Kore Potash (LON:KP2) Trading 7.1% Higher - Should You Buy?

Key Points

• Shares jumped ~7.1% intraday to GBX 3 on Tuesday with ~1.47 million shares traded, about 9% above average, after a prior close of GBX 2.80.
• Kore Potash is an advanced-stage potash developer in the Republic of Congo focused on the Kola and DX projects, with DX targeting modest capex and planned production of ~400,000 tonnes per annum of Muriate of Potash to drive near-term cash generation.
• The stock has a market capitalization of £165.42 million, a negative P/E (-106.53) and a beta of 1.34, trading near its 50- and 200-day simple moving averages (GBX 3.27 and GBX 3.21), reflecting mixed technicals and negative earnings.

Kore Potash plc (LON:KP2 - ) shares rose 7.1% during trading on Tuesday . The stock traded as high as GBX 3.19 and last traded at GBX 3. Approximately 1,473,638 shares were traded during trading, an increase of 9% from the average daily volume of 1,355,396 shares. The stock had previously closed at GBX 2.80.

Kore Potash Trading Up 14.1%

The firm's 50 day simple moving average is GBX 3.27 and its 200-day simple moving average is GBX 3.21. The stock has a market capitalization of £165.42 million, a price-to-earnings ratio of -106.53 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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