Kore Potash (LON:KP2) Stock Price Up 14.8% – Time to Buy?

Kore Potash plc (LON:KP2) rose 14.8% during mid-day trading on Wednesday . The company traded as high as GBX 3.50 and last traded at GBX 3.50. Approximately 2,768,178 shares traded hands during trading, an increase of 277% from the average daily volume of 735,214 shares. The stock had previously closed at GBX 3.05.

Kore Potash Stock Up 14.8%

The business’s 50 day moving average is GBX 2.92 and its 200 day moving average is GBX 2.98. The company has a market cap of £181.16 million, a P/E ratio of -116.67 and a beta of 1.31.

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.