Kore Potash has a big project, big plans, and even bigger backers
14:00 21 Jul 2017
Kore Potash has access to deep pockets when it comes to development plans for its Kola project in the Republic of Congo
The decision of Kore Potash Limited (ASX:K2P) to seek a London listing, announced earlier this month, could mark a significant turning point for London’s mining sector.
Kore itself has been around in Australia for a while, and its market capitalisation of A$130 mln speaks to some extent of the potential value of the potash assets it has in the ground in the Republic of Congo.
But what’s really noteworthy is the confidence with which chief executive Sean Bennett speaks of the potential capex number that will be required to bring the company’s Kola project into production.
According to a previously completed prefeasibility it’s likely to run to around US$1.8bn, and Bennett is confident of finding the support, especially with cornerstone investors like SQM and SGRF backing the company. What’s more, Bennett is also confident that Kore can reduce this capex number.
K2P Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
