Sale and Purchase Agreement for Satimola Limited signedKPC...

Sale and Purchase Agreement for Satimola Limited signed
KPC signed the Sale and Purchase Agreement to acquire 100% shareholding in Satimola Limited, which holds via its wholly owned subsidiary Satbor LLP the Satimola potash deposit in the Republic of Kazakhstan. The purchase price is US$150 million.
Completion of the transaction is subject to:
• Obtaining approval from all relevant Government and regulatory authorities; and • Obtaining approval from shareholders of KPC.
KPC will provide a loan of up to US$15 million in instalments, to fund working capital as well as project development expenditure including road construction and other infrastructure work for preparation of future mine development, to ensure availability of financing to the Satimola deposit project during transition.
The Satimola deposit is located within the geological formation known as the Satimola Dome in West Kazakhstan and a JORC compliant report that indicates a significant resource of potash has been obtained.

AND NOW WE WAIT FOR RELISTING