Kore Potash holds $6.4M cash as Congo mining convention talks continue

Kore Potash held about US$6.4 million in cash at September 30, 2026, the end of the quarter it reported on October 30. It spent US$662,000 on exploration in the quarter, of which US$659,000 went to the Kola study and US$3,000 to the DX feasibility study. There was no mining production or construction activity.

Most of the company’s effort went into clarifying how its mining convention with the Republic of Congo applies under the country’s new mining law, Law No. 1-2026 of April 18, 2026. Kore said it held constructive meetings with the Ministry of Mining Industries and Geology, including a multi-ministerial working group.

Environmental and social impact work on the Kola project resumed in April after a six-month pause but was not completed. The company said it lacks visibility on the final design changes that new strategic investors may request. A government-led land exercise, which Kore calls a prerequisite for making land available to its subsidiaries, is also pending.

On the corporate side, one party withdrew from the strategic process in February. A new party approached the company on June 8 and is evaluating an acquisition of its full share capital, so two parties are now engaged. Kore Potash holds 97.58% of the Kola project and released its half-year report on September 11.

Source: TradingView