Kore Potash (LON:KP2) Shares Down 6.5% – Here’s What Happened

Kore Potash plc (LON:KP2) was down 6.5% during trading on Friday . The stock traded as low as GBX 3 and last traded at GBX 3.09. Approximately 568,318 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 1,129,485 shares. The stock had previously closed at GBX 3.30.

Kore Potash Stock Down 6.5%

The firm’s 50 day simple moving average is GBX 3.34 and its 200 day simple moving average is GBX 3.20. The company has a market cap of £159.68 million, a price-to-earnings ratio of -154.25 and a beta of 1.34.

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.