Kenmare Resources Share Discussion Threads

[plat hunter] 07/5/2019 13:10

it can still bounce of 182 to confirm the range yet... If it does then I 'd be thinking that it's all priced in.

When I have followed companies with such a long base as what seems to be developing here, there usually is an inflection point RNS at some point. Sometimes it's a TR1 showing more support, or as you say a placing to add value. What normally then follows is the breakout and multibag gains.

[wheniamfree] 07/5/2019 12:59

190p breached.

Nothing breath taking on the horizon except a potential equity dilution to fund their development strategy.

It’s all in the RNS, other avenues to be explored. I think the market are under the same impression.

150p raise?

[murraybasin] 02/5/2019 21:22

Looks like someone is poking the bear.

[murraybasin] 02/5/2019 08:53

I will certainly be curious about that too.

[donkey40] 02/5/2019 07:27

I seem to remember similar posturing in the 2 /3 weeks prior to AGM last year. I wonder what the answer will be this year about lack of share price progress.....

[murraybasin] 01/5/2019 18:02

See someone laid down almost 1/2m today.

[murraybasin] 29/4/2019 19:17

Tightening ilmenite market; who would benefit from that?

[donkey40] 29/4/2019 17:52

Unbelievable - so are we now talking about Kenmare being a controlled company/stock. If so, there are tax implications around this - is about bloody time this was let run to 3 quid plus. The current trading levels are clearly a stock in a controlled or manipulated situation.

[sharpshare] 29/4/2019 14:25

From Base Resources today:

"Constraints on the global supply of sulphate ilmenite and high-grade chloride feedstocks (including rutile) have continued into the quarter. In particular, supply of ilmenite from two of the major ilmenite producing countries, India and Vietnam, has declined sharply. In India, a recent blanket ban on private mining of mineral sands by the national government has added to existing bans on mining and exports by state governments in the major producing states of Tamil Nadu and Andrah Pradesh. In Vietnam, export quotas for ilmenite need to be renewed for some producers and the relatively high cost of production, together with the uncertainty of obtaining future export quotas, is restricting mining activity.

Chinese pigment experienced a strong increase in demand following Chinese New Year and pigment producers were able to secure price increases for their pigment through the quarter. The improved conditions have resulted in increased pigment production activity which has maintained a high demand for ilmenite. These conditions have continued into the start of the seasonally strong June quarter.

The emerging ilmenite deficit being created by strong demand and supply restrictions has resulted in a strengthening ilmenite price through the end of the quarter and into the June quarter. Demand for Base Resources ilmenite from existing customers exceeded the Company’s ability to supply and there has been a significant increase in enquiries from new customers globally...."

[pugugly] 29/4/2019 08:03

Mozambique situation 'worse than thought': UN agency
Pemba in north Mozambique has had more than two metres of rain and flooding since Cyclone Kenneth.

Our mine is on the coast of the Northern Province of Nampula at Moma, some 160km South of Nampula city

Looks as though the mine may have escaped again but terrible situation in the North of the country - Sympathies to all impacted.

[murraybasin] 24/4/2019 20:40

I vaguely recall, as one does, that there was also the prospect of a special dividend, buyback, or both.

[caposoka] 24/4/2019 19:33

I am not here to knock anyone but when someone is posting rubbish simply to provoke others, it makes it all a bit dull. Decent craic would be a different matter. Shares in circulation – 109M, has been thus for nearly 3 years. Stocks – circa 200kt, has been thus since year end 2014 and +/- ever since to take out the bumps on the road. Capex - not to tread water but increase production by 20% by 2021. Cash – enough to pay off debt by 2021, fund 145M capex and have enough left over to pay 20% on NP in dividends.

[murraybasin] 24/4/2019 17:46

I'd forget it. The guy is clearly clueless both as to the balance sheet, operating margin, expected capital costs, and shipping.

Here's an example: Jetty output is 1000tph and transhipment capacity is 7368t. If they only make one trip per day they can still manage 2.6mt per annum. The shipping capacity far outstrips the mine output of 1mt or target of 1.2mt, hence weather outages are not a problem. They should in reality be able to handle 100kt per week.

[donkey40] 24/4/2019 15:24

Yup, the lack of constructive response told me all I needed to know

[wheniamfree] 24/4/2019 13:12

The absence of a constructive response should tell onlookers all they need to know.

Spending money to tread water and maintain production figures and stock piles whilst increasing operating expenses against a down turn in commodity prices (outside of all other risks) does not make this a growth stock.

As for your consistent drone of EBITDA, it appears the market aren’t convinced and nor are major holders Majedie who are running for the exit on whatever minimal liquidity becomes available (the stock is stale). Prior to last year end where KMR posted their first year profit in a while can you tell me how many years prior they posted a net loss? What PE multiple can you apply to such abject failure?

I will be surprised if, given all of the risks and uncertainties they don’t close out the year at another loss without total depletion of stock piles.

Should PEEL and co come a knocking what price do we propose the raise will be? 175p, 150p?

[donkey40] 24/4/2019 11:16

...”how they propose to cover the $145m Capex on existing revenues”.

Like I said guys, it’s pointless arguing with this mental giant!

[wheniamfree] 24/4/2019 10:33

Oh and to top it off MC and crew are still earning a crust at the helm despite their past performance of total shareholder destruction.

That’s my reference to the 200-1 consolidation, rather pertinent since you keep forgetting to mention it when you state there are 109m in issue.

[wheniamfree] 24/4/2019 10:31

I’d also like to see how they propose to cover the $145m CAPEX on existing revenues.

Their operating costs have increased, the grades are falling, they have traded flat the rally in the cyclical commodity market, their shipping numbers have taken a substantial knock, the region is rife with increased terrorism and their are a number of weather phenomena’s blowing the doors off.

Sounds perfect.

[wheniamfree] 24/4/2019 10:24

Donkey, this board is to discuss KMR stop making it all about yourself.

I have an interest, storms a brewing.

[donkey40] 24/4/2019 10:11

Remind everyone what relevance that has to the investment case in the present day.

Since you are so focused on this for ‘my’ investment, then you should be glad you are getting a heads up on ‘your’ investment. Since it will have probably a Billion shares in issue before it turns a $ of revenue.

Your continued efforts to disparage either KMR or me really say a lot about you mate. As always, when I read your usual sh1t, I am reminded about your efforts to report me to the FCA, Interpol and Office of the President when commenting on a company where I have been proven to be largely correct.

I think best you go back and hibernate early this year. Better still, keep loading up your truck elsewhere - as you continually encourage others to do - and await the stellar returns you envisage!

[wheniamfree] 24/4/2019 10:06

Murray, I’m telling it as it is.

Let us see why Peel have been put in place, answers on a post card but I’d suspect the begging bowl is out.

Plenty of development costs to be found and as per the above extract;

“We will be assessing additional measures to enhance financial flexibility while we deliver our outlined projects, in addition to providing stability and protection against inevitable economic and commodity cycles.”

Head, sand, buried.

[wheniamfree] 24/4/2019 10:03

109m in issue multiplied by 200.

I notice you forgot the wipeout consolidation.

[donkey40] 24/4/2019 10:00

With 109m shares in issue, EBITDA of $100+m forecast for 2019, a 2 year Capex of $145m ahead and gross debt of $65m and net cash positive, well I for one would welcome an equity issue to kill a decent chunk of the Capex.
But I guess others with a more personal agenda would prefer to see things differently.
With Kenneth approaching, and the aftermath of Idai, I would expect major lock down in place. If it hits, well the infrastructure is sure going to get a good old testing.