- Write by:
-
Wednesday, August 26, 2020 - 2:17:28 PM
-
595 Visit
-
Print
Mining News Pro - Kore Potash on Wednesday announced a $7-million capital raise to fund the first phase of a definitive feasibility study (DFS) for its Dougou extension sylvenite project, in the Republic of Congo.
The placement is being conducted via an accelerated bookbuild, with the shares priced at 0.65p a share.
Kore told shareholders that the company had received indications from a number of its largest existing shareholders and its chairperson David Hathorn, that they would participate in the proposed fundraise.
The funds raised will go towards the first phase of DFS, which will include resource and reserve drilling, and restarting the production target and economic modeling to incorporate the updated mineral resource and ore reserves.
A previously completed prefeasibility study into the Dougou extension project estimated a nameplate production target of 400 000 t/y of muriate of potash over an initial mine life of 18 years, with the project projected to require a capital investment of $286-million.
Meanwhile, Kore is also proposing to enter into a conditional technical services agreement with shareholder Sociedad Quimica y Minera de Chile, or SQM, to provide certain services in connection to the first phase of the DFS for a total value of $540 000, which will be satisfied by the issue of Kore shares.
Short Link:
https://www.miningnews.ir/En/News/590607
Democratic Republic of Congo and Chinese investors on Thursday signed an agreement reached in January that revises some ...
Mining News Pro - Speculation about Anglo American (LON: AAL) becoming the target of a takeover by a rival or a private ...
Mining News Pro - BHP Group Ltd. (ASX: BHP) CEO Mike Henry is talking down the chances of acquiring Canadian fertilizer ...
Mining News Pro - Fertilizer makers jumped after Hamas’ surprise attack on Israel raised concerns over how the conflict ...
Mining News Pro - Canada’s Brazil Potash has scored a key win in its battle to build its $2.5bn Autazes project in the ...
Mining News Pro - Sulphate of potash miner Kalium Lakes has entered into administration, appointing Rob Brauer, Jason ...
Mining News Pro - Nutrien Ltd. is curtailing production at a Saskatchewan potash mine because of a dockworkers’ strike ...
Mining News Pro - Canadian Labor Minister Seamus O’Regan said negotiators have made progress toward a deal to end a ...
Mining News Pro - Canadian Labor Minister Seamus O’Regan said negotiators have made progress toward a deal to end a ...
No comments have been posted yet ...