Kore Potash: Kola financing term sheet delivery delayed
Kore Potash (JSE:KP2) today announced that the Summit Consortium will not meet the initial end-of-March 2025 deadline for delivering the non-binding financing term sheet for the Kola Project. While progress has been made, the consortium needs more time to finalize the term sheet, citing internal process challenges exacerbated by the Ramadan season and Eid celebrations. The company now expects the Summit Consortium to deliver the term sheet before the end of April 2025, with hopes for delivery by mid-April. The Kola Project, the company's flagship 97%-owned Sintoukola Potash Project located in the Republic of Congo ("RoC"), is underpinned by the EPC Contract signed last year and the Kola Project Optimised DFS, announced on 27 February 2025.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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