Kore Potash and intends to complete the listing on AIM by the end of 2017.
Canaccord Genuity is acting as Kore’s advisor in relation to the listing.
This is part of Kore Potash’s 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, which is located in the 97%-owned Sintoukola Potash SARL in the Republic of Congo.
Kore Potash’s shares will continue to be listed and trade on the Australian Stock Exchange (ASX).
Kore Potash recently provided an updated Mineral Resource Estimate for the Kola deposit.
The update was completed to provide the basis for the Kola DFS that is underway. Importantly, it confirms the significant size and high grade nature of the Kola deposit.
A large amount of new data was used in the updated Mineral Resource interpretation and estimation.
This includes 186 km of re-processed seismic data, and six new drill-holes, for a total of 52 drill-holes.
“We are delighted to report that the updated Kola Mineral Resource estimate has confirmed the deposit is truly world-class,” states Kore Potash CEO, Sean Bennett.
“A significant amount of new data and interpretation has been incorporated into the new resource, which with a materially higher overall KCl grade, forms a strengthened foundation for the upcoming DFS.
“With more than half a billion tonnes of Sylvinite, Kola should support a long life-of-mine and at a grade of over 35% KCl, the deposit remains on a par with the world’s highest grading operating potash mines.
“We anticipate that this, coupled with the advantages offered by Kola’s location, shallow depth, seam thickness and continuity, will allow Kore to realise promising results from the DFS that is currently underway and due for completion in Q2, 2018.
“Furthermore, Kola remains open laterally in most directions, creating further opportunity for expansion,” concludes Bennett.