Kore Potash Share Discussion Threads

[fromthesidelines] 02/11/2018 07:06

77% up on ASX last night

[babbler] 01/11/2018 22:03

Of course they have... Doesn't stop the ramping. ;)

[l1tecoin] 01/11/2018 18:38

Fill your boots here it will make you rich Trust L1

[pegasus59] 01/11/2018 17:53

Must be a lot of potash in the Congo basin and this one sounds even better than KOREhttps://www.africanagronomix.com/potassium-1

[fromthesidelines] 01/11/2018 17:52

jailbird if that post was from sider then that's me. kp2 interviewed when launched on JSE https://youtu.be/G0DVVqJPU_s (OR YOUTUBE SEARCH KORE POTASH) about 6 mins 57 secs total costs plus shipping to Brazil $100 per tone. he also states letters of comfort from French government for 500/600 million (not sure if dollars or euros) there are other interviews as well as presentations on YouTube worth a watch.

[thomstar] 01/11/2018 17:44

10p plus by 1200

[jailbird] 01/11/2018 17:29

Read this LSE.. is this correct ?Kp2Estimating production cost at $100 with sales at apex $250 per ton .

[jailbird] 01/11/2018 17:21

I bit complexBut I found this .. see how it compares https://ftalphaville.ft.com/2018/08/07/1533614400000/Sirius-Minerals--money-for-a-hole-in-the-ground/

[fromthesidelines] 01/11/2018 17:14

jailbird. kp2 estimate approx $100 per ton all in cost. any idea what SXX are at?? TIA

[jailbird] 01/11/2018 17:12

It will be volatile but that is expected Just have too look at SXX Simplistic opinion . From first readings , I do not think it will worth the same as SXXI take 50% less , so £500m eventually over time SXX v kp2 Funding required £2.7b v 1.8v - KP2 needs a lot less Albeit a different potash product Resource asset 2.66b T v 1b T KP2 resource less too

[jailbird] 01/11/2018 16:53

Ok doing further research now so apologies for repeat info https://www.sharesmagazine.co.uk/article/kore-potash-to-rival-sirius-minerals-with-world-class-mining-project?%2Farticle%2Fkore-potash-to-rival-sirius-minerals-with-world-class-mining-project=Dingyi failed with bid last time of $123m .. an interesting situation as they are also a holder Fans of British mining stock Sirius Minerals (SXX) may be interested in another potash company called Kore Potash (KP2:AIM) which has just listed on the UK stock market.Analysts reckon it has a world class project which is likely to have some of the lowest operating costs in the industry, implying scope to make healthy profit margins if potash prices hold up.Later this year Kore will have to raise a very large amount of money. Current estimates suggest its Kola project in the Republic of Congo will cost $1.8bn to build.Chief executive Sean Bennett believes one third of the money will have to be raised from investors, adding up to $600m (£427m). That's more than four and a half times its current market cap (£90.2m). The remaining $1.2bn will come from debt finance.'Our big investors know we have to raise a lot of money once our definitive feasibility study is out at the end of the second quarter or in the third quarter this year,' explains Bennett. 'They wouldn't have backed us if they weren't willing to help with the costs of the mine build.'Kore (when known as Elemental Minerals) received a $123m takeover offer from Asian investor Dingyi Group in 2013 but the deal fell through for technical reasons linked to red tape around a stock market listing in Hong Kong.Dingyi now owns 8.82% of Kore and is the fourth largest shareholder. Other big investors include SGRF (Oman's state general reserve fund) at 19.06%, Chile lithium producer SQM at 17.55%, and Harlequin Investments at 12.55%.Bennett says Kore will look to switch listings from AIM to London's Main Market when it raises money for the mine build, similar to the route followed by Sirius Minerals.He hopes to start construction next year and begin production in 2022, meaning it is just behind Sirius which is already building and eyeing a 2021 start-up for its potash project in Yorkshire.Kore has an advantageous position thanks to its ore body being relatively shallow compared to many potash mines at 190m to 340m deep. In comparison, Sirius is sinking a shaft to a depth of 1,500m.Kore will produce MOP which is the most common potassium source used in agriculture, accounting for approximately 95% of all potash fertilisers used worldwide. Sirius plans to produce polyhalite which has an unproven market.Kore is at a disadvantage to Sirius from a financing perspective. The latter has already raised its mine money and arguably operates in a lower risk geography from an investment perspective.The pair could soon be joined on the London stock market by another potash miner, Danakali. It has a joint venture in Eritrea on the Colluli project which could start production in 2020 via open pit mining. (DC)

[babbler] 01/11/2018 16:29

Comment of the day...

[l1tecoin] 01/11/2018 16:25

Expecting a quid tomorrow ! Trust L1

[fromthesidelines] 01/11/2018 16:15

chart today typical good rise followed by a small sell off should rise into close. check asx:kp2 tomorrow am and see how it's performed might help push up tomorrow. one day left this week. not sure how long review will be but they have obviously carried out some form of review prior to receiving DFS.

[bob1995] 01/11/2018 16:12

Looking string for a push over 11p tomorrow

[fromthesidelines] 01/11/2018 15:39

600 million to be raised rest debt funded. think earlier estimates were $1.6 billion construction costs

[whoppy] 01/11/2018 15:39

How long will it take to read through 17 volumes? I presume they don't have to read through all of it to announce conclusions on economics of the project and costs.. etc.
Or will we have to wait.

[bob1995] 01/11/2018 15:39

People starting to realise its a multi billion pound asset and mcap 50 million

[babbler] 01/11/2018 15:37

Does look oversold. How much funding and at what price is the question... Hopefully a lot higher than today's price

[jailbird] 01/11/2018 15:28

Will need to read up more on assets etc to compare properly Some of you may know more Looks like DFS delays was holding this back

[jailbird] 01/11/2018 15:26

Had just checked SXX has 4.7b shares in issue and mkt cap £1bKP2 has 900m shares in issue and worth 52m

[jailbird] 01/11/2018 15:23

But it is rerating as DFS is a derisk milestone which allows funding and offtake to begin negotiations

[jailbird] 01/11/2018 15:19

If this compares to what SXX is being valued at then long way to go But will not happen overnight

[bob1995] 01/11/2018 15:10

Some big late buys recorded after hours for sure