Kore Potash reports optimized DFS, $2.2bn funding progress

Kore Potash Plc announced its unaudited financial results for the half year ended 30 June 2025, reporting a net operating loss after tax of $435,428. Cash and cash equivalents stood at $3,499,143 at period-end, with exploration and evaluation assets increasing to $196,123,524. The company completed a $10.5m fundraise and capitalized $6,368,341 in exploration and evaluation expenditure.

A key highlight was the optimized DFS announcement on February 27, 2025, based on a 23-year mine life utilizing proved and probable ore reserves and 6% of inferred mineral resources. Kore Potash signed non-binding term sheets with OWI-RAMS GMBH on June 10, 2025, for a potential $2.2bn funding package for the Kola project, comprising senior secured project finance and royalty financing.

The company also granted options over 4,000,000 new ordinary shares to non-executive directors and 2,000,000 to the chairman on April 22, 2025. Additionally, options over 9,000,000 new ordinary shares, previously reported in June 2022, were approved by shareholders as vesting conditions were met.