Kore Potash continuing work on Dougou Extension

28th Apr 2020 15:17

(Sharecast News) - Republic of the Congo-focussed exploration and development company Kore Potash updated the market on operations in its first quarter on Tuesday, saying detailed work had continued on the Dougou Extension (DX) pre-feasibility study on its flagship, 97%-owned Sintoukola project during the period.
The AIM-traded firm said it expected publication of the study in May.

It said technical studies, design and costing had now been delivered for review, and added that extensions of the environmental approval period to 25 years for the Kola and Dougou mining licences were received on 31 March.

The company said it was still engaged with the Congolese government on the implementation of specific commitments contained within the mining convention.

Kore Potash said that at period end on 31 March, it held $4.7m (?3.77m) in cash at bank.

"We are excited to be nearing completion of the DX pre-feasibility study," said chief executive officer Brad Sampson.

"The DX project with its very high grade and shallow potash, and close proximity to the coastline and the major port of Pointe Noire is ideally placed to produce potash at low cost for supply into the nearby and growing markets in Africa and South America."

At 1500 BST, shares in Kore Potash were down 10.56% at 0.8p.