KP2 Project Funding
So project funding for KP2's Kola project is our next BIG milestone after KP2 recently signed an Engineering, Procurement and Construction (EPC) contract with PowerChina.
IMO, KP2 has already largely come to an agreement about project funding, and there remains only the formalities of receiving the Financing Term Sheet and the signing of the Finance Contract for funding to be officially secured.
I derive my opinion directly from the market announcements released by KP2 (as per below screenshots for example), where KP2 appears to confidently state: "the Summit Consortium includes OWI Global, headquartered in Abu Dhabi, who will provide royalty financing in conjunction with product offtake" and "the consortium has advised that the financing term sheet for the construction cost of Kola will be provided to the Company within three months of the execution of the EPC contract".
IMO, project funding has been all but formally secured for a long time, and IMO the formality of securing the required funding is not at risk.
....but who is OWI Global.? See below for more details.
OWI Global
On speculation, OWI Global appears to be a sovereign wealth fund for the United Arab Emirates (UAE), based in Abu Dhabi.
OWI Global appears to be tasked with diversifying UAE investments away from oil & gas in preparation for a post-oil-world (as per in below images).
OWI Global appears to focus on providing funding within four key areas of interest, with Food Security being the first listed.
As we know, potash fertilizer is a critical mineral in the effort to ensure global food security, and as we know KP2 is building a potash mine which is has one of the shallowest deposits globally, and is also among one of the highest grade undeveloped potash projects globally.
Furthermore, KP2's potash mine is located in the UAE's region, so local investment in local food security would make sense for OWI Global and would also align with OWI Global's stated investment goals.
If i'm on the right track here, then once again, the claim that KP2's project funding is all but formally secured is looking to be pretty strong IMO.
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