Kore Potash PLC (GB:KP2)
LSE:KP2
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Kore Potash PLC
(LSE:KP2)
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Select Model
Rating:43Neutral
Price Target:
3.00 p
▼(-4.76% Downside)
Action:ReiteratedDate:03/26/26
The score is held down primarily by weak financial performance (persistent losses, volatile/zero recent revenue, and negative recent cash flow). Technicals are mixed with mild near-term weakness but not deeply oversold conditions. Valuation provides little support given the negative P/E and no dividend yield data.
Positive Factors
Improved Solvency
The absence of reported debt in the most recent years combined with a sizable equity base materially reduces solvency risk and improves financing optionality. This structural balance-sheet improvement gives management more time to secure project financing without imminent creditor pressure.
Negative Factors
Persistent Losses
Ongoing operating losses reflect the company’s inability to reach profitable production or meaningful commercial sales. Continued deficits erode reserves, complicate capital raising and increase reliance on external financing, a structural constraint until project cash flows materialize.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Solvency
The absence of reported debt in the most recent years combined with a sizable equity base materially reduces solvency risk and improves financing optionality. This structural balance-sheet improvement gives management more time to secure project financing without imminent creditor pressure.
Read all positive factors
Kore Potash PLC (KP2) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£165.63M
Dividend YieldN/A
Average Volume (3M)697.47K
Price to Earnings (P/E)―
Beta (1Y)-0.02
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees21
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.00
Shares Outstanding5,175,938,500
10 Day Avg. Volume331,523
30 Day Avg. Volume697,465
Financial Highlights & Ratios
PEG Ratio0.96
Price to Book (P/B)0.92
Price to Sales (P/S)0.00
P/FCF Ratio-105.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)£116.41M
Kore Potash PLC Business Overview & Revenue Model
Company Description
Kore Potash plc, together with its subsidiaries, engages in the exploration and development of potash minerals in the Republic of Congo. The company focuses on its 97%-owned Sintoukola potash project that comprises the Kola sylvinite and carnallit...
How the Company Makes Money
Kore Potash’s expected business model is to generate revenue from the commercial production and sale of potash (a fertilizer raw material) once its projects are financed, constructed, and brought into operation. In a typical potash developer-to-pr...
Kore Potash PLC Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
55
Neutral
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 148.05M | 268.45M | 248.44M |
| Gross Profit | -482.00 | 0.00 | 148.05M | 139.29M | 127.08M |
| EBITDA | -1.42M | 0.00 | 0.00 | 0.00 | -1.78M |
| Net Income | -1.01M | -1.15M | -1.09M | -1.51M | -1.94M |
Balance Sheet | |||||
| Total Assets | 210.04M | 171.22M | 178.53M | 168.40M | 178.49M |
| Cash, Cash Equivalents and Short-Term Investments | 10.56M | 1.34M | 1.58M | 5.05M | 11.09M |
| Total Debt | 0.00 | 0.00 | 449.58M | 428.67M | 402.70M |
| Total Liabilities | 453.81K | 3.92M | 3.44M | 749.50K | 1.07M |
| Stockholders Equity | 210.15M | 167.87M | 175.65M | 168.21M | 177.98M |
Cash Flow | |||||
| Free Cash Flow | -1.82M | -3.03M | -7.04M | 13.05M | -18.93M |
| Operating Cash Flow | -1.75M | -622.31K | -1.26M | 16.36M | -14.76M |
| Investing Cash Flow | -11.77M | -2.38M | -5.73M | -62.55M | -13.42M |
| Financing Cash Flow | 22.61M | 2.81M | 3.50M | 550.00 | 104.05M |
Kore Potash PLC Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | £125.88M | -12.99 | -9.89% | ― | ― | ― | |
50 Neutral | £176.87M | -0.89 | -4.54% | 7.30% | 6.65% | -159.09% | |
46 Neutral | £116.02M | -19.26 | -17.14% | ― | ― | 54.72% | |
43 Neutral | £165.63M | -191.73 | >-0.01% | ― | ― | ― | |
41 Neutral | £65.19M | -42.09 | -21.41% | ― | ― | -133.33% | |
41 Neutral | £3.12M | -2,196.99 | -0.07% | ― | ― | ― |
* Basic Materials Sector Average
GB:KP2
Kore Potash PLC
3.20
1.35
72.97%
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Kore Potash PLC Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Kore Potash Advances Kola Project Financing but Flags Future Funding Needs
Positive
Mar 25, 2026
Kore Potash reported audited results for 2025, highlighting substantial technical and financing progress at its Kola Project, including an Optimised Definitive Feasibility Study based on proved and probable reserves plus limited inferred resources...
Business Operations and Strategy
Kore Potash Reports February CDI Rebalancing Across Dual Listings
Neutral
Mar 5, 2026
Kore Potash has reported a small net decrease in CHESS Depositary Interests over its ordinary shares on the ASX for February 2026. The number of quoted CDIs fell from 582,964,712 at the end of January to 581,311,426 at the end of February, driven ...
Other
Kore Potash Reports Minor February Shift in ASX CDI Holdings
Neutral
Mar 5, 2026
Kore Potash reported a small net decrease in its CHESS Depositary Interests quoted on the ASX in February, with the balance falling to 581,311,426 from 582,964,712. The change reflects net transfers of 1,653,286 securities between ASX-quoted CDIs ...
Business Operations and StrategyM&A Transactions
Kore Potash moves to consolidate ownership of Kola potash asset
Positive
Mar 2, 2026
Kore Potash has agreed to purchase a 0.46% stake in Sintoukola Potash SA from minority shareholder Etablissements MGM for US$1 million in cash, increasing its indirect ownership of the Kola Potash Project and Dougou Extension Project. The deal is ...
Business Operations and StrategyM&A Transactions
Kore Potash Sale Process Narrows to Single Active Bidder
Neutral
Feb 27, 2026
Kore Potash has provided an update on its ongoing formal sale process, launched in November 2025 after receiving approaches from two potential buyers for all of its issued and to-be-issued share capital. One of these interested parties has now sus...
Business Operations and StrategyDelistings and Listing Changes
Kore Potash Reports January CDI Rebalancing Across Dual Listings
Neutral
Feb 6, 2026
Kore Potash reported that the number of CHESS Depositary Interests over its ordinary shares quoted on the ASX fell to 582,964,712 at 31 January 2026 from 589,194,233 a month earlier, a net decrease of 6,229,521 CDIs. The change stems from transfer...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Kore Potash Advances Kola Early Works and Financing Amid Formal Sale Process
Positive
Jan 30, 2026
Kore Potash reported progress on early works at its Kola Potash Project in the Republic of Congo, including successful beneficiation tests in China, completion of engineering, geophysical and geotechnical surveys around the mine shafts, and the st...
Business Operations and StrategyRegulatory Filings and Compliance
Kore Potash Extends Cleansing Prospectus Offer Period to 31 May 2026
Positive
Jan 29, 2026
Kore Potash has extended the closing date of its Cleansing Prospectus offer, under which certain investors may apply for up to 7,000 CHESS Depositary Interests (CDIs) at AUD0.058 each, to 5:00pm Sydney time on 31 May 2026, while retaining the righ...
Other
Kore Potash Reports No Changes in CDI or Share Capital for December
Neutral
Jan 6, 2026
Kore Potash has reported that the number of CHESS Depositary Interests over its ordinary shares quoted on the ASX remained unchanged in December 2025, holding steady at 589,194,233 CDIs. The company also confirmed there were no changes in its unde...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.