Market's view on Kore Potash
Published on April 2024
- There is ongoing unrest in Congo, raising concerns about its impact on Kore due to escalating violence and potential for war.
- Kore Potash PLC provided an EPC update, reassuring that project timelines are being maintained with key future dates for the EPC offer and signing outlined.
- Discussions highlighted the financial challenges Kore faces, noting a recent share price adjustment and financial injections by executives amid leadership changes.
- Concerns were raised about Kore’s financial position, especially their ability to cover upcoming costs associated with SEPCO/Power China for the EPC, despite recent funding.
- Speculations circulate about potential positive movement in Kore’s share price following future financing proposals linked to the EPC contract.
- Observations were made about the company’s poor performance in recent times.
- Positive movements in stock were linked to speculative buys ahead of anticipated favourable news releases.
- Questions were raised about Kore’s discussions with partners like Sweco and the potential implications of failed negotiations.
- Concerns were expressed over potential delays in project progress as SEPCO and Power China might need further board approvals before finalising contractual terms.
- Skepticism was noted regarding the handling of business and governance in the regions where Kore operates, particularly concerning the transparency and efficacy of government actions and their implications on Kore’s operations.