- Kore Potash’s (KP2) shares have been frozen in relation to an upcoming capital raise
- The company will remain in the halt until the earlier of August 28 or when an announcement is released to the market
- In its June quarterly report, Kore Potash announced that it had burnt US$788,000 (around A$1.09 million) with the majority going towards staff, administration, and corporate costs
- The company ended the quarter with US$1.841 million (around A$2.556 million), representing just over half a quarter of funding left if spending levels stayed the same
- Shares in Kore Potash last traded for 1.6 cents each on August 24
Kore Potash’s (KP2) shares have been frozen in relation to an upcoming capital raise.
The company will remain in the halt until August 28 or when an announcement is released to the market.
At this point in time, Kore hasn’t how much money will be raised or what the funds will go towards.
In its June quarterly report, Kore Potash announced it had burnt US$788,000 (around A$1.09 million) with the majority going towards staff costs and administration and corporate costs.
As of June 30, it had a cash balance of US$1.841 million (around A$2.556 million), representing just over half a quarter of available funding left if spending levels stayed the same.
Kore Potash last entered a trading halt in December 2019 regarding an announcement dealing with queries from the ASX.
In mid-December, the company provided a development update regarding its potash projects.
However, on December 30, the announcement was withdrawn due to metrics not meeting required listing rules.
Shares in Kore Potash last traded for 1.6 cents each on August 24.