Kenmare Resources (KMR)

Sector:

Mining

Index:

FTSE Small Cap

234.00p
   
  • Change Today:
    -22.00p
  • 52 Week High: 286.00
  • 52 Week Low: 169.00
  • Currency: UK Pounds
  • Shares Issued: 109.74m
  • Volume: 131,934
  • Market Cap: £256.78m
  • RiskGrade: 179

Kenmare making solid progress with three-part growth strategy

By Josh White

Date: Monday 02 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Titanium and zircon producer Kenmare Resources announced on Monday that the Wet Concentrator Plant C development project produced its first heavy mineral concentrate in late February.
The London-listed firm said that as part of its growth strategy to increase production to 1.2 million tonnes per annum of ilmenite from 2021, it was undertaking three development projects, with the first - a 20% expansion of Wet Concentrator Plant B - commissioned successfully in late 2018.

It said the second project was for the development of a third mining operation, with Wet Concentrator Plant C delivering its first heavy mineral concentrate production in late February.

Acceptance and performance testing would begin "shortly", after which the management of Wet Concentrator Plant C would be transferred from the development team to the operations team.

The project remained on track to be completed within its $45m budget, Kenmare said.

It explained that the third project, the relocation of Wet Concentrator Plant B from Namalope to the high grade ore zone at Pilivili, was on schedule to take place in the third quarter of 2020.

About 60% of contracts in relation to that project had already been awarded, the board said, and construction of the purpose-built road was said to be well underway.

"The construction of Wet Concentrator Plant C represents the last phase of our outlined mining capacity increase," said managing director Michael Carvill.

"Later this year we will move Wet Concentrator Plant B from Namalope to the high grade Pilivili ore zone, positioning us to achieve our targeted production rate of 1.2 million tonnes per annum of ilmenite from 2021."

Carvill said the projects were expected to enhance the company's margins, provide stronger cash flow stability, and position it in the first quartile of the industry revenue-to-cost curve.

"Following the completion of our capital expenditure programme, we expect to generate significantly stronger free cash flow, which will enable us to provide higher returns to shareholders."

Kenmare said it would release its 2019 preliminary results on 19 March.

At 0829 GMT, shares in Kenmare Resources were up 4.07% at 230p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KMR Market Data

Currency UK Pounds
Share Price 234.00p
Change Today -22.00p
% Change -8.59 %
52 Week High 286.00
52 Week Low 169.00
Volume 131,934
Shares Issued 109.74m
Market Cap £256.78m
RiskGrade 179

KMR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.85% above the market average76.85% above the market average76.85% above the market average76.85% above the market average76.85% above the market average
67.86% above the sector average67.86% above the sector average67.86% above the sector average67.86% above the sector average67.86% above the sector average
Price Trend
34.80% above the market average34.80% above the market average34.80% above the market average34.80% above the market average34.80% above the market average
14.52% below the sector average14.52% below the sector average14.52% below the sector average14.52% below the sector average14.52% below the sector average
Income
52.67% above the market average52.67% above the market average52.67% above the market average52.67% above the market average52.67% above the market average
13.04% above the sector average13.04% above the sector average13.04% above the sector average13.04% above the sector average13.04% above the sector average
Growth
72.13% above the market average72.13% above the market average72.13% above the market average72.13% above the market average72.13% above the market average
38.98% above the sector average38.98% above the sector average38.98% above the sector average38.98% above the sector average38.98% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

KMR Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Sep-20 16-Apr-20
Paid 23-Oct-20 19-May-20
Amount 2.31¢ 5.52¢

Trades for 21-Sep-2020

Time Volume / Share Price
16:35 1,731 @ 234.00p
16:29 1,000 @ 239.00p
16:19 203 @ 240.00p
16:08 2 @ 241.00p
16:08 895 @ 241.00p

KMR Key Personnel

Finance Director Tony McCluskey

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