Business
Review of Operations - Quarter ended 30 Sept 2021
Review of Operations - Quarter ended 30 Sept 2021.
About this update from Kore Potash Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0284Q\n Kore Potash PLC\n 25 October 2021\n \n \n \n \n 25 October 2021\n \n \n \n \n \n Kore Potash Plc\n \n \n (\"Kore Potash\" or \"the Company\")\n \n \n \n \n \n Review of Operations for the Quarter ended 30 September 2021\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, \n located within the Republic of Congo (\"RoC\"), provides the following quarterly update for the period ended 30 September 2021 (the \"Quarter\").\n \n \n \n \n \n Quarterly Highlights:\n \n \n \n \n \n Kola Potash Project\n \n \n · The process to potentially finance the construction of the Kola Potash Project (\"Kola Project\") progressed in line with the Memorandum of Understanding (\"MoU\") signed with the Summit Consortium (\"Consortium\") in April 2021.\n \n · The Optimisation Study (\"Study\") on the Kola Project remains on track for completion in Q1 2022.\n \n · The Company expects to receive an interim report on the Study within weeks. \n \n · Engineering, Procurement and Construction (\"EPC\") contract terms are being discussed with the Consortium consistent with the 2017 2nd edition FIDIC Silver book.\n \n · The Consortium remains on track to present an EPC proposal for the construction of Kola to the Company in Q2 of 2022.\n \n · The Consortium also continues to progress its debt and royalty financing arrangements and is finalising its interest in product offtake.\n \n · The Consortium advise that subject to completion of a successful Study, they remain on track to provide the royalty and debt financing proposal for the full construction cost of Kola to the Company in Q2 of 2022.\n \n · Kore Potash management also continued to brief potential offtake partners with the capability to procure all of the Kola production and who have expressed interest in partnering with the Company.\n \n \n DX Potash Project \n \n \n · \n Work commenced developing an updated geological model for the DX deposit which is expected to be completed in Q4 2021.\n \n \n \n \n \n Corporate Highlights\n \n \n · \n Ms Amanda Farris was appointed as interim Chief Financial Officer on 15 July 2021. \n \n · \n Mr Ignacio Maijluf was appointed as a Non-Executive Director on the Board as a nominee of S\n ocie...