https://www.miningweekly.com

Kore buys drill rigs, other equipment

6th December 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Potash exploration and development company Kore Potash has bought two drill rigs and ancillary equipment from Equity Drilling for use in a prefeasibility study (PFS) drilling campaign at the DX project in Congo-Brazzaville.

As consideration for the acquisition, 22-million new ordinary shares in the company are being issued to the vendor at a deemed price of 1.23p each. The acquisition is in line with the company’s strategy to undertake its development plans in a cost-effective manner.

Commenting on the announcement, Kore CEO Brad Sampson said that in addition to being the most cost effective way to complete the DX PFS drilling programme, this equipment may “also be used for any future project development related drilling”.

To watch Creamer Media's latest video reports, click here
 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION