Kore Potash (LON:KP2) Shares Down 6.5% - Here's What Happened

Key Points

• Kore Potash shares fell 6.5% on Friday to GBX 3.09 (as low as GBX 3), with about 568,318 shares traded—roughly 50% below its average daily volume.
• Company focus: Kore Potash is developing the Sintoukola potash basin in the Republic of Congo and is aiming to quickly generate cash from the DX project, which targets ~400,000 tonnes per annum of Muriate of Potash.
• Valuation and technical snapshot: Market cap ≈ £159.7M, P/E is negative (-154.25), 50-day and 200-day simple moving averages are GBX 3.34 and GBX 3.20, and beta is 1.34.

Kore Potash plc (LON:KP2 - ) dropped 6.5% during trading on Friday . The stock traded as low as GBX 3 and last traded at GBX 3.09. Approximately 568,318 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 1,129,485 shares. The stock had previously closed at GBX 3.30.

Kore Potash Price Performance

The stock's fifty day simple moving average is GBX 3.34 and its 200-day simple moving average is GBX 3.20. The stock has a market cap of £159.68 million, a P/E ratio of -154.25 and a beta of 1.34.

Kore Potash Company Profile

Kore Potash Plc (AIM: KP2, ASX: KP2, JSE: KP2) is an advanced stage mineral exploration and development company that is incorporated in England and Wales and listed on AIM, a market operated by the London Stock Exchange, the Australian Securities Exchange (ASX) and the JSE Limited (JSE) in South Africa. Through the development of the Sintoukola potash basin in the Republic of Congo (RoC), Kore Potash is working to bring a number of globally significant potash deposits into production. Focus is on two high-grade projects: Kola and DX. The Company aims to move quickly to cash generation from the DX project, which has a modest capital cost and planned production of 400,000 tonnes per annum of Muriate of Potash and its adjacent potash projects provide the potential for long-term potash production district from the area.

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