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ReGIonAL RounDuP

Kore to hit the spot with DX PFS

rad Sampson knows Africa well and world-class assets,” Sampson explained given the certificates previously awarded
Bwhen approached two years ago to to Paydirt as his reasoning for taking on for Kola and Dougou required reapproval
drive Kore Potash plc’s projects in the the mantle of Kore’s chief executive. on an annual three yearly basis, while the
Republic of Congo there was little hesita- “The chairman [David Hathorn] is ex- company hopes for future amendments
tion from the mining engineer. Anglo American and the rest of the board to the ESIA for Dougou to include the
Sampson had just completed a binding is high calibre. When they asked me to planned mining and processing of the
agreement to sell DRC copper producer come and look at the assets, I got pretty Dougou Extension (DX) sylvinite deposit.
Tiger Resources Ltd to a Chinese outfit
for $US250 million when the opportunity
to join Kore presented in 2018. Farmers can’t go too long without putting
Taking over from Sean Bennett, who
took the company onto the AIM and JSE potassium into the ground or their [crop]
bourses during his three-year stint as quality and yield will drop. If they skip a season
chief executive, Sampson was imme-
diately enamoured by both country and “ it hurts them the very next season.
projects Kore was involved in.
Although Congo’s mining sector re-
sembles a blank canvas, a potash in- excited about the quality of the assets The good news comes as Kore pre-
dustry did once exist, run by French in- and Congo is not much different from pared to release a PFS on the DX project.
terests. other African countries.” “The only thing that would delay the PFS
That was before a period of commu- In addition to the comfortable work en- release is if we get into any meaty discus-
nist rule which effectively brought an vironment and it appears Kore’s relation- sions with any of our senior shareholders
end to the 500,000 tpa potash business ship with the Government is positive. or directors that want to get into any tech-
hedged towards export markets around Sampson also speaks highly of Con- nical things, but even COVID-19 can’t do
the 1970s. go’s surf conditions anything to slow us down,” Sampson said.
“When the area was stabilised by com- Last month, Congo’s Minister of Tour- Sampson said the DX PFS results were
munists, the French fled and the mine ism and Environment granted 25-year looking good and he expected vast im-
was flooded leaving behind this massive approvals to the ESIAs for both the Dou- provements in estimated capital costs from
zone from Gabon all the way down the gou and Kola mining licences, within $330 million indicated in the scoping study
coastline through Congo to northern An- Kore’s 97%-owned Sintoukola project. to below $300 million in the latest report.
gola, within which Kore has some truly It is a significant milestone for Kore, With the likelihood capital markets will

Page 48 MaY 2020 aUSTRaLIa’S PaYDIRT