Kore Potash PLC - London-based owner of the Kola and DX potash projects in Republic of Congo - Chair David Hathorn will subscribe for new shares at a price of 1.7 pence each for $500,000 or around £380,000 via two separate trusts - Belle Terre Trust and Stapleford Trust. Hathorn’s share subscription comes after Kore said on March 21 it had raised around $10.1 million through a placing and subscription of new shares at 1.7 pence each to support development at its Kola potash project in the Republic of Congo. Hathorn owns 373.1 million shares or 7.7% in Kore.
On Monday this week, Kore said it sought to raise funds in the fourth quarter of 2025 for its working capital needs, while the Kola potash project. Kore is waiting for the Summit Consortium to finalise the non-binding financing term sheet for the Kola potash project by mid-April or before the end of this month. It said late in February capital cost on a signed fixed price engineering, procurement & construction contract amounted to $2.07 billion.
Stock price in London: 1.86 pence
12-month change: multiplied from 0.50p on April 3, 2024
Stock price in Johannesburg: 45 rand cents
12-month change: multiplied from 14 cents on April 3, 2024
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