Kore Potash (LON:KP2) Trading 3.1% Higher – Still a Buy?

Kore Potash plc (LON:KP2)’s stock price traded up 3.1% during trading on Tuesday . The stock traded as high as GBX 3.30 and last traded at GBX 3.30. 1,599,339 shares were traded during mid-day trading, an increase of 49% from the average daily volume of 1,075,390 shares. The stock had previously closed at GBX 3.20.

Kore Potash Price Performance

The company has a market capitalization of £169.77 million, a price-to-earnings ratio of -164.00 and a beta of 1.30. The firm’s fifty day moving average price is GBX 3.04 and its 200-day moving average price is GBX 3.17.

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.