UK's Kore Potash plunges after delay in EPC agreement with PowerChina

Kore Potash

24/06/2024 10:32

** Shares of Kore Potash  KP2.L  slip 28% to 1.15 pence 
    ** The potash development co flags delay in finalising
engineering, procurement and construction (EPC) agreement with
PowerChina for Kola project in Republic of Congo
    ** Says signing was originally scheduled for Q2, but as
important issues were raised recently around completion and
performance guarantee tests, next round of talks with PowerChina
slated for early July
    ** Adds, it expects to receive a draft operating proposal
from PowerChina in July
    ** Kola is co's largest project 
    ** KP2 stock up ~167% YTD, as of last close 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))