investment Authority (\"OIA\"), with effect from 26...