Kore Potash Jumps 4.5%, Hits ZAC 69 After Deal-Driven Breakout From Channel

Kore Potash PLC (JSE: KP2) up 4.5% to ZAC 69 on strong volume, breaks out of long term downtrend. Follows update on financing agreement with Summit Consortium for Kola potash project, which caused temporary suspension of KP2 shares on ASX. ASX pause was due to pending disclosure of new finance terms, a sign the company is close to finalising project funding.

Rather than negative, the suspension is regulatory compliance and likely material news. Investors are treating it as positive catalyst, evident by the buying on the JSE.

What’s behind the move:

• ASX pause due to pending finance disclosure

• Market optimism on Kola project funding

• Strong buying on JSE after break of ZAC 60

KP2 Technical Picture Looks Bullish

KP2’s technicals have improved. After consolidating in a downtrend since February, price broke above ZAC 60 and retested the neckline of the double top at ZAC 67—now support. Price is above the 50 period EMA (ZAC 52) and sentiment has shifted.

MACD has crossed up and is getting stronger, momentum is accelerating. Immediate resistance is at ZAC 75, then ZAC 82 if it extends.

Levels to Watch:

• Entry Zone: Pullback to ZAC 67-65

• Targets: ZAC 75 and ZAC 82

• Stop Loss: Below ZAC 60

Look for a retest of the breakout zone, which is a lower risk entry point.

What the Halt Means for Investors

Kore Potash’s ASX halt shouldn’t be seen as a negative. In fact it’s common for companies to pause trading when finalising sensitive announcements. In this case it’s likely the company is close to announcing funding for the Kola project—a long awaited catalyst that could change the company’s valuation trajectory.

With the stock breaking technicals and momentum building, all eyes are on the next disclosure. If funding is confirmed, KP2 could go to ZAC 82-89 in the medium term.