KORE POTASH PLC – Non-binding Memorandum of Understanding to arrange full financing required for construction of Kola Potash Project - SENS moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
Kore Potash on-track to developing roadmap for Kola project financing
Tue, 6th Apr 2021 09:54
(Alliance News) - Kore Potash PLC on Tuesday inked a memorandum of understanding arranging the full financing required for the construction of the Kola potash project in Republic of Congo.
The potash development company focused on the Congo said has signed a non-binding memorandum of understanding with Summit which outlines a roadmap to optimise, fully finance and construct Kola via a mix of debt and royalty financing.
Kore Potash shares were up 26% at 1.80 pence each in London on Tuesday morning. In Johannesburg, the stock was up 2.9% at ZAR0.35.
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Change in Non-Executive Director Kore Potash plc, the potash development company with 97%-ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located within the Republic of Congo ( RoC ), is pleased to announce the appointment of Mr Sameer Oundhakar as a Non-Executive Director of the Company nominated by the Oman Investment Authority ( OIA ) with effect from 1 April 2021. Sameer replaces Mr Tim Keating who has resigned from the Board with effect from 1 April 2021. Mr Oundhakar, aged 47, joined OIA in 2018 and currently holds the position of Senior Manager - Diversified Private Equity Investments. He has extensive private equity experience across diverse industry sectors / geographies and represents OIA on investee company boards in Europe, Latin America and the Middle East. He has lived and worked in the Middle East (OIA, Seera), UK (Boston Consulting Group, Columbia Threadneedle, American Express), France and India (HSBC, Larsen & Toubr
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