Kore Potash Raises $12.2M, Advances Kola Drilling and Engineering Tests

Operational Progress on Kola Project

Kore Potash has reported steady advancement in the development of its flagship Kola Potash Project in the Republic of Congo during the December 2025 quarter. Under the Early Works Agreement with PowerChina International Group, the company successfully completed beneficiation tests in China, validated by an independent Canadian potash expert, reassuring all engineering and construction stakeholders. Concurrently, detailed engineering surveys and geotechnical investigations around the main and ventilation shafts were conducted on-site, providing critical data for the Front End Engineering Design phase.

Marine drilling activities commenced in December 2025 with mobilisation of an offshore drilling platform to assess seabed conditions around the future jetty area. This work received formal government approval in January 2026, marking a key milestone in infrastructure development essential for project logistics.

Environmental and Regulatory Considerations

The update of the Environmental and Social Impact Assessment (ESIA), initiated earlier in 2025, experienced a temporary slowdown as Kore Potash considers design modifications that could affect the Relocation Action Plan, a critical component for land acquisition under the Republic of Congo’s regulatory framework. The company expects to resume ESIA activities in April 2026 after submitting the updated Terms of Reference to the Ministry of Environment. Meanwhile, government relations remain positive, with the Minister of Mines expressing full support and emphasising the importance of job creation in the Kouilou Province.

Corporate Developments and Financing

Kore Potash continues to pursue a comprehensive financing package for the Kola Project, engaging with OWI-RAMS GMHB and potential development finance institutions. A key focus remains on appointing a contract operator and securing a strategic partner with proven potash mining and processing expertise, which financiers have identified as essential to de-risking the project.

In parallel, the company has initiated a Formal Sale Process (FSP) and has attracted interest from two parties evaluating a potential acquisition of the entire issued and to-be-issued share capital. Due diligence and site visits are ongoing, with further announcements anticipated.

Financially, Kore Potash successfully completed a $12.2 million capital raise in November 2025, issuing over 319 million new shares. As of 31 December 2025, the company held approximately $10.5 million in cash, supporting ongoing exploration and development activities. No mining production or construction took place during the quarter, reflecting the project’s current development phase.

Strategic Outlook

While the primary focus remains on advancing the Kola Project towards construction, Kore Potash is also reviewing strategic options for its Dougou Extension project. The outcomes of the Formal Sale Process and financing negotiations will be pivotal in shaping the company’s next steps. Market watchers will be keen to see how these developments influence Kore Potash’s ability to unlock value from its substantial potash resources in the Republic of Congo.