Kore Potash AIM:KP2
- Incorporated
- United Kingdom
- Chief executive
- J.M. André Baya
- Employees
- 22
- Reports in
- USD
- Companies House
- 10933682
Development company advancing the Kola and DX potash projects in the Sintoukola basin of the Republic of Congo, among the world's highest-grade potash deposits, with an EPC contract framework agreed with PowerChina. Pre-production; progress depends on securing full project financing.
Read straight from the annual reports
3.8c at close on 5 Oct 2026 · 10 reported years, 2016–2025
| Line | FY201612/16 | FY201712/17 | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net finance cost | |||||||||||
| Profit before tax | |||||||||||
| Tax charge | |||||||||||
| Profit for the year | |||||||||||
| Basic EPS | |||||||||||
| Diluted EPS | |||||||||||
| Dividend per share | — | — | — | — |
USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
10 years, at a glance
C000751-AR-2025-ch
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo.
No current revenue; future revenue dependent on commencement of Muriate of Potash (MoP) production and sale from Kola once construction (subject to Financing Close) is completed
"The Group's current activities do not generate any revenues or positive operating cash flow"
page 28Optimised DFS (Feb 2025) projects average MoP delivered cost to Brazil of USD128/t against modelled CFR Brazil pricing of USD449/t, giving projected average annual EBITDA of ~USD733m and ~74% EBITDA margin over a 23-year LoM
Optimised DFS economics
page 15Fixed-price EPC contract with PowerChina (USD1.929bn) caps construction cost overrun risk, including penalties for delay/non-compliance
EPC contract terms
page 14$284k charge: Net realised and unrealised foreign exchange loss/(gain) in P&L
page 92Board's immediate focus is on Financial Close on the Kola funding package with OWI-RAMS GMBH (c.USD2.2bn) and appointment of a contract operator and strategic partner; 2026 KPI is Financial Close
page 23On 2 March 2026 the Company announced purchase of a 0.46% interest in SPSA share capital for USD1 million, plus a conditional right to acquire the remaining Kola Project interest not owned by the Company
page 125No dividends paid or proposed for FY2025 (2024: nil); Directors do not intend to recommend a final dividend
page 38Unqualified audit opinion from BDO LLP but with a 'material uncertainty related to going concern' paragraph (not a qualification). Directors' cash flow forecast to 31 March 2027 shows the Group needs to raise funds in Q1 2027 and will be cash negative from Feb 2027; funding dependent on Financial Close with OWI-RAMS GMBH (non-binding term sheets for ~USD2.2bn). Key audit matters: going concern and impairment of exploration & evaluation assets. Group materiality USD3.1m (1.5% of total assets); no impairment triggers identified for E&E assets at year end
page 81- Funding risk to going concern - Group has no committed funding beyond Q1 2027 and financing of Kola construction depends on reaching Financial Close on non-binding OWI-RAMS GMBH term sheetsp.29
- Country risk in the RoC - political, economic and regulatory risk in the Republic of Congo largely outside Group controlp.30
- Change in potash commodity prices and market conditionsp.30
- Geological and technical risk to exploration and commercial exploitation successp.31
Read from C000751-AR-2025-ch.
9 annual reports read, FY2017 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (9)
FY2026Next report expected 4 Apr 2027