Wrap Text
Extracts from Financial Report for the Half Year Ended 30 June 2026
Kore Potash Plc
(Incorporated in England and Wales)
Registration number 10933682
ASX share code: KP2
AIM share code: KP2
JSE share code: KP2
A2X share code: KP2
ISIN: GB00BYP2QJ94
CDI ISIN: AU000000KP25
(“Kore Potash” or the “Company”)
("Group" refers to Kore Potash Plc and its subsidiaries)
11 September 2026
Extracts from Financial Report for the Half Year Ended 30 June 2026
Kore Potash, the potash development company with 97.46%-ownership of the Kola and DX Potash
Projects in the Sintoukola Basin, located within the Republic of Congo ("RoC"), today reports its
unaudited financial results and operational highlights for the half year ended 30 June 2026 ("the
Period").
The full financial report is available online at the Company's website
at https://korepotash.com/wp-content/uploads/2026/09/Kore-Potash-Plc-Half-year-report-
2026.pdf. The financial statements contained within this announcement should be read in
conjunction with the notes contained within the full financial report.
SUMMARY OF KEY DEVELOPMENTS
HIGHLIGHTS
• The Company's efforts during the Period were largely focused on advancing the Formal Sale
Process. On 4 November 2025 the Company announced that it had commenced a Formal Sale
Process, having received approaches from two parties, each evaluating the possible acquisition of
the entire issued, and to be issued, share capital of the Company. On 27 February 2026 one of those
parties notified the Company that it had decided to suspend its interest and was unable to proceed
for internal reasons. The other party remained engaged and is continuing its due diligence. On 8
June 2026 the Company was approached by a new party wishing to participate, which has begun
evaluating the possible acquisition of the entire issued, and to be issued, share capital of the
Company. Two parties were engaged in the Formal Sale Process as at 30 June 2026, and both
remain engaged at the date of approval of this half-year report.
• On 2 March 2026 the Company announced the purchase of a 0.46% interest in the share capital of
Sintoukola Potash S.A. and a conditional right to acquire the remaining outstanding minority shares.
The Company is under no obligation to exercise the right. The purchase completed during the
Period and increased the Company's holding in SPSA to 97.46%.
• Marine drilling work and bathymetric studies covering approximately 129 hectares of sea area,
together with topographic studies covering a further 15 hectares of coastline, both essential to the
jetty design, were completed during the first quarter to the satisfaction of all parties.
• The Beneficiation Test condition precedent under the Early Works Agreement with PowerChina was
satisfied following completion of the validation tests at the China ENFI laboratories.
• Shaft and underground mining Front-End Engineering Design work continued between PowerChina
and UMS. Changes are being made to the shaft design because the vertical conveyor system is no
longer manufactured by the approved supplier. An alternative has been identified and will require
some minor redesign.
• The update of the Environmental and Social Impact Assessment for the Kola Project resumed in
April 2026 after a six-month hiatus. The work could not be completed for lack of visibility as to the
final design changes to be requested by the new strategic investors, and at the end of May 2026 it
was suspended to allow the Formal Sale Process to be progressed.
• Presidential elections took place in the Republic of Congo on 15 March 2026 and President Sassou
Nguesso was re-elected with over 94% of votes. In the subsequent Government reshuffle the
Minister of Mines, Pierre Oba, was replaced by Mr Fiacre Opo, previously Director General of Mines.
A new Mining Law was signed by the President on 18 April 2026 and promulgated in the Journal
Officiel as Law No. 01-2026. The Mining Convention was ratified by Parliament and signed by the
President and contains a stabilisation provision, under which rights under the Convention may not
be adversely affected by laws introduced after its signature. The Company is engaging with the RoC
Government on the practical application of the Convention within the new framework.
• The Government confirmed that the 10% shareholding in Dougou Potash Mining S.A. and Kola
Potash Mining S.A. will be held by the Ministry of Finance, and the legal process has been initiated
in the country.
• On 25 March 2026 the Company released its financial results and annual report for the year ended
31 December 2025.
• Kore Potash Limited was deregistered as an Australian company with effect from 28 June 2026.
• The Company held its AGM on 30 June 2026, at which all resolutions were duly passed.
• Cash and cash equivalents held at 30 June 2026 were USD7,543,612 (31 Dec 2025: USD10,555,176).
• The exploration and evaluation assets at 30 June 2026 were USD194,186,831, a decrease of
USD4,605,582 from USD198,792,413 at 31 December 2025. During the Period the Company
capitalised USD1,215,828 in exploration and evaluation expenditure and the carrying amount
decreased by USD5,821,410 on translation, because the USD strengthened against the currency of
the RoC.
• There were no mining production or construction activities during the Period.
Salient financials required to be disclosed under the JSE Listings Requirements:
Six months ended Six months ended
30 June 2026 30 June 2025 Change
Interest income (USD) 52,448 68,527 (16,079)
Loss for the Period (USD) (753,386) (435,428) (317,958)
Headline loss per share (USD cents) (0.01) (0.01) 0.00
Basic loss per share (USD cents) (0.01) (0.01) 0.00
Diluted loss per share (USD cents) (0.01) (0.01) 0.00
Short-form announcement
This short-form announcement is the responsibility of the board of directors of Kore Potash and is a
summarised version of the Group’s full announcement and financial report and as such, it does not
contain full or complete details pertaining to the Group’s half-year results for the Period ended
30 June 2026.
Any investment decision should be made after taking into consideration the full announcement and
the financial report for the half-year ended 30 June 2026. The full announcement and the financial
report for the half-year ended 30 June 2026 is available on the JSE’s website at:
https://senspdf.jse.co.za/documents/2026/jse/isse/kp2e/KP2HY26.pdf and on the Group’s website at
https://korepotash.com/investors/results-and-reports/ .
The full announcement and financial report for the half-year ended 30 June 2026 can be requested via
direct message under the contact section on the company website at
https://korepotash.com/contact/offices/.
END
For further information, please visit www.korepotash.com or contact:
Kore Potash Tel: +44 (0) 203 733 2169
André Baya, CEO
Andrey Maruta, CFO
Tavistock Communications Tel: +44 (0) 20 7920 3150
Nick Elwes
Emily Moss
SP Angel Corporate Finance – Nomad and Joint Broker Tel: +44 (0) 20 7470 0470
Ewan Leggat
Charlie Bouverat
Jen Clarke
Shore Capital – Joint Broker Tel: +44 (0) 20 7408 4050
Toby Gibbs
James Thomas
Questco Corporate Advisory – JSE Sponsor Tel: +27 (78) 286 9556
Doné Hattingh
Date: 11/09/2026 08:00:00
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