Kore Potash (LON:KP2) Reaches New 1-Year High – Still a Buy?

Kore Potash plc (LON:KP2) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as GBX 3.90 and last traded at GBX 3.80, with a volume of 2006298 shares trading hands. The stock had previously closed at GBX 3.70.

Kore Potash Price Performance

The business has a 50 day simple moving average of GBX 3.35 and a 200 day simple moving average of GBX 3.19. The company has a market cap of £196.69 million, a price-to-earnings ratio of -190.00 and a beta of 1.30.

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.