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Kore Potash PLC
(LSE:KP2)
Kore Potash PLC (KP2) vs. iShares MSCI United Kingdom ETF (EWC)
Kore Potash PLC Business Overview & Revenue Model
Kore Potash PLC Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 148.05M | 268.45M | 248.44M | 213.76M |
| Gross Profit | 0.00 | 0.00 | 148.05M | 139.29M | 127.08M | 115.83M |
| EBITDA | ― | 0.00 | 0.00 | 0.00 | -1.78M | -3.18M |
| Net Income | -1.05K | -1.15M | -1.09M | -1.51M | -1.94M | -3.14M |
Balance Sheet | ||||||
| Total Assets | 200.21M | 171.22M | 178.53M | 168.40M | 178.49M | 178.45M |
| Cash, Cash Equivalents and Short-Term Investments | 3.50M | 1.34M | 1.58M | 5.05M | 11.09M | 5.55M |
| Total Debt | 0.00 | 0.00 | 449.58M | 428.67M | 402.70M | 303.69M |
| Total Liabilities | 2.74M | 3.92M | 3.44M | 749.50K | 1.07M | 786.05K |
| Stockholders Equity | 198.04M | 167.87M | 175.65M | 168.21M | 177.98M | 178.22M |
Cash Flow | ||||||
| Free Cash Flow | -10.05K | -3.03M | -7.04M | 13.05M | -18.93M | 24.64M |
| Operating Cash Flow | -1.27K | -622.31K | -1.26M | 16.36M | -14.76M | 26.47M |
| Investing Cash Flow | -8.68K | -2.38M | -5.73M | -62.55M | -13.42M | -11.60M |
| Financing Cash Flow | 12.36K | 2.81M | 3.50M | 550.00 | 104.05M | 7.23M |
Kore Potash PLC Peers Comparison
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% | |
56 Neutral | £186.59M | -1.06 | -4.54% | 7.30% | 6.65% | -159.09% | |
54 Neutral | £138.52M | -19.26 | -17.14% | ― | ― | 54.72% | |
50 Neutral | £124.85M | -12.99 | -9.89% | ― | ― | ― | |
44 Neutral | £181.16M | -914.67 | >-0.01% | ― | ― | ― | |
41 Neutral | £67.23M | -42.09 | -21.41% | ― | ― | -133.33% | |
41 Neutral | £4.08M | -2,196.99 | -0.07% | ― | ― | ― |
Kore Potash PLC Corporate Events
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 by net transfers between CDIs on the ASX and ordinary shares traded on AIM and the JSE.
The corresponding number of ordinary fully paid shares not represented by CDIs increased by the same 1,653,286 securities to 4,594,626,889, confirming this is an internal capital structure rebalancing rather than a new issue or cancellation. The volume and terms of the company’s outstanding options remained unchanged, suggesting no immediate dilutionary impact for existing shareholders from option exercises during the month.
The most recent analyst rating on (GB:KP2) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.
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 and ordinary shares traded on AIM and the JSE, leaving the company’s overall capital structure effectively unchanged.
The total number of ordinary fully paid shares not represented by ASX-quoted CDIs rose to 4,594,626,889, mirroring the 1,653,286 transfer out of CDIs into ordinary shares. Outstanding options across three ASX-quoted series remained flat during the month, indicating that the movements were purely administrative rather than related to new capital raising or option exercises.
The most recent analyst rating on (GB:KP2) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.
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 funded from existing cash and aligns with the company’s strategy to consolidate ownership of its core Congolese assets.
The company has also secured a conditional right to acquire MGM’s remaining 2.54% interest in SPSA if a full takeover of Kore completes within 12 months, with payment to be made in new Kore shares sized to give MGM 2.54% of Kore on a fully diluted basis. If exercised, this would give Kore 100% of SPSA before the Republic of Congo’s 10% free-carried interest, simplifying the ownership structure ahead of any potential corporate transaction and clarifying future government participation in the Kola and DX projects.
Any issuance of consideration shares for the remaining SPSA stake would use Kore’s existing ASX placement capacity, or otherwise require shareholder approval. The move comes amid an ongoing formal sale process, and the streamlined project ownership could enhance Kore’s attractiveness to potential bidders and provide greater certainty to stakeholders regarding the asset’s control and governance.
The most recent analyst rating on (GB:KP2) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.
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 suspended its participation for internal reasons, but the other bidder remains active and is continuing detailed due diligence on the company.
The exit of one suitor narrows the competitive tension around the process, but the continued engagement of the remaining party keeps the prospect of a full takeover of Kore Potash on the table. Investors and other stakeholders will now focus on the progress and outcome of this sole bidder’s review, as it could reshape ownership of the Kola and Dougou Extension projects and influence the company’s future development path in the potash sector.
The most recent analyst rating on (GB:KP2) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.
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 transfers between ASX-quoted CDIs and ordinary shares traded on AIM and the JSE, with a corresponding increase in directly held ordinary shares to 4,592,973,603, indicating an internal rebalancing of how the company’s equity is held across its dual listings rather than an issuance or cancellation of securities, and implying no change to overall capital but a shift in where liquidity may reside for investors.
The most recent analyst rating on (GB:KP2) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.
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 start of marine drilling and bathymetric studies for the planned jetty following government approvals. The company temporarily slowed the update of its Environmental and Social Impact Assessment while potential design changes are considered, but expects ESIA activities to resume in April 2026, and continues to engage with the Congolese government on finalising the state’s 10% free-carry stake. On the corporate side, Kore is advancing a Formal Sale Process after receiving approaches from two potential acquirers, while simultaneously working with OWI-RAMS and prospective development finance institutions on a comprehensive financing package for Kola that hinges on appointing an experienced contract operator and strategic potash partner. The company raised about US$12.2 million in November 2025, ended the quarter with roughly US$10.5 million in cash, and invested nearly US$3 million in project studies as it prioritises securing Kola financing and construction readiness, with the DX project remaining under strategic review and no mining or construction yet underway.
The most recent analyst rating on (GB:KP2) stock is a Sell with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.
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 right to close the offer early or extend it further. The primary purpose of the Cleansing Prospectus is to remove trading restrictions on securities previously issued without full disclosure, a step that is expected to enhance liquidity and flexibility in the company’s capital management as it continues to develop its Kola and DX potash projects in the Republic of Congo.
The most recent analyst rating on (GB:KP2) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.
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 underlying issued capital, with ordinary shares and all existing option classes showing zero net movement over the month, signalling a stable capital structure with no new equity issuance or conversions during the period.
The most recent analyst rating on (GB:KP2) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Kore Potash PLC stock, see the GB:KP2 Stock Forecast page.