Congo : Kore Potash to capture investors on AIM for potash assets

ASX listed Kore Potash Ltd is seeking room on AIM to capture more UK and European investors for its 97% owned flagship potash asset Kola, in Congo.

First production of muriate of potash (MoP) in the project should occur in 2022.

Listing on the London Stock Exchange is expected to be completed by the end of 2017, the Australian advanced stage mineral exploration and development company reported on Monday.

It is part of its strategy “to increase share trading liquidity and capture a greater proportion of the substantial UK and European investor interest in the Company and its flagship potash development asset Kola”, it said.

Recent update has revealed that Kola deposit hosts 508 million tonnes of measured and indicated Sylvinite resource grading 35.4% KCl.

The definitive feasibility study on the project is in progress and is expected to be completed in the second quarter 2018.

The complete EPC offer for project execution is expected in third quarter 2018, while the start of construction is forecast for second half 2018.

Kore Potash has substantial interest in potash projects that, in Congo, have the potential to be among the world’s lowest-cost potash producers.

Their location near the coast offers a transport cost advantage to global fertilizer markets.

In fact, Sintoukola Potash SARL, 97% owned subsidiary of Kore Potash Ltd, has 100% ownership of the Kola Mining Lease encompassing the Kola Sylvinite deposit.

It also has 100% ownership of Dougou Mining Lease within which the Dougou Carnallitite Deposit and the Dougou Extension Prospect are situated.

These projects are easily accessed, being located approximately 80 km to the north of the city of Pointe Noire and 15 to 30 km from the Atlantic coast.