Kore Potash (LON:KP2) Shares Up 1.1% – Should You Buy?

Kore Potash plc (LON:KP2) shares shot up 1.1% during mid-day trading on Thursday . The stock traded as high as GBX 3.60 and last traded at GBX 3.44. 122,418 shares traded hands during trading, a decline of 91% from the average session volume of 1,423,287 shares. The stock had previously closed at GBX 3.40.

Kore Potash Stock Performance

The company has a market capitalization of £177.95 million, a price-to-earnings ratio of -114.60 and a beta of 1.31. The firm has a 50-day simple moving average of GBX 3.21 and a two-hundred day simple moving average of GBX 3.20.

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.