Kenmare Resources Share Discussion Threads

[donkey40] 05/4/2018 18:19

Like I said - shove your smart alec comments where they belong.

[wheniamfree] 05/4/2018 17:59

No thanks, I am just keen to understand the story with Kenmare since you did suggest it would see similar rises over a year ago in comparison to the other stock?

Perhaps your could enlighten me with some answers to the questions I poised above?

I am genuinely interested since you seem to know so much about it from your levels of research. On the other board I have always been able to answer your questions and correct you so please feel free to help me here.

So far I’ve not seen anything of substance other than a few headline figures which quite frankly don’t really stand out in comparison with other stocks I mentioned earlier which are throwing out FCF.

To complain and critique other companies and other people’s investments and call them fools then I would like to assume you know what is the makings of a good stock.

So over to you, Kenmare and my questions - all valid and all of concern. Perhaps you could alleviate some of those perceived risks for me?

[donkey40] 05/4/2018 17:30

In fact, my last post to you Whendy probably was to subtle for you to spot the sarcasm or disinterest, so let me say it more bluntly.

GFY loser !! You are stupid.

[donkey40] 05/4/2018 17:28

Other than tongue in cheek comments to you, I don’t believe I have been “selling”; this stock to anyone, anywhere. I did (as in, used to) post there that I saw the investment fundamentals of this company there are positive going forward. Thankfully over in that group, the conversation was considerably more grown up, less emotional and way less antagonistic than on a CBM Botswana Stock we both follow.
However, and let me emphasise this for you and say it in as clear and simple a way as possible so you don’t get confused (yet again), I have never pushed, pumped, promoted, this stock to anyone on any board.
And whilst there are current issue(s) impacting the share price now, I anticipate these will be resolved in time and this stock should see its share price rise from today’s level. And rise anywhere from 50-100% for this level relatively quickly.
If you are of a mind to vent, antagonise, frustrate, whine, complain, etc or indeed have valid questions or concerns about this company - I suggest you post on LSE. They are a welcoming enough bunch.
Or call II or DYOR - as I have done for many years here. I certainly don’t need to bother with some Johnny Come lately blow in thinking he is being a smart ass.
The others on LSE may be more accommodating - assuming of course you have real interest to know something.

[wheniamfree] 05/4/2018 17:05

And this is a share your invested in?

You don’t appear to know much? I thought you were selling this as the best thing since sliced bread on the other forum?

[wheniamfree] 05/4/2018 17:03

The Emergence of Violent Extremism in Northern Mozambique



North East Mozambique is the location of the Moma mine is it not Donkey?

This is very concerning, only last week. Surely Mozambique isn’t rosy?

[donkey40] 05/4/2018 16:45

Sorry Whendy, I don’t know that answers to any of those questions.

[wheniamfree] 05/4/2018 16:43

“Kenmare Resources plc is led by a strong and effective Board of Directors. The Board consists of nine Directors; three Executive Directors and six Non-Executive Directors. Ms. Elizabeth Headon is the Senior Independent Non-Executive Director. The roles of the Non-Executive Chairman and Chief Executive are separate.“

So combined remuneration of the board for 2017 shows a total of $3.75m.

In 2016 it was $3.3m.

For what exactly and why is the board so extensive!?

[wheniamfree] 05/4/2018 08:38

Remuneration of the board is ridiculous on historic failure.

At the time of the refinance why did the board not take stock but expected everyone else to? Secondly why did they not take a reduction is salary to offset the ridiculous levels of debt?

Donkey these are all questions I’d hope you can help with?

[wheniamfree] 05/4/2018 08:24

“Production in 2018 is expected to moderate slightly, mainly due to lower opening stockpiles, though ilmenite shipment volumes are expected to be maintained as finished goods inventory is drawn down.

In 2018, Kenmare will upgrade capacity of Wet Concentrator Plant B ("WCP B") by up to 20% uplift in capacity. Further options are being examined which will both address grade reduction in future years and facilitate an increase in ilmenite production beyond 1 million tonnes per annum.”


So to be clear, additional capex required for 2018 to upgrade the Concentrator by some $20m is it? And this is to offset the reduction in grades.

In the mean time they’ll cover themselves with an ever dwindling stockpile.

Now, why are the product prices so low? It appears the low grades are not keeping up with the market prices?

This seems a little bit backwards to me, where is the growth?

MCAP is far too high.

[wheniamfree] 05/4/2018 05:54

Not really I’m just looking for some answers.

Don’t you know?

[donkey40] 04/4/2018 22:24

“Now I asked you .....

Man, you really do like poking yourself up your own ass. GTH

[wheniamfree] 04/4/2018 20:15

Is that the extent of your knowledge?

How many people worked for Carillion before it went under?

Now, I’ve asked you valid questions please can you provide some of your insite around hedging and low product costs?

[donkey40] 04/4/2018 18:55

You are on the money Buzz !! Suggest you also post on LSE and agree there with Nosirendor and Peace. They hold equally similar down views so you can enjoy their company.

[donkey40] 04/4/2018 17:18

Thanks again. Keep researching and uncovering more hidden gems about Moz. When u post something interesting or relevant, maybe I will respond.

Kenmare: 1,400 staff, $208m revenues in 2017 n forecast $260+m for 2018, strong EBITDA recovery and generating lots n lots of free cash!!

Buy some - it’s called value investing.

[wheniamfree] 04/4/2018 11:25

Can you explain the points that I asked earlier Donkey around low cost in regards to product sales for Kenmare.

Is it not a little concerning that they have not placed any hedge facility?

As a comparable, whilst the commodity is different, cross reference the book balances and free cash flow projections against the likes of Hummingbird and SDX Energy.

At a £250m MCAP, it appears the valuation is looking a little full for Kenmare given its perceived risk and historic destruction or shareholder value. Especially when in direct comparison to the above which are capped at half the valuation with much higher projected profits.

Both of which are operating in a more stabilized environment and have board members who have a history of delivering

[wheniamfree] 04/4/2018 11:22

Mozambique falls on corruption index – AIM report

[wheniamfree] 04/4/2018 11:21

Not really the booming economy in Mozambique, GDP Slanted and Corruption Index at its highest yet.

Ranked 153 out of a possible 180, it is not far off Somalia.

[donkey40] 04/4/2018 10:17

Great you both have interest in this one. It’s going up; Sky is the limit for lucky holders. Get on board quick. News could drop at any minute.

[wheniamfree] 03/4/2018 15:32

So the company are running on a zero hedge strategy with zero diversification?

Wasn’t that one of many issues that got them into such a struggle last time?

As for the Company blame and claim of the lenders causing illiquidity, it doesn’t appear there is much appetite for stock since I see no sizeable off or on market stock transfers?

I assume the liquidity the company are seeking from the lenders is what is now being dropped onto market and taking the share price down with it, where are the institutions who are queuing to pick up the supply?

Or is it safe to assume there is a lack of demand.

[wheniamfree] 31/3/2018 16:43

No I can’t which is why I asked.

What are the AISC?

[donkey40] 31/3/2018 16:27

No i cant. I will let you do that.

[wheniamfree] 31/3/2018 15:04

ALL of the above points to do not answer any of my questions.

Given their lack of diversification a primary concern is their ability to hedge, can you provide information on how they have covered this?

I see no statements in regard a put option for a starting point?

Also their low grades and subsequent low cost of sales, both are extremely concerning given past history yet you appear to be overlooking the obvious?

Can you answer?