KP2 - Kore Potash

[Miner]

Lol ... Indeed. I see that Kore are not registered to participate however.

Definitely appropriate caution should be applied on this one given their history. I see limited downside at this point in time so happy to sit and watch the paint dry.

@Miner Thanks for posting the links .... This one should be looked at for anyone with a passing interest in their projects.

https://www.asx.com.au/asxpdf/20200626/pdf/44jzq6xy02jnn5.pdf

Their General Meeting resolutions were all passed:

Cap Raise at ($7million dollars) at .65 pence (GBP) = approx 1.15 cents AUD (Current SP 1.4 cents so ok)

All the Directors have taken Shares in lieu of Wages (tick)

SOI = 2.4 billion (not great, but market cap only about $25 million so all relative)

The DX project has an estimated 4 year payback period as you say, however, the estimated EBITDA is $120 million US with free cash flow post pay back of $95 million US per year

If the Board can finalise the DFS and "sell" the above figures to a couple of big players, they should be able to get finance without too much trouble based on the future potential profits ....... looks interesting from where I sit ..... Bearing in mind I sit on my head most of the time

Looks like a board position ready for Mr @Birney once the DFS funded

 

[barney]

I assume management releasing good announcements after hours is directed at their OS listings ..... Pity, as it could have generated a bit of interest on the ASX today. Hopefully a bit of delayed reaction might filter in at some point. Part of Ann below. (I hold)

Government approval to drill at DX Project Kore Potash plc, the potash development company with 97%-ownership of the Kola and DX Potash

Projects in the Sintoukola Basin, is pleased to announce that it has received authorisation from the Government of the Republic of the Congo to commence the planned drilling programme for the Definitive Feasibility Study (“DFS”) for the Company’s DX Project (“DX”).

 

[barney]

Failing a catastrophe, it looks a low risk punt if a little patience is employed.

"Patience" being the operative word, lol.

This was 015 when I started typing which was excellent cause I am back in the black at that level. Just had a sticky beak and it got bumped up to 019 with Sellers retreating.

Bearing in mind that large "pin bars" with KP2 have not been very successful in the past, however the fair dinkum Volume spike gives it some interest.

They have their DFS reasonably well advanced I think so maybe the ball has started rolling?

Post Script:- Just checked todays sales and 1 Punter stumped up $70,000 to wipe out the 012-013 level earlier today. The rest of the trades looked like chaser trades pushing the SP higher.

Basically it makes the 013 level look solid at least.

 

[barney]

however the fair dinkum Volume spike gives it some interest.

Post Script:- Just checked todays sales and 1 Punter stumped up $70,000 to wipe out the 012-013 level earlier today. Basically it makes the 013 level look solid at least.

They say where there is smoke there is fire! ?

Given I lost about half a years wages on my other Stocks over the last couple of days, this little battler pulled a rabbit out of what seemed a non-existent hat for the last 2 years and jumped another 70% today. (I almost bought more at 014 just before the spike; bugger)

Anyway, all the red on my account has at least been offset by a little, assuming the spike turns out to be bona fide. We shall see.?

 

[barney]

Given this is behaving friendlier, perhaps a bit closer attention as warranted.

Below excerpt from the Companies recent Announcement on 2nd December.

Given the current out of the blue price action, and the stuff I've Bolded below, I'd say their recent drilling may be showing better than just "good" or "expected" results.

Given it has been touted as "world class" ... if it's even better, how much better could it be?

I don't own a squillion of these but I own enough that another 70% rise like today will have me enjoying better quality bourbon for the next 12 months, therefore I am interested, Lol ... ?


DX Definitive Feasibility Study Phase 1 update

Geo-mechanical testing 19 of the 24 unconfined compressive strength (UCS) tests have been completed on samples of core from holes previously drilled at DX.

The 19 samples provided for UCS testing included 5 from the halite salt back overlying the potash seams, 4 from the top seam sylvinite (TSS), 3 from the halite interbed, 5 from the hanging wall seam sylvinite (HWSS) and 2 from the halite below the HWSS.

It is planned to deliver additional samples representing 3 anhydrite layer samples from the current drilling program and 1 additional TSS and 1 additional sample from the halite below the HWSS from existing samples taken from the previous drilling program.

Preparation of samples for the triaxial compressive strength (TCS) tests have commenced on 22 samples. The DX core samples provided included 1 from the anhydrite layer, 3 from the halite salt back, 6 from the TSSS, 3 from the halite interbed, 6 from HWSSS and 3 from the halite below HWSS.

Creep tests have commenced at the IFG laboratory in Germany, with 6 core samples being tested currently and another 6 planned for testing commencing in late December.


Testing in late December seems to be the operative suggestion ... ie. Results may be close ... and hopefully better than just good if the current price action is accurate.

Of course it could all be total manipulation with a splash of speculation for some "heavy hitter/s" to extract cash from we market minnows, but I'm in early enough that even if I lose my shirt, I will still be able to afford decent undies. Gotta love Specs.

 

[barney]

Testing in late December seems to be the operative suggestion ... ie. Results may be close ... and hopefully better than just good if the current price action is accurate.

My pick in the January comp. Hoping that the recent price movement might have some fundamental basis with the Core tests proving fruitful perhaps..?

 

[barney]

Just mentioned this little Battler in the Potash Thread. Very slow mover just at the moment, but there have been murmurings of movement.

 

[barney]

The recent pump was well orchestrated at the end of each trading session, then sold off the following Open, so if you blinked you missed it.

Current price action looks more "regular". I assume news on their DFS can't be too far away?

 

[barney]

I wasn't on screen to take advantage of the pump earlier this year, so in my usual fashion I accumulated a few more recently

Few rumblings yesterday on the JO Exchange (dropped since) ... and a few bumps today on the ASX

Done this plenty of times before but I get the feeling one day it will jump hard again when least expected.

Holding for the surprise

 

[barney]

I wasn't on screen to take advantage of the pump earlier this year, so in my usual fashion I accumulated a few more recently

I get the feeling one day it will jump hard again when least expected. Holding for the surprise

And people think I'm crazy

It has been murmuring for a while.

Not sure if it will hold today's current gains, but the rise has so far been more "normal" than the random pump back in December.

 

[frugal.rock]

Hope your not going to sit there and watch it drop Barney...
Looks like holding ATM but it only takes one sheep (wolf in sheep's clothing)
Stay on it.

 

[barney]

Hope your not going to sit there and watch it drop Barney...
Looks like holding ATM but it only takes one sheep (wolf in sheep's clothing)
Stay on it.

Yeah all good Rock. I let some go at 030 then at 029. The rise is too exponential to ignore given its past history.

Still hold about a third. How about VML this morning

 

[frugal.rock]

A belated santa rally?

 

[barney]

Yeah all good Rock. I let some go at 030 then at 029.

Ok, Because I am slightly crazy (or possibly incredibly smart )

I added back 1/3 of what I sold a couple of days ago on this little battler, today (have an order in for more lower but that may not get filled)

Why did I buy back in?

Because once I sold, I now have to pay the tax man his cut. (I love the tax man )

So this part of the trade (if it becomes profitable) is to cover the tax-man's incredible input into;

All the risk I take with my own money!

If I sound a little cynical .... maybe I might be just a little lol


Seriously, I think medium/long term, this forgotten wonder could turn from an ugly duckling to something much more attractive.

Short term, I wont be surprised to see the Traders back on the floor sometime soon

The Market Depth is thin given it's time in the wilderness, so the Traders may smell an opportunity? (Recent price action says so)

 

[barney]

Short term, I wont be surprised to see the Traders back on the floor sometime soon

The Market Depth is thin given it's time in the wilderness, so the Traders may smell an opportunity? (Recent price action says so)

As is often the case, once the D/T's find a mark, it will generally get hit at least twice if not multiple times.

KP2 was in the wilderness for so long, it had to be a target at some point, especially given it has Fundamental depth as well.

Getting a little attention again today after the mandatory couple of Inside days.

Not sure how far it might get pushed, but I see no reason why the recent high of 030-031 cant get re-tested.

Will post a couple of extra Charts later depending on how it shapes up.

 

[barney]

I see no reason why the recent high of 030-031 cant get re-tested.

Quicker than expected

The million dollar question now, Will it/Can it jump the creek at 031

Fair bit of recent Volume (Resistance) to contend with around 028-030

 

[barney]

This starting to show some real possibilities. If Volume kicks in at 032 - 034 look out

 

[frugal.rock]

Well I guess they won't get a speeding ticket as the Pratt's are busy fixing up Airtasker listing stuff up....
I keep 'pinging' it for ya Barney...

 

[barney]

Well I guess they won't get a speeding ticket as the Pratt's are busy fixing up Airtasker listing stuff up....
I keep pinging it for ya Barney...

Lol. Thanks M8.

I was bit unlucky the other day. I had another buy-back order for 500K shares sitting 1st in the queue at 021

Partially filled for about 25K shares, so full brokerage for bugger all shares.

That extra 500K shares would have grossed a tidy sum today.

Win some lose some of course.

 

[barney]

Not sure if anyone else was tempted to have a crack at this little battler over the last couple of months, but,

Certainly no complaints from me on how it has panned out so far.

Anyway, the current price action actually looks pretty tidy

The question from here is, has there been a reason for the recent attention (i still suspect DFS news etc)

It could simply drift into a Trading range if no news eventuates

The Chart does indicate some positive accumulation however

Today's VWAP right on the Close at 035 on solid Volume

Definite possibilities for more rises if they get the ball rolling on the DFS