Kore Potash PLC (AIM:KP2, ASX:KP2, JSE:KP2) shares rose 11% to 3.45p after the company confirmed it has begun a formal sale process while continuing to explore funding options for its flagship Kola potash project in the Republic of Congo.
The London, Sydney and Johannesburg-listed miner said it has received early approaches from two potential buyers, each considering an acquisition of the entire company.
Both parties will take part in the formal sale process, which allows Kore’s board to engage confidentially with interested bidders while assessing the best route to maximise value for shareholders.
Kore has appointed SP Angel Corporate Finance as its sole financial adviser and Rule 3 adviser to manage the process. The board emphasised there is no certainty that an offer will be made or that any transaction will proceed.
At the same time, Kore is seeking fresh funding to meet near-term liquidity needs and to advance the Kola project if a sale does not materialise.
The company had previously said it would need additional financing by November 2025. Discussions are continuing with potential debt and equity providers, alongside the ongoing sale review.
Chief executive Andre Baya said securing a strategic partner or operator with experience in potash mining remains a top priority. The Kola project, one of the largest undeveloped potash deposits globally, is central to Kore’s growth strategy.
The company cautioned investors that any resulting transaction could materially affect its share price and urged shareholders to exercise care when trading its stock.