UK-headquartered Kore Potash expects to finalise an optimisation study report, and an engineering, procurement and construction (EPC) contract proposal for the Kola potash project, in Congo-Brazzaville, before the end of this quarter.
Sixty days after the completion of the optimisation study, the company expects to receive a financing proposal from Summit Consortium – which it has a memorandum of understanding in place with – for the full construction cost of Kola.
This while an updated geological model has been completed for the DX Potash project, also in Congo-Brazzaville.
“The first half of 2022 is set to be a very busy period for Kore, particularly with the imminent completion of the optimisation study and receipt of the EPC proposal for our flagship Kola potash project.
“The delivery of the financing proposal for the full financing of the construction of Kola is a key milestone for our company. We are looking forward to the completion of the financing phase and being able to move rapidly into the construction of Kola,” says CEO Brad Sampson.