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Kore Potash PLC - London-based owner of the Kola and DX potash projects in Republic of Congo - Says the Australian Securities Exchange on Thursday suspended its shares after failing to comply with the timeline to give details of its financing deal. Kore said on Monday it had received the draft financing proposal and draft non-binding term sheets for the Kola potash project in the Republic of Congo from the Summit Consortium, an investment group that represents investors and engineering firms. Kore has until May 31 to consider, negotiate if necessary, and settle on the terms. Kore says it is unable to comply with the timeline imposed by the ASX to reveal details of the term sheets, given ongoing review and negotiation. The company says it is unable to comply with the requirement before market open on Thursday. Says trading in its shares on AIM and the Johannesburg Stock Exchange continues as normal. In November last year, Kore signed the engineering, procurement and construction contract for Kola with PowerChina International Group Ltd. It said late in February the capital cost on a signed fixed price engineering, procurement & construction contract amounted to $2.07 billion. Stock price in London: 2.98 pence 12-month change: multiplied from 0.52p on May 2, 2024 Stock price in Johannesburg: 64 rand cents 12-month change: multiplied from 12 cents on May 2,2024 Copyright 2025 Alliance News Ltd. All Rights Reserved.
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