Business
Review of Operations - Quarter ended 31 Dec 2025
Kore Potash Plc reported on its operations for the quarter ended December 31, 2025, highlighting the completion of beneficiation tests and engineering surveys for the Kola Potash Project, with marine drilling commencing and government approvals received for January 2026. The company also announced the commencement of a Formal Sale Process (FSP) following approaches from two parties interested in acquiring the company, and successfully completed a c.US$12.2 million fundraise, ending the quarter with c.US$10.5 million in cash. Exploration investment for the quarter was US$2,953,000, primarily for the Kola Study. Disclaimer*
About this update from Kore Potash Plc
[{"type":"text","content":"\n\n30 January 2026\n \nKore Potash Plc\n(\"Kore Potash\" or \"the Company\")\n \nReview of Operations for the Quarter ended 31 December 2025\nand update on the Formal Sale Process (\"FSP\")\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 31 December 2025 (the \"Quarter\").\n \nQuarterly Highlights\n \nProjects\n \n· In the course of the Early Works Agreement (\"EWA\"), PowerChina International Group Limited (\"PowerChina\") and Kore Potash completed beneficiation tests in China in the presence of an independent Canadian potash expert, to the satisfaction of all parties.\n· Also pursuant to the EWA, a subcontractor appointed by PowerChina completed engineering surveys, geophysical tests and geotechnical tests around the main and ventilation shafts in the RoC.\n \n· Mobilization for marine drilling work around the jetty area started in December 2025. The Company received the RoC Government approvals to start work in January 2026.\n \n· Initiated earlier in 2025, the update of the Environmental and Social Impact Assessment (\"ESIA\") slowed down during the last quarter while some design modifications are being considered which could impact the Relocation Action Plan (\"RAP\").\n \nCorporate\n· On 4 November 2025, the Company announced that it had commenced a FSP. Kore Potash announced that it had received approaches from two parties, each of which are evaluating the possible acquisition of the entire issued, and to be issued, share capital of the Company.\n· Since then, the FSP has continued, including site visits and the conduct of due diligence. Further announcements will be made as appropriate.\n· Successful completion of c.US$12.2 million fundraise announced on 20 November 2025.\n· Lodgement of the cleansing prospectus on 21 November 2025 to remove any on-sale restrictions in relation to the shares to be issued pursuant to the Company's c.US$12.2 million place...