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Hathorn to step in as interim CEO at Kore

31st October 2023

By: Creamer Media Reporter

     

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Brad Sampson will step down as CEO of Aim- and JSE-listed Kore Potash at the end of November, with chairperson David Hathorn to assume the role of CEO in the interim.

Kore, which owns the Kola and DX potash projects, in the Sintoukola basin, in Congo-Brazzaville, says Sampson has resigned to pursue other business interests.

The company does not intend to appoint a new CEO until after the receipt of the financing proposal for the construction of the Kola project.

The process to reach agreement on engineering, procurement and construction (EPC) contract terms, and to receive a financing proposal for the full construction cost of the Kola project, is near completion and is expected to be finalised during the first quarter of 2024, with construction contractors scheduled to be mobilised during the first half of next year.

"The board and management team of Kore Potash would like to thank Brad for his leadership and valuable contribution to the company over the last five years. We wish Brad every success in the future," Hathorn comments.

Meanwhile, the company has also raised $2.5-million through the issue of 542.25-million new shares, with the proceeds to be used to advance work that is expected to lead to delivery of an EPC contract for the Kola project.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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