Kore Potash explores acquisition options as share price rises

UK-based Kore Potash, the pre-production fertiliser development company, has been approached by two parties, each of which is evaluating the acquisition of the company, according to Kore’s chief financial officer Audrey Maruta.

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KOLA IS Kore's largest project and is anticipated to be one of the lowest cost Muriate of Potash producers globally once operational. I SUPPLIED

Kore’s share price leapt up by 8.45% to 77 cents on the JSE Tuesday afternoon after the announcement of possible suitors. In June, the Australia, London, JSE and AltX-listed Kore announced that a high priority was to find suitable contract operator solutions and a mining partner with potash mining experience, and discussions were initiated with some potash industry players, Maruta said in an update.

This led to certain of these industry players exploring the opportunity to acquire an equity stake in Kore.