KORE POTASH PLC

• ⚠

  Material uncertainty over going concern

  We draw attention to the Going concern section of Note 1(b) to the financial statements, which explains that the ability of the Group and Company to continue as a going concern is dependent on finalising the SUMMIT consortium funding proposal within the timeframes planned and on the ability of the Group and Company to raise the necessary funds to service its ongoing working capital requirements as established in the cash flow forecast. At the date of signing these financial statements, there is no guarantee that the funding proposal will be received, and within the necessary timeframe, nor that the funding to meet the Group's and Company's obligations will be secured. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the ability of the Group and Company to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to the Going concern section of Note 1(b) to the financial statements, which explains that the ability of the Group and Company to continue as a going concern is dependent on finalising the SUMMIT consortium funding proposal within the timeframes planned and on the ability of the Group and Company to raise the necessary funds to service its ongoing working capital requirements as established in the cash flow forecast. At the date of signing these financial statements, there is no guarantee that the funding proposal will be received, and within the necessary timeframe, nor that the funding to meet the Group's and Company's obligations will be secured. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the ability of the Group and Company to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Group structure

1. KORE POTASH PLC · parent
   1. Kore Potash Limited 100% · Australia · administration and operational support
   2. Sintoukola Potash S.A. 97% · RoC · exploration for potash minerals
   3. Kore Potash Mining S.A. 100% · RoC · exploration for potash minerals
   4. Dugou Potash Mining S.A. 100% · RoC · exploration for potash minerals

Significant events

• “David Hathorn following the resignation of the CEO on 31 October 2023 also assumed the role of interim CEO subsequently Andre Baya was appointed as Chief Executive Officer on 4 April 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

8

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -15.4%

  £1,173,949 → £992,825

• Net assets

  -4.4%

  £129,791,919 → £124,020,788

• Employees

  0%

  21 → 21

• Profit before tax

  -5.1%

  -£808,788 → -£849,915

• Wages

  +67.1%

  £41,236 → £68,893

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers