Kore Potash raises $12.2m
ASX-, JSE- and LSE-listed miner Kore Potash has conditionally raised about $12.2-million, or £9.2-million, through direct subscriptions of new ordinary shares.
The company undertook a fundraise for certain eligible existing shareholders and new institutional and other investors at a price of £0.029 apiece.
The company owns 97% of the Sintoukola potash project, in Congo-Brazzaville.
Kore intends to use $2.2-million of the funds to settle outstanding payments to PowerChina International Group for optimisation work undertaken in 2022 and 2023; $800 000 for an updated environmental- and social-impact assessment; $3-million for legal and advisory costs; $200 000 for early testwork support; and $6-million for working capital.
Kore says the net proceeds of the fundraise will provide sufficient working capital for the company to implement its strategy for the next 12 months.
The group’s two largest shareholders, the Oman Investment Authority and Sociedad Quimica y Minera, have been offered the opportunity to subscribe for new ordinary shares in the company at the same issue piece to preserve their respective shareholdings – they have 20 business days to confirm their participation.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















