LONDON - Kore Potash PLC, a potash development company, has responded to an inquiry from the Australian Securities Exchange (ASX) concerning its recent contract announcement with PowerChina International Group Limited for the Kola Project. The response follows an ASX Aware Letter received on Monday, regarding the Engineering, Procurement, and Construction (EPC) contract for the project situated in the Republic of Congo.
The company, which holds a 97% stake in the Kola and DX Potash Projects in the Sintoukola Basin, has made its correspondence with the ASX available to the public. This disclosure is in line with the Market Abuse Regulation (MAR), which mandates that any information deemed as inside information be released to the public to prevent market abuse.
The details of the ASX Aware Letter and Kore Potash's response have been published and are accessible through the provided link. This action ensures transparency and adherence to regulatory requirements, as stipulated under the Market Abuse Regulations that have been incorporated into UK law.
Kore Potash's engagement with PowerChina International Group Limited represents a significant step in the development of the Kola Project. The full implications of the contract and its impact on the company's operations and market position are yet to be disclosed.
The announcement of the response to the ASX was approved by the company's board and serves as an affirmation of Kore Potash's commitment to regulatory compliance and shareholder communication. The company has directed interested parties for further information to its website and provided contact details for its CEO and CFO.
This news report is based on a press release statement from Kore Potash PLC and aims to provide a factual summary of the company's recent regulatory communication.
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