Kore Potash, the JSE- and AIM-listed developer of the commodity mainly used in agriculture and industrial chemicals, will list on South Africa’s A2X Exchange this month.
With potash development projects that include Kola and DX Potash in the Sintoukola basin of the Congo Brazzaville, shares in Kore Potash will start trading on the A2X Exchange next week.
“Potash is pleased to advise shareholders that the company’s ordinary shares have been approved for inclusion in the list of qualifying equity securities to be traded on the A2X Exchange,” the company said yesterday.
The A2X Exchange provides a secondary listing avenue for companies and is regulated by the Financial Sector Conduct Authority and the Prudential Authority of the South African Reserve Bank.
Kore Potash said its listing on the A2X Exchange “will provide an additional venue to transact and increase the liquidity of trading of ordinary shares” in the company.
The new listing will not affect Kore Potash’s listings on the London Stock Exchange (AIM), JSE Limited and the Australian Securities Exchange.
Its issued share capital will also be unaffected by the secondary listing on A2X.
Last year, Kore Potash received a letter of support from the Ministry of Mines in the Congo-Brazzaville regarding development of its Kola potash project.
This was in acknowledgement and confirmation of the company’s mining titles over the project as well as the covenant agreement for its operations.
Kore Potash believes that the Kola potash operation will have a lifespan of 33 years under which it will produce up to 2.2 million tons of the commodity per year.
In 2021, Kore Potash announced that it had signed a memorandum of understanding with the Summit Consortium to provide financing for the Kola project.
However, at the time, the project required that an optimisation study on the mine be concluded first.
BUSINESS REPORT