Kore Potash (KP2): Formal sale process

This situation live

£195m · 3.6p · +16% since the first step

4 Nov 2025 · Launched; two early non-binding approaches received · +9% until the next step The Company will update the market in due course regarding the timetable for the Formal Sale Process.

30 Jan 2026 · Due diligence and site visits under way · −6% until the next step Since then, the FSP has continued, including site visits and the conduct of due diligence.

28 Jul 2026 · Two parties in process after new entrant · +12% until the next step Accordingly, two parties are currently engaged in the FSP.

Sale process / strategic review

Formal sale process

Two parties engaged; no price or offer

Next: outcome of due diligence by the two engaged parties

Every step · 8

4 Nov 2025 Launched; two early non-binding approaches received – The Company will update the market in due course regarding the timetable for the Formal Sale Process. ↗
30 Jan 2026 Due diligence and site visits under way – Since then, the FSP has continued, including site visits and the conduct of due diligence. ↗
27 Feb 2026 One bidder withdrawn; one in due diligence – However, the other party referred to above remains engaged in the FSP and is continuing its due diligence exercise. ↗
2 Mar 2026 One bidder in due diligence; minority clean-up – As previously announced there can be no certainty that any firm offer will be made as a result of the formal sale process announced on 4 November 2025, nor... ↗
25 Mar 2026 One bidder left, in due diligence – However, the other party referred to above remains engaged in the FSP and is continuing its due diligence exercise. ↗
30 Apr 2026 One bidder remains in due diligence – However, the other party referred to above remains engaged in the FSP and is continuing its due diligence exercise. ↗
28 Jul 2026 Two parties in process after new entrant – Accordingly, two parties are currently engaged in the FSP. ↗
11 Sep 2026 Two parties engaged; no price or offer – Two parties were engaged in the Formal Sale Process as at 30 June 2026, and both remain engaged at the date of approval of this half-year report. ↗

What is happening

Kore Potash: Formal sale process – Two parties engaged; no price or offer. ['Two parties engaged; no price or offer']

In short: Kore began a formal sale process on 4 November 2025 after approaches from two parties. One suspended its interest on 27 February 2026. A new party approached on 8 June 2026, so two are again engaged. The half-year report of 11 September 2026 confirms both remain engaged; no price or firm offer is stated. The Dougou Extension project has been reviewed within the process.
Announced: 4 Nov 2025 · Launched; two early non-binding approaches received
Latest: 11 Sep 2026 · Two parties engaged; no price or offer
Bidders: Original party continuing due diligence; new party approached 8 June 2026; both engaged at report approval date
Price: Not stated; no firm offer
Started: Formal Sale Process announced 4 November 2025
Alternative: Kore may continue trading on AIM, ASX and JSE as an independent entity
Government view: Minister of Mines aware of the FSP and expressed continuing support for the Company and Kola
Suspended: One party suspended interest on 27 February 2026 for internal reasons
DX project: DX and Dougou deposit closely reviewed as part of the Formal Sale Process

outcome of due diligence by the two engaged parties.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

Also at Kore Potash 3 open