This below quote and screenshot really says a lot about what KP2...

This below quote and screenshot really says a lot about what KP2 has achieved. IMO, KP2 remains significantly undervalued, but won't be that way for long. The announcements we are all waiting for could drop at any moment. Strong financial position also, with almost USD 8 million in cash at hand.

From the announcement:

"Kola Potash Project
• The Company signed a non-binding MoU with Summit, on behalf of a consortium of investors and engineering firms on 6
April 2021, to arrange the total financing required for the construction of Kola in the presence of the Minister of Mines of the
RoC and his key staff in Brazzaville.
• The Summit Consortium includes:
• BRP Global, headquartered in Abu Dhabi, who will provide royalty financing in conjunction with product offtake.
• SEPCO, an international engineering and construction group headquartered in Jinan, China and with offices in Dubai
which is a wholly owned subsidiary of Power Construction Corporation of China (POWER CHINA). SEPCO will be the
EPC contractor for Kola within the Summit Consortium. SEPCO has significant construction experience globally across
a range of industries, including power, oil and gas chemical, energy-reduction and environmental protection and
infrastructure projects. SEPCO has completed major construction projects in 25 countries, including 44 EPC contracts
in 11 countries with 7 of these in Africa, in addition to its construction capability, SEPCO will also assist in arranging
the debt financing; and
• China ENFI Engineering Corporation, subcontracted by SEPCO and headquartered in Beijing, is a significant
engineering group with specific mining, processing, and potash experience. ENFI is a mining technology leader in
China and has provided technical services for the design and construction of more than 400 mining operations around
the world. ENFI’s potash specific experience includes design and construction of an underground potash mine in
southeast Asia.
• During the period the Summit Consortium completed the Optimisation Study with the successful outcomes:
o Capital cost reduced by US$520 million to US$1.83 billion on an EPC basis compared to the DFS capital cost of
US$2.35 billion on an equivalent EPC basis.
o Construction period reduced to 40 months from the DFS construction period of 46 months.
o Key financial metrics improved on DFS outcomes (at potash pricing averaging US$360/tonne unchanged from the
DFS):
 Kola net present value NPV10 post tax improved to US$1.623 billion
 IRR improved to 20% on ungeared post tax basis
o At a potash price of US$1000/t MoP CFR Brazil (less than current potash price of approximately US$1100/t MoP CFR
Brazil) the Kola financial metrics improve to:
 NPV10 post tax US$9.354 billion
 IRR of 49% on ungeared post tax basis
o Designed with a nameplate production capacity of 2.2 Mtpa of MoP.
o MoP production scheduled over an initial 31 year project life.
o Designed as a conventional mechanised underground potash mine with shallow shaft access. Ore from underground
is transported to the process plant via an overland conveyor approximately 25 km long. After processing, the MoP
product is conveyor transported 11 km to the marine export facility. MoP is conveyed from the storage area onto barges
via the dedicated barge loading jetty and then trans-shipped into ocean going vessels for export.
• Kore Potash signed a HoA for the construction in the presence of the Minister of State and Minister of Mining Industry and
Geology of the RoC, Mr Pierre Oba.
The HoA confirms the timeline for SEPCO to complete their discussions with Kore Potash ahead of presenting the Company an
EPC contract proposal for Kola. It also provides additional clarity on matters that SEPCO are required to finalise in advance of
presenting Kore with the construction contract proposal.
The HoA provides for:
o Kola to be designed and constructed as a conventional underground potash mine and processing plant producing up
to 2.2 Mtpa of granular MoP over an initial 31 year life.
o The granular MoP produced will be at a minimum quality of 95.3% KCI in line with international standards.
o The capital cost to construct will be US$1.83 billion and the construction period will be 40 months.
o During the preconstruction engineering design phase, the HoA provides SEPCO with an opportunity to adjust the costs
related to the underground mine portion of the works. SEPCO’s current capital cost is based in part upon information
collected during the DFS Study phase, some of which SEPCO continues to review. Should the final agreed quantities
of materials and labour or the underground construction period differ materially from the baseline, SEPCO will be able
to adjust proportionately. The underground portion of the works (excluding equipment and infrastructure) is currently
estimated as US$164 million, which represents 9% of the total capital cost."