Kore Potash Surges 4.5% to ZAC 69—Deal-Fueled Breakout Sparks Miner Rally
Another sleepy mining stock wakes up—this time on the back of a ’transformational’ deal (because those always work out). Kore Potash barrels past resistance, proving even dirt can moon with enough hype.
Chartists cheer the channel breakout while fundamentals whisper ’buy the rumor.’ Classic.
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.
Kore Potash Price Chart – Source: Tradingview
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.
