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Kore Potash Plc (ASX:KP2)

ALERT: Price-sensitive ASX Announcement for KP2
Current share price for KP2 : $0.059 -0.005 (-7.81%)+
Announcement
Release
2 Mar 2026 9:26AM
Price at Release
$0.064
Full Release
download
Summary
Kore Potash Plc, a potash development company listed on ASX, AIM, and JSE as KP2, has announced the acquisition of a 0.46% interest in Sintoukola Potash SA (SPSA) and has secured a conditional right to acquire the remaining minority interest from Etablissements MGM, a shareholder from the Republic of Congo. The acquisition aims to increase Kore's holdings to 100% in SPSA, which aligns with its strategy to fully control the Kola Potash Project. The purchase of the shares is set at US$1 million, funded from existing resources, with an option to acquire the remaining 2.54% subject to certain conditions, including a takeover offer completion within a year. The acquisition terms ensure compliance with Kore's strategic interests, although the government of the Republic of Congo retains a 10% interest in related projects.
Key Points
  • Kore Potash acquires 0.46% interest in SPSA from MGM.
  • Conditional right to acquire remaining 2.54% interest in SPSA.
  • Acquisition aligns with Kore's strategy for full ownership of Kola Project.
  • Purchase price of US$1 million funded from existing resources.
  • Completion subject to a takeover offer becoming unconditional within 12 months.
  • The Republic of Congo retains 10% interest in Kola and DX Projects.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.