The listing is expected to be completed in the first quarter of 2018.
In an operational review covering the final quarter of 2017, the company said the definitive feasibility study for its flagship Kola project in the Republic of Congo is moving along, although it is a bit behind the schedule due to some additional redesign work related to further optimisation of the flotation area of the process plant.
Focus has switched from design engineering to estimating the final construction costs and execution schedule.
“Overall the results of the design phase are highly encouraging in terms of technical viability and overall optimisation, but the construction estimation phase will be key to finalisation of the overall estimate of the capex, opex and construction schedule,” the company said.
Laboratory results confirmed the previously reported1 outstanding intersections in holes EK_53 and EK_54 at Kola, drilled 1.5 and 7 kilometres (km) south-east of the current measured and indicated resource, respectively.
“With extremely high grades of 61.9 and 60.0% KCI over true thicknesses of 2.22 and 3.26 metres respectively, these intersections indicate the potential for significant expansion of the deposit and the presence of areas with exceptionally high-grade sylvinite,” Kore said.
Additionally, the company has received a letter of support from BPIFrance Assurance Export for French credit insurance for the French component of the procurement for the Kola project construction, which is estimated to be in the region of US$500mln to US$700mln.