Kore Potash lists on the JSE

Johannesburg, 29 March 2018: Today Kore Potash plc (JSE: KORE) attained a secondary inward listing on the Main Board of the JSE. The company listed in the “General Mining” sector and is the 6th international company to make use of the JSE’s fast-track listing process. Donna Nemer, Director: Capital Markets at the JSE, welcomed Kore Potash to the exchange: “The JSE started out funding the development of mines near Johannesburg. Today we are proud to be able to connect investors with global miners, like Kore Potash, who seek to raise capital to develop assets on the African continent.” Kore Potash is an advanced stage mineral exploration and development company whose primary asset is an equity interest in the Sintoukola Potash Project located close to the coast in the Republic of Congo. The company has its primary listing on the Australian Stock Exchange (ASX) and today also listed on the AIM market of the London Stock Exchange. Inward listings allow foreign companies listing on the JSE to be classified as domestic assets, enabling them to attract increased investment from South African investors. David Hathron, Chairman of Kore Potash, said the JSE was the ideal market to support the next phase of the company’s growth: “As Kore Potash nears the development stage, we will benefit from the JSE’s strong base of South African investors, many of whom have a strong understanding of large-scale African mining projects. As the only potash producer listed on the JSE, we look forward to keeping our new South African shareholders updated on our progress as we move towards completion of the Definitive Feasibility Study on Sintoukola in the third quarter of this year.” Kore Potash made use of the JSE’s fast-track listing process which greatly reduces the time and costs associated with listing on the JSE for companies which have been listed on the ASX, the London Stock Exchange (LSE), the New York Stock Exchange and the Toronto Stock Exchange for a period of at least 18 months. As these companies meet all of the listing requirements of these exchanges, the fast track listing process eliminates the need to produce a pre-listing statement and companies are only required to release a pre-listing announcement. The listing brings the total number of mining companies on the JSE to 45. The sector has a total market capitalisation of R2.3 trillion and contributes 16% to the JSE’s overall market capitalisation. Nemer says the important role the mining sector continues to play in the South African economy also contributes to making the JSE an attractive listing destination for miners. “South Africa has a strong and established community of analysts that truly understands the technical and business aspects of the mining sector across all of Africa, as well as the nature of its capital needs.” ABOUT THE JSE The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 130 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE) and holds the chairmanship of the Association of Futures Markets (AFM). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management. www.jse.co.za JSE contact: Pheliswa Mayekiso Media and Internal Communications Manager Tel: +27 011 520 7495 Email: PheliswaM@jse.co.za H+K Strategies South Africa: Thabiso Senatla Tel: +27 11 463 2198 Email: thabiso.senatla@hkstrategies.co.za

Comments

Post a Comment

Popular posts from this blog

Epiroc and Elf Drilling – keeping the finger on the mining pulse

Image
Epiroc has once again rocked the local mining space with a landmark sale of the first BenchREMOTE in South Africa to key customer, Elf Drilling. The innovative BenchREMOTE is an advanced monitoring system, which can be linked to up to three SmartROCs and is ideal for removing the operator from the danger area, taking him away from the noise and dust and drilling in hazardous areas near the high wall, thereby contributing to elevated safety levels. Elf Drilling, since its inception three decades ago, has been a frontrunner in drilling, sampling and service for the Northern Cape mining industry. Operating as a complementary team, Faghmi Cader, Eduard and Lizelle Mostert are leading Elf Drilling into the new age of automation drilling. Consisting of a regional office in Kathu, a head office in Kimberly and a workshop in Kuruman and supported by a team of 145 employees, the company boasts extensive experience across South Africa, as well as in Namibia and Angola. Elf Drilling is also a m
Read more

Reconditioning of components with Thermal Spray Coatings

Image
The application of Thermal Spray coatings by South Africa’s leading surface coating specialists, Thermaspray, can lead to an enhancement in performance and an extension of service life of expensive engineering parts and industrial components, leading to substantial reductions in downtime and production costs. Engineering components and parts in production processes are subject to degradation through wear, corrosion, oxidation and cavitation. Thermaspray, Managing Director, Dr. Jan Lourens, points out that as all these degradation processes are active on the surface of components, a suitably selected and correctly applied surface coating like Thermal Spray can effectively re-condition production equipment to ‘as new’. “In fact”, adds Dr. Lourens, “very often, through degradation analyses and the selection of a superior coating, a thermal spray coating makes it possible to provide virtually as good as new a component. Most importantly for the end user, this means substantial cost sav
Read more

Epiroc anchors down on safety and productivity with new Cabletec SL

Image
Epiroc understands that safety and productivity are fundamental to a mine’s sustainable future and this was the inspiration behind the design and development of the latest ground-breaking fully mechanised Cabletec SL. Mines are increasingly recognising the invaluable role of automation and digitalisation in driving down input costs and driving up output, efficiencies and productivity while at the same time enhancing the safety of mine workers. Featuring advanced automation technology, this fully mechanised and versatile cable bolting machine eliminates the need for perilous and time consuming hand-held drilling and manual installation of mechanical anchors by performing these processes remotely. The Cabletec SL also reduces the number of operators required to install mechanical anchors to a maximum of two people who are able to operate the machine safely from a canopy or via blue tooth remote control technology. Remote functions include changing the drill steel and inserting the
Read more