Kore Potash announces audited 2024 results and operational highlights

Kore Potash (JSE:KP2E) has released its audited financial results and operational highlights for the year ended 31 December 2024, marking significant progress in the development of the Sintoukola Potash Project ("Kola Project"). A key achievement was the signing of an Engineering, Procurement and Construction (EPC) contract with PowerChina for the Kola Project on 19 November 2024, valued at USD1.929 billion. The optimized DFS, announced on 27 February 2025, indicates a mine life of 23 years, utilizing Proved and Probable Ore Reserves and a small portion of Inferred Mineral Resources. Financially, the Group's Total Comprehensive loss for the year was USD10,754,786 and as at 31 December 2024 cash and cash equivalents totaled USD1,339,321. Net assets decreased to USD167,304,043, primarily due to currency fluctuations. The company anticipates needing to raise funds in Q4 2025 to meet working capital requirements.