|Shareholders are referred to the announcement regarding the Notice of General Meeting released on the Stock Exchange News Service on 28 June 2019 and are advised that there is a typographical error in the text of Resolution 3 of its Notice of General Meeting dated 28 June 2019. The number of shares referred to in Resolution 3 is incorrectly stated as 338 135 954. This number should be 338 135 960.|
|Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project ("Kola" or the "Project"), is pleased to announce that the resolutions put to its Annual General Meeting ("AGM") held earlier today, Friday 28 June 2019, were duly passed. The resolutions were all passed on a show of hands with exception of Resolution 12 in which a poll was taken and was passed by the requisite majority. |
In addition, shareholders are advised in terms of Rule 3.6.16 of the Listing Rules of the Australian Securities Exchange and paragraph 3.78 of the JSE Listings Requirements that BDO LLP ("BDO") has been appointed as the Company's external auditors with effect from 28 June 2019, with Matt Crane as the designated audit partner, replacing Deloitte LLP ("Deloitte").
The change in audit firm was initiated by Kore Potash as part of a review process conducted by the Audit - Risk Committee in which select firms were invited to quote on providing audit services to Kore Potash. The decision to change auditors was not the result of any disagreement between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. The appointment of BDO will allow the Company to maintain a quality auditor while achieving its objective of reducing costs. Kore Potash would like to take this opportunity to express its sincere gratitude to the Deloitte team for their services rendered to the Company over the past years.
|Kore Potash advises that, as part of the Company's cost reduction strategy, the non-executive directors of the Company, being Messrs Hathorn, Trollip, Keating, Netherway and Merino, have offered to be paid some or all of their respective director's fees (excluding superannuation entitlements) through the issue of fully paid ordinary shares in the Company in lieu of cash payments, up to a maximum of USD411 500 worth of shares ("Remuneration Shares"). It is proposed that this remuneration arrangement apply in relation to directors' fees that accrue from 1 July 2019 to 30 June 2020.|
Because this arrangement involves the potential issue of securities to directors, the Company is required to obtain shareholder approval pursuant to ASX Listing Rule 10.11. The Company will convene a general meeting of shareholders ("General Meeting") at which, amongst other resolutions, a resolution will be proposed to seek shareholder approval for the issue of the Remuneration Shares. The Company anticipates dispatching the notice to convene the General Meeting shortly ("Notice"). Further details of the Remuneration Shares will be included in the Notice.
The Company further advises that it has been granted a waiver from ASX Listing Rules 10.13.3 and 10.13.5 to the extent necessary to permit the Notice not to state that the Remuneration Shares will be issued no later than one month after the date of the General Meeting, and not to state the issue price of the Remuneration Shares, subject to the conditions set out in the waiver.
|Kore Potash will provide remote access to the Company's Annual General Meeting ("AGM") via a dial- in facility and a webcast. As previously announced the AGM will be held at 9.30am on 28 June 2019. |
In order to access the AGM remotely please use one of the below facilities:
Dial in number(s)
United Kingdom Toll-Free 08003589473 PIN: 36876428#
United Kingdom Toll +44 3333000804 PIN: 36876428#
Australian Toll-Free 1800402631 PIN: 36876428#
Australia Toll +61 284058549 PIN: 36876428#
South Africa Toll-Free 0800111446 PIN: 36876428#
South Africa Toll +27 216724118 PIN: 36876428#
Dial-in details for other jurisdictions can be found here: www.events.arkadin.com/ev/docs/NE_W2_TF_Events_International_Access_List.pdf
The AGM will also be available as a webcast at the following url on the morning of 28 June 2019: www.event.on24.com/wcc/r/2035316/CC2D50E8093F22FD431FED6FE2993BDF
|Kore advised that in line with the Admission Document dated 26 March 2018, Leonard Math is entitled to 250 000 Performance Rights which would unconditionally vest on 29 March 2020 ? the second anniversary of admission to trading on AIM ("Admission").|
However, as Leonard Math will not seek re-election at the Annual General Meeting to be held on 28 June 2019, he will cease to be a director with effect from the conclusion of that meeting. Accordingly, the Company has granted 62 500 Performance Rights to Leonard Math on a pro-rata basis for the period April to June 2019, which will vest at the conclusion of the Annual General Meeting on 28 June 2019.
In order to subscribe for shares in respect of the vested performance rights he will be required to pay the aggregate of USD0.001 per share and any taxes for which the Company is required to account to any taxing authority on his behalf.
|Kore Potash plc, the potash exploration and development company whose flagship asset is the 97%-owned Sintoukola Potash Project ("Kola" or the "Kola Project"), located within the Republic of Congo ("RoC"), announced the successful completion of the Placing and Subscription (the "Fundraise") of approximately USD13 million, as announced on 13 June 2019.|
Canaccord Genuity Ltd. ("Canaccord") and Shore Capital Stockbrokers ("Shore Capital") have acted as joint bookrunners to the Company in the Fundraise.
Capitalised terms used in this announcement have the meanings given to them in the announcement made yesterday regarding the Fundraising (the "Fundraising Announcement"), unless the context provides otherwise.
Circular and notice of general meeting
A circular containing further details of the Fundraise and notice of a general meeting of the Company to, inter alia, pass the resolutions required to enable the Company to implement the Fundraise, is expected to be published and despatched to Shareholders as soon as practicable. Following its publication, the circular will be available on the Company's website at www.korepotash.com. Shareholder approval will be sought, amongst other reasons, under ASX Listing Rules 7.1 and 10.11, as applicable.
Normal trading in the Company's securities on the ASX is expected to resume on 17 June 2019.
Appointment of Joint Broker
The Company is also pleased to announce the appointment of Shore Capital as joint broker alongside its existing nominated adviser and broker Canaccord Genuity.
|Kore advised that the Company will be holding its Annual General Meeting at 09:30 a.m. (UK) on 28 June 2019 at The Shard, Level 8, 32 London Bridge Street, London SE1 9SG.|
A circular to shareholders, incorporating the notice of the Company's AGM for 2019, together with forms of proxy and forms of instruction and the 2018 Annual Report, has been sent to registered shareholders.
The Company also advises that the following changes to the Company's Board of Directorate will become effective following the AGM:
? Leonard Math will not be seeking re-election to the Board and will consequently be leaving his role as Chair of the Audit and Risk Committee. The Board would like to thank Leonard for his contribution to the Company.
? Jonathan Trollip will step down as Senior Independent Director but will remain in the capacity of a Non-Executive Director.
? David Netherway will be taking on the positions of Chair of the Audit and Risk Committee, and of Senior Independent Director.
|The following results are the maiden full year results and therefore incomparable. Loss before income tax expense was USD6.3 million whilst loss attributable to owners came to USD6.2 million. In addition, headline loss per share was USD0.75c.|
No dividends have been proposed or paid during the year ended 31 December 2018.
|Kore, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project ("Project") in the Republic of Congo, provides an update on the Engineering, Procurement and Construction ("EPC") proposal for the Kola Project.|
Further to the Company's announcement on 29th January 2019, the Company confirms that on Saturday 23 March 2019, the French Consortium of Engineering Companies (Technip France, Vinci Construction Grand Projects, Egis International and Louis Dreyfus Armateurs) delivered an EPC proposal for the Kola Project for the Company's consideration. The EPC Proposal was delivered after the due date for delivery, which was 28 February 2019. The management of Kore intend to consider all options for the development of Kola.
|Kore Potash advises the following movements in CDIs over its ordinary shares during January 2019:|
*Balance ? 31 December 2018 - 250 591 732
*Net Movement * - (19 404 978)
*Balance ? 31 January 2019 - 231 186 754
*Increase/(Decrease) in the number of CDIs quoted on ASX as a result of transfers between CDIs quoted on ASX and ordinary shares quoted on AIM and JSE, as required by the ASX to be reported on a monthly basis.
A copy of the Appendix 3B lodged with the ASX reflecting the movement is attached.
|Kore provided a quarterly update for the period to 31 December 2018 (the "Quarter").|
? The Company completed its review of the Kola Definitive Feasibility Study ("DFS") and released a summary of results to Shareholders on 29 January 2019.
? The DFS determined Proved and Probable Ore Reserves totalling 152 Mt with an average grade of 32.5% KCl for the Kola Sylvinite Deposit, reported in accordance with the JORC Code (2012 edition).
? The Mining Convention covering the proposed staged development of the Kola and Dougou Mining Licenses has been gazetted into law following ratification by the Parliament of the RoC.
? The Company announced Exploration Targets for the potential extensions to the Kola and Dougou Extension sylvinite deposits.
? The amended Kola environmental and social impact assessment (the "ESIA") was completed and submitted to the regulator for their review prior to submission to the Minister of Environment for approval.
? At the end of the Quarter the Company held USD 6.2 million cash at bank.
|Kore announced outcomes of the Kola Potash Project Definitive Feasibility Study ("DFS"). The Kola DFS was undertaken by a consortium of French engineering companies ("FC") during 2017 and 2018.|
Business case highlights potential of the Kola asset
- Post-tax, NPV10 (real) of USD1 452M and a real ungeared IRR of 17% on an attributable basis at life-of-mine average Muriate of Potash ("MoP") prices for granular of USD360/t CFR Brazil and standard of USD350/t CFR Brazil
- Operating cash margin averaging 75%
- Average annual EBITDA of approx. USD585M
- 24% annual free cash return on invested capital
- Average annual free cash flow, post-tax, post commissioning of approx. USD500M
- 4.3-year post-tax payback period from first production
Analyst conference call and presentation
Kore will host an analyst conference call and presentation on 29 January 2019, at 10:30 GMT. Participants can access the call by dialling one of the following numbers below approximately 10 minutes prior to the start of the call.
|Kore Potash, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project in the Republic of Congo, is pleased to provide Exploration Targets for potential extensions of the Kola and Dougou Extension sylvinite Deposits, reported in accordance with the JORC Code (2012 edition). These Exploration Targets have been identified as part of the work program to improve the company?s understanding of both the potential scale and the strategic opportunities presented by the multiple occurrences of potash in the Sintoukola Project area.|
An Exploration Target is not a Mineral Resource but a statement of exploration potential and in this case, is based on drilling and 2D seismic survey data and the company?s understanding of the controls on sylvinite mineralisation.
A copy of this announcement including the diagrams and schematics are available on the company?s website hosted at http://www.korepotash.com/wp-content/uploads/2018/11/Significant-Extensions-to-Kore?s-Existing-Sylvinite- Deposits-Expected.pdf.
* Potential identified to increase the company?s sylvinite Deposits to a total of between 1.5 and 1.9 billion tonnes (Bt) of sylvinite with an average grade of between 34 and 37% KCl.
* The Exploration Targets are as follows and provided in Table 1 and located on Figure 1:
- ?Kola South?, the potential southward extension to the Kola Deposit
- 95 to 175 Mt
- average grade of between 34 and 42% KCl,
- ?DX North?, the potential northward extension to the Dougou Extension Deposit
- 320 to 600 Mt
- average grade of between 30 and 38% KCl,
* The potential quantity and grade of an Exploration Target is conceptual in nature and is an approximation. There has been insufficient exploration at Kola South and DX North to estimate Mineral Resources and it is uncertain if further exploration will result in the estimation of Mineral Resources.
* The Exploration Targets are immediately adjacent to the company?s existing sylvinite Mineral Resources which total 1.08 Bt with an average grade of 35.5% KCl at the Kola and Dougou Extension Deposits.
* The Exploration Targets are within 40 km of the company?s proposed processing and export facility (Figure 3).
* Insoluble content of the sylvinite within the Exploration Targets is expected to be <0.5% which is extremely low compared to potash industry averages.
|Kore Potash, the potash exploration and development company whose flagship asset is the Company's 97%-owned Sintoukola Potash Project ("Kola" or the "Project"), located within the Republic of Congo, today released the following announcement on the Australian Securities Exchange ("ASX"), as required under the listing rules of the ASX Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project ("Project") in the Republic of Congo, provides an update on the Definitive Feasibility Study for the Kola Project.|
Further to the Company?s announcement on 30 October 2018, the Company confirms that on Wednesday 31 October 2018, the French Consortium of Engineering Companies (Technip France, Vinci Construction Grand Projets, Egis International and Louis Dreyfus Armateurs) delivered the final volume of the DFS documentation and the Company therefore has a complete set of DFS documents for its review. The Company has commenced its review of this study and will update shareholders further when this is complete and the DFS is finalised.
|Kore 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").|
*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.
*The Company declared a maiden sylvinite Mineral Resource Estimate for the Dougou Extension Sylvinite Deposit on 20 August 2018.
*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.
*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.
*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.
*At the end of the Quarter the Company held USD 11.7 million cash at bank.
|Kore Potash is pleased to announce the appointment of St James?s Corporate Services Limited (?SJCS?), a specialist company secretarial and corporate administration services provider, as interim joint company secretary with effect from 1 October 2018. SJCS joins current Joint Company Secretary, Henko Vos (based in Perth, Western Australia). The Board has received and accepted the resignation of Francesca Wilson as Joint Company Secretary of the Company with effect from 30 September 2018. |
|Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project (?Project?) in the Republic of Congo, provides an update on the status of the Definitive Feasibility Study (DFS) for the Kola Project. The French Consortium of Engineering Companies (Technip France, Vinci Construction Grand Projects, Egis International and Louis Dreyfus Armateurs) have informed the Company that the DFS documentation scheduled for delivery to the Company at the end of September is now scheduled for October 2018, when a period of review by the Company will commence.|
|The following are the company's maiden interim results therefore there are no comparatives. Loss for the period from continuing operations was recorded at USD4.6 million and basic loss per share was USD0.56 cents per share.|
|Kore announced the approval of a licence for the transhipment of potash and the discharge of waste brine in a dedicated offshore area (the ?Offshore Area?).|
- 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 Republic of Congo (the ?Maritime Authorisation?).
- The licence approves the transhipment location in what is considered the optimum location.
- This Maritime Authorisation is one of the pre-requisites to commencement of construction of offshore infrastructure in the Republic of Congo.
- This Maritime Authorisation relates to the Kola Project and to the Dougou and Dougou Extension Projects, is granted for twenty-five years and renewable for the life of the projects.
- This Authorisation represents another important step forward towards the development of the Kola Project.
|The Company notes the resignations of Messrs Pablo Altimiras (23 May 2018) and Sean Bennett (4 June 2018) as well as the appointments of Messrs Jose Antonio Merino (23 May 2018) and Brad Sampson (4 June 2018), as previously advised to the market on 23 May 2018 and 30 May 2018.|
Included is a copy of a change in director?s interest notice for Mr Bennett reflecting the redemption of his redeemable preference shares, the conversion of certain Chess Depository Interests (?CDI?s?) equivalents to issued capital (listed on the ASX) to fully paid ordinary shares (listed on AIM) and the cancellation of certain performance rights held by Mr Bennett following his resignation on 4 June 2018. Further included is copies of the Final Directors Interest Notices and Initial Director Interest Notices for the aforementioned Directors.
The Company notes the lodgement of these notices is outside the time prescribed by the ASX listing rules. The late lodgement was due to an administrative oversight. The Company, and each of the Directors affected, is aware of the requirements under ASX Listing Rules 3.19A and 3.19B. The administrative oversight has not affected the Company?s current arrangement for ensuring timely notification in accordance with the listing rules.
|Included is a copy of a change in director?s interest notice for Mr Hathorn, the Company?s Chairman, reflecting the previous redemption of his redeemable preference shares and the conversion of certain Chess Depository Interests (?CDI?s?) equivalents to issued capital (listed on the ASX) to fully paid ordinary shares (listed on AIM) which occurred on 23 March 2018 and 2 May 2018 respectively.|
The Company note the lodgement of the notice is outside the time prescribed by the ASX listing rules. The late lodgement was due to an administrative oversight. The Company, and Mr Hathorn, is aware of the requirements under ASX Listing Rules 3.19A and 3.19B. The administrative oversight has not affected the Company?s current arrangement for ensuring timely notification in accordance with the listing rules.
The change in director?s interest notice further reflects the recent issue of fully paid ordinary shares, equity warrants, performance rights and unlisted options following shareholder approvals at the recently held Annual General Meeting.
|Kore Potash advise that 1 500 000 unlisted options exercisable at AUD0.33 each expired unexercised on 26 June 2018.|
|Kore Potash announces that the resolutions put to its annual general meeting (?AGM?) held earlier on Wednesday 27 June 2018, were duly passed. |
The Company also advises that a change to the wording of resolution 24 was put to the AGM. Due to a typographical error, the resolution made reference to an aggregated nominal amount of US286 411 481 instead of US257 770 (being approximately 30% of the Company?s share capital). No objections were received to the amended wording and with the consent of the meeting resolution 24 was passed in its amended form.
The resolutions were all passed on a show of hands.
|Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project (?Kola? or the ?Project?), is pleased to advise that the company will be holding its first Annual General Meeting at 09:30 a.m. (UK) on 27 June 2018 at The Shard, Level 8, 32 London Bridge Street, London SE1 9SG. A circular to shareholders, incorporating the notice of the company?s AGM for 2018, together with forms of proxy and forms of instruction and the 2017 Annual Report have been sent today to registered shareholders.|
The company's annual report was also today, 1 June 2018, released on the Australian Stock Exchange ("ASX") as required under the listing rules of the ASX.
The company also advises that an ASX Appendix 4G (Key to Disclosures: Corporate Governance Council Principles and Recommendations) and its current Corporate Governance Statement have been released today and will shortly be available on the company's website: www.korepotash.com
Copies of the meeting materials are available on the company?s website at www.korepotash.com.
|Kore Potash, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project (?Kola? or the ?Project?), is pleased to announce the appointment of Mr Stuart Bradley (?Brad?) Sampson, aged 52, as Chief Executive Officer (?CEO?) and director, effective from 4 June 2018.|
Brad, a mining engineer, has more than 25 years? resources industry experience across numerous locations including West and Southern Africa. In addition to significant mine development and operating experience, Brad has held leadership positions at several publicly listed companies.
Brad was most recently CEO of Australian Securities Exchange (?ASX?) listed Tiger Resources Ltd., a copper producer in the Democratic Republic of the Congo which in January 2018 entered into a binding agreement to sell its assets to a Chinese group for US$250m. Prior to this, Brad held senior positions at Newcrest Mining Ltd, one of the world?s largest gold mining companies, including General Manager of Newcrest?s West African operations. From 2008 to 2013, Brad was the CEO of AIM/ASX listed Discovery Metals Ltd, where he was hired to lead the project financing, construction and subsequent production of the Company?s flagship copper asset in Botswana. Other notable positions include General Manager at Goldfields? operations in South Africa and Australia.
The outgoing CEO, Sean Bennett, will step down on 4 June 2018. As disclosed in the Company?s recent AIM admission document, Sean will remain available to the Company to support the financing developments.
|Kore Potash plc, the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project (?Kola? or the ?Project?), is pleased to announce the appointment of Mr Jos? Antonio Merino as a Non-Executive Director of the Board nominated by Sociedad Qu?mica y Minera de Chile S.A. (?SQM?) with immediate effect. Jos? Antonio replaces Pablo Altimiras, whose resignation was announced on 26 April 2018. Further to that announcement, Pablo?s resignation from the Board will be effective immediately.|
|Kore Potash, the potash exploration and development company whose flagship asset is the Company?s 97%-owned Sintoukola Potash Project (?Kola? or the ?Project?), located within the Republic of Congo, today released an announcement on the Australian Securities Exchange ("ASX"), as required under the listing rules of the ASX.|
|Kore Potash notes the recently published TR-1 notification from Harlequin Investments Ltd. (?Harlequin?) and confirms that based on the information provided by Harlequin, the interests as set out on page 390 of the Company?s admission document dated 26 March 2018 (?Admission Document?), were incorrect.|
Prior to Admission, Harlequin had an interest of 103 500 000 ordinary shares (13.42% of issued ordinary shares) and not 102 938 608 ordinary shares as stated in the Admission Document. Harlequin did not subscribe nor receive any ordinary shares or equity warrants in the placing in conjunction with the Admission Document (?Placing?), as opposed to the Admission Document which states that Harlequin received 4863 828 ordinary shares and 750 000 equity warrants in the Placing. As such, following Admission, Harlequin?s interest was 103 500 000 ordinary shares, representing 12.05% of issued ordinary shares.
The placing of 4 863 828 ordinary shares and 750 000 equity warrants as part of the Placing was received by David Stevens, a beneficiary but not associate of Harlequin in their own personal capacity.
|Kore announced that it has received confirmation from Mr Pablo Altimiras, a Non-Executive Director of the Company and Board appointee of Sociedad Quimica y Minera (?SQM?), of his intention to resign from his position effective at the Company?s next AGM. It is SQM?s intention to appoint a replacement Non-Executive Director in due course and SQM has confirmed that it remains fully supportive of the Company and looks forward to working with the Company to achieve its objective of becoming one of the world?s lowest cost potash producers.|
Mr Altimiras will be leaving for personal reasons. The Company is grateful for his contributions over the past year and wishes him well in his future endeavours.
|Kore announced a decision by ASX in response to the Company?s application for a waiver of ASX Listing Rule 2.4 and ASX Listing Rule 2.8. These waivers relate to the ASX quotation of CDIs on issue, as distinct from the total number of ordinary shares on issue, and the lodgement of Appendix 3Bs relating to the net change in the number of CDIs issued in the Australian market.|
The grant of these waivers will reduce the administrative burden on the Company while ensuring that the market is updated regularly about the number of CDIs in existence.
|Kore refers to the ASX announcement dated 26 March 2018 in relation to the issue of 83 523 344 new ordinary shares (Shares) in the capital of the Company (equivalent to 83,523,344 CHESS Depositary Interests (CDIs)) to existing and new investors at AUD0.20 per Share to raise USD12.89 million (Placement Shares).|
The Placement Shares were issued on 29 March 2018 and rank equally with the Company?s existing ordinary shares on issue. On conversion of the Placement Shares to CDIs, those CDIs will rank equally with all other CDIs on issue.
The Company also notes the issue of a further 4 315 333 Shares (equivalent to 4 315 333 CDIs) to Canaccord Genuity Ltd. and Rencap Securities (Pty) Ltd. at AUD0.12 per Share, for a total of AUD517 840, as part of their placing fees for the Placement Shares (Placing Fee Shares). The Placing Fee Shares were issued under the Company?s existing 15% placement capacity under Listing Rule 7.1.
The Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) as modified by ASIC Class Order 14/827 that:
- the Placement Shares and Placing Fee Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;
- as at the date of this notice, the Company has complied with section 601CK and section 674 of the Corporations Act; and
- as at the date of this notice, there is no "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed under section 708A(6)(e) of the Corporations Act.
|The following are the company's maiden results for the year following its listing, therefore there are no comparatives. Loss attributable to owners of the company was USD4.3 million and loss per share was recorded at USD0.57 cents per share.|
Dividends paid or recommended
In respect of the year ended 31 December 2017, no dividends have been paid or declared since the start of the financial year and the directors do not recommend the payment of a dividend in respect of the financial year.
Annual general meeting (?AGM?)
This report and financial statements will be presented to shareholders for their approval at the AGM. The Notice of the AGM will be distributed to shareholders together with the annual report.
|Kore Potash plc (ASX:KP2) is an advanced stage mineral exploration and development company that is incorporated in the United Kingdom and is in the process of an AIM listing. The primary asset of KP2 is the 97%-owned Sintoukola Potash SA (SPSA) in the Republic of Congo. SPSA has 100% ownership of the Kola Mining Lease within which the Company?s lead project, the Kola Sylvinite Deposit (Measured and Indicated Potash Mineral Resource of 508 million tonnes grading 35.4% KCl) is located. SPSA also has 100% ownership of the Dougou Mining Lease within which the Dougou Carnallitite Deposit (Measured and Indicated Potash Mineral Resource of 1.1 billion tonnes grading 20.6% KCl) and the Dougou Extension Sylvinite Prospect are situated.|