Kenmare Resources Share Discussion Threads

[donkey40] 08/8/2018 21:50

He reminds me of Peace - stuck on saying nothing and posting just to ‘itch’. He says I know nothing about Tlou and have been bashing it for 3 years - nuff said.

Tlou gliding to the next ambush - sit back and enjoy.

[murraybasin] 08/8/2018 18:31

With KMR as with TLOU /you/ know what you know but /you/ don't know what you don't know; very dangerous position to be in. You were certain CARC2 was going to be a problem. Now it's certain it isn't. Your other assertions are as equally weak.

I have an inkling that TLOU is going to be much less exciting than you or anyone else ever imagined. TLOU down from 16+p to 6p; was it a better opportunity? Maybe the market knows what you don't; you're in for 10% or less than you're being led to believe you're in for.

In the mean time KMR H1 results are out 20th August. Whatever will be will be. Starting with $50m+ EBITDA and $85m in the bank.

[wheniamfree] 08/8/2018 16:44

So given we can expect a weaker H2 and stock depletion has increased - what’s next?

Based in a country rife with terrorism and a riddled with debt and instability expect this to head sub 200p.

No firm plans on a divi just a “we will let you know later in the year” approach. Probably after they have seen how Q3 turns out.

No interest from any of the institutions, like I said - much better opportunities out there. Peak of the cyclical markets and a downturn to look forward to.

[murraybasin] 08/8/2018 09:04

CARC2: NOT

hxxps://efsa.onlinelibrary.wiley.com/doi/epdf/10.2903/j.efsa.2018.5366

Abstract

The European Commission requested EFSA to carry out a scientific evaluation on four studies on the potential toxicity of titanium dioxide (TiO2) used as a food additive (E 171) and to indicate whether they would merit re-opening the existing opinion of EFSA on the safety of TiO2 (E 171) as a food additive. The results of the Bettini et al. (2017) study did not provide enough justification for a new carcinogenicity study, but, should additional useful mechanistic information become available, this could be reconsidered in future. The new in vitro findings in the Proquin et al. (2017) study did notmodify the conclusion on the genotoxicity of TiO2 as stated in the previous EFSA opinion of 2016 on the safety of TiO2 (E 171) as a food additive. The effects of engineered TiO2 nanoparticles reported by the Guo et al. (2017) study were of uncertain biological significance and therefore of limited relevance for the risk assessment of the food additive TiO2 (E 171). There was significant uncertainty in the risk assessment performed by Heringa et al. (2016), which did not include a weight of evidence analysis of the whole database. The Panel considered that the four studies evaluated, highlighted some concerns but with uncertainties, therefore their relevance for the risk assessment was considered limited and further research would be needed to decrease the level of uncertainties. Overall, three of the studies, reporting that TiO2 induced various effects in in vitro and in vivo models, may be useful for hazard identification of TiO2. In the fourth study by Heringa et al. (2016), numerous assumptions were made, which resulted in large uncertainty in their conclusion. Altogether, the Panel concluded that the outcome of the four studies did not merit re-opening the existing opinion of EFSA related to the safety of TiO2 (E 171) as a food additive.

© 2018 European Food Safety Authority.

EFSA Journal published by John Wiley and Sons Ltd on behalf of European Food Safety Authority.

[donkey40] 07/8/2018 09:23

And follow article today - one of the largest heavy metal deposits in the world. But going to be difficult to be allowed to mine.

[donkey40] 06/8/2018 10:38

More good news limiting supply side expansion. This is a large, high grade deposit so is good for everyone except MRC shareholders.

[murraybasin] 03/8/2018 15:25

Flirting with the 50 day SMA, powerful juju.

[donkey40] 01/8/2018 00:55

Indeed, new guy suggests Steve McT is short dated. A good thing in my book. However of more concern to me is the fire in MC belly seems to be diminished.

[murraybasin] 31/7/2018 20:42

FFS, TIO2 classification (in France only), specifically of E171 [only], is going to hurt the ilmenite market? Get a grip you complete nonce.

The proxy voting at the AGM didn't suggest anyone wanted a major shake up of the new and improved board. No doubt, if the major shareholders want it, or the major shareholders believe the city want it, they would have had it done in the two years they've had majority control of the company.

They've just made another recent board change; we'll see whether that is a precursor to a change at the top table or not.

[donkey40] 31/7/2018 19:39

Welcome back - alternate and well articulated views are welcome here.

[donkey40] 21/7/2018 10:46

Disagree. Institutional behaviour and management paralysis through committee process - classic way for inaction through desire for personal survival in well paying, cushy jobs

[murraybasin] 21/7/2018 09:20

EIB? Doesn't really tell us much about KMR. Out of $239b capital the $18m or so in capital; barely registers.

[donkey40] 20/7/2018 21:50

Now we know.

[donkey40] 19/7/2018 23:29

There is a report out today that S Africa $100 billion FDI investment target will be reached within one year. Sometimes you wonder which planet people live on and do they genuinely believe the fish that comes out their mouth.
It is africa. It is difficult. It takes time. Generally a lot more time than is normally reasonable. Lucky that KMR can be there for the next 100 years then

[donkey40] 19/7/2018 20:52

Agree on BlueJay. My sense is Rio will exit TiO2 sooner than later - margins are not enough for them nowadays given their desire for mega project and market control.

Stock drawdown - well that is what it is there for, right. What worried me a little more was the news that power grid stability issues resurfaced. Power shortages are likely to escalate down in southern africa. Then again, KMR mentioned in a previous call there was a new line either under design or under construction to a new sub station. Wonder what progress there is.

Maybe Tlou can help out...

[murraybasin] 19/7/2018 19:00

A 64kt stock draw down in a given quarter won't be usual. Otherwise, agree. Everything seems ticket-y-boo from the perspective of production and longer term strategic goals. Company is grossly undervalued given they have $9m net debt and nigh on $85m just sitting there. Depending on the capex. and possible dividend outlay in H2 that figure could be pushing $120m by year end. H2 capex. will be well funded by H2 cash flow. While gross debt will be down another $10m (August payment).

Next thing I expect to see is some ED/NED buying and another chess move at the top table. If we get to net debt=zero in August or so it would be news-worthy even if between reporting periods. It would be nice to see the directors going back into the market for shares, especially at this price.

I see share price Angel trying to talk up BlueJay as a possible takeover target for Rio Tinto; bad sign for BlueJay I think.

[donkey40] 19/7/2018 14:48

Why is it unusual circumstances? It all seems pretty much BAU to me, with noise all around to scare people. Yet mine performance is as good pretty much as it has ever been.

[murraybasin] 18/7/2018 19:49

Record shipments in unusual circumstances. Let's get to standard and move on from there. Yes, clearly they are armor plating the hull. If they get to nameplate, I have numbers suggesting GM could be close to 100% or more. What we need to watch is overall supply/demand profile. Increased global GDP (population), declining assemblages, the whole China/trade war thing, is noise. Ditto Greece, etc. All a side show to create opportunities to take money from investors. I'm guessing Trump has been made president so that he can be a humpty-dumpty. I expect something material to happen on the Trump watch.

[donkey40] 18/7/2018 00:49

So are they / they are future proofing then?

Record shipments achieved and said with no sense of achievement - strange!

[murraybasin] 17/7/2018 20:01

It's like when someone correlates slowing growth with contraction, entirely not the same. The whole reason for being of WCP B upgrade is exactly to keep the throughput up and unit costs down in the face of lower grades in Namalope. The hypothetical WCP C (with dredge) is intended to finish on a higher grade zone that is near the current MSP at Namalope after both WCP A and WCP B move off, either both to Pilivili or one to each of Pilivili and Congolone, both being higher grade zones.

Now, how does it look when WCP A and WCP B and WCP C are all mining higher grade zones? Next problem you have is can the MSP handle the entire output when you're starting to produce HMC for products in excess of the 1.3mt design capacity because of additional dredge capacity and additional WCP capacity? Good problem to have as long as the supply/demand economics support it. However, you also earned the right to throttle backwards, reducing cost and throughput to suit market conditions.

[donkey40] 17/7/2018 12:56

I suspect it will. Equally they are going to have to start putting a positive bias on news ahead of that, and thereafter. Is madness they have all this good news, yet phrase it in a way designed to deflate the reader.
The question is why?

[datahead] 17/7/2018 12:06

I just put it down to conservatism - burnt with optimism too many times so let the numbers come and off we go - october will be an interesting event