Kropz PLC - South Africa-focused phosphate producer and developer - Says it knows of no reason for the recent rise in its share price.
On Friday, African Rainbow Capital Investments Ltd noted that Kropz Elandsfontein, a project on South Africa’s west coast 74%-owned by Kropz, faced challenges in increasing production in the third quarter, but management had identified key issues related to ore variability, production bottlenecks, liberation, and flotation.
‘Despite these hurdles, Kropz successfully sold 80,771 tonnes of phosphate concentrate during the quarter. Production trials and development of the Nanophos product have also begun, with several small sales completed,’ African Rainbow had said on Friday.
Kropz shares had briefly jumped to 3.85 pence each on Friday afternoon in London, after opening at 1.20p each, but have come down a bit since.
Current stock price: 2.16p each, up 77% on Monday afternoon in London
12-month change: down 38%
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