Kore Potash (LON:KP2) Trading Up 0.7% - Still a Buy?

Key Points

• Shares rose 0.7% to GBX 3.02 on Thursday (intraday high GBX 3.20) with ~1.71 million shares traded, about 27% above the average daily volume.
• Kore Potash is developing the Sintoukola potash basin in the Republic of Congo, focusing on the Kola and DX projects, with the DX project targeted to generate cash quickly and produce 400,000 tonnes per annum of Muriate of Potash.
• The company has a market cap of £157.87 million, a negative P/E (-152.50) and a beta of 1.31, while its 50-day and 200-day simple moving averages are GBX 3.21 and GBX 3.14 respectively.

Kore Potash plc (LON:KP2 - ) rose 0.7% during trading on Thursday . The stock traded as high as GBX 3.20 and last traded at GBX 3.02. Approximately 1,710,793 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 1,351,070 shares. The stock had previously closed at GBX 3.

Kore Potash Trading Up 1.0%

The stock has a market cap of £157.87 million, a P/E ratio of -152.50 and a beta of 1.31. The firm's 50-day simple moving average is GBX 3.21 and its 200 day simple moving average is GBX 3.14.

About Kore Potash

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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