Kenmare Resources Share Discussion Threads

[sg31] 10/12/2014 14:37

bought and sold numbers mean nothing. Each deal has a buyer and a seller.

The deal is allocated as a buy or sell depending on whether it's above or below the mid price. That decision isn't made necessarily at the time of the deal so if the price is rising or falling it can skew the figures.

Or something like that...

[gretel1921] 10/12/2014 14:15

Don't get it
24mil shares bought
3mil sold -share price down.
This happens neatly every day,
can somebody explain ?

Shorters?

[aidan61] 10/12/2014 13:52

Guys...... any hope of a offer at this low price?

[bh61] 09/12/2014 17:03

For 30 months this company has been bled dry and ruined by the BoD with their greed and stupidity, unfortunately the private shareholders are the loosers Carvill still gets his $2 mill a year irrespective of the share price

[comane] 09/12/2014 16:13

I've had a few over the years which hit the bottom. But while there is life there's hope so I will on hang on.

[declan2] 09/12/2014 13:59

And they turned down that T/O offer. What a shambles.

[sorksandnorks] 09/12/2014 13:52

Declan - no it won't - it's all over bar the shouting I'm afraid. What a shame, it could have been so successful with competent management.

[declan2] 09/12/2014 12:34

Will it survive 2014 ?

[ravenheart] 09/12/2014 12:12

Ooops. Spoke too soon. Down to 3.54p now, over 20% on the day.

[ravenheart] 09/12/2014 12:04

Looking pretty grim here now....3.78p. Mcap just over £100m. Mind you most resource stocks getting pretty hammered at mo.

Just those that are running out of cash being hammered significantly more................

AIMHO

[sorksandnorks] 09/12/2014 09:55

Down, down, deeper and down. It is said that what goes up must come down but it appears that the reverse is not true - in Kenmare's case what goes down just keeps on doing so! Still, we only have less than 4p to fall into oblivion. Even Kenmare can't go negative, can they?

Is there anyone out there still hoping for a Kenmare turnaround?
Has anyone heard anything from Kenmare?
Does Kenmare still exist?

[imelda] 06/12/2014 16:32

Kenmare Resources Plc (KMR), the Irish mining company that has its main project in Mozambique, has been criticized by the Center for Public Integrity’s local unit, which said it hasn’t met pledges made to people near its site.

Infrastructure upgrades around the Momo mine promised by Kenmare haven’t materialized, schools the Dublin-based company built aren’t connected to the power grid and housing for families displaced by the project is inadequate, Borges Nhamire, a researcher for the Washington-based Center in Maputo, wrote in a Nov. 30 report.

Kenmare said the criticisms are unfair and that it is meeting its obligations under contracts signed with the government in 2002.

The Moma mine, in the northern Nampula province, produces ilmenite and rutile, used in steelmaking, as well as zircon, which can be used in television and computer screens. Last year, the Center for Public Integrity said Kenmare should have paid Mozambique more tax, a claim the company rejected.

“Once again, we’ve been rather unfairly treated with this report,” Gareth Clifton, Kenmare’s project manager, said by phone yesterday.

According to the center, Kenmare undertook to arrange financing for an electricity transmission line taking power to the mine and surrounding villages, and for a road leading to the mine. While the transmission line is in place, many local houses are still not connected to the grid, it said. The road hasn’t been sealed and is impassable in the rainy season.

Houses, Power

Kenmare ensures the dirt road is usable, so that trucks can reach its facility year round, and by doing so fulfills its contracted responsibilities, Clifton said.

Kenmare has built seven schools near the mine, two of which are aren’t linked to the power grid, he said. Connecting those to electricity supply is the up to the schools or the local municipality, not the company, he said.

Housing provided for displaced families was built to World Bank specifications, with each allocated a 50 square-meter (540 square foot) plot, Clifton said.

Kenmare has slumped 79 percent in London trading this year, giving the company a market value of about 124 million pounds ($194 million).

For Related News and Information: Kenmare Resources Names Ben Baxter COO as Deysel Steps Down Kenmare Says Talks on Potential Offer From Iluka at Early Stage Mozambique Union Wants a Role in Project Talks to Safeguard Jobs

To contact the reporter on this story: Tom Bowker in Maputo at [e-mail]

To contact the editors responsible for this story: Antony Sguazzin at [e-mail] John Viljoen, Emily Bowers

[amj321pixiebristol] 04/12/2014 22:45

Probably the cheap options attracted the new COO - their price will be better than anybody else's on the Board lol.

[sg31] 04/12/2014 17:37

Why get someone new in as COO from Rio Tinto who knows how to improve operating unit costs if you are about to go insolvent ?

Last throw of the dice.

More importantly why move and accept a role as COO if there is a chance company is living on borrowed time?

Pay enough and they will come.

KMR aren't in control anymore. The commodity price they can't control and it can kill them. Too much debt, the banks can withdraw support and KMR are toast.

All that remains is silence.

They've always been like this. If there is bad news they don't mention it. They will tell you some good news instead even if it is totally irrelevant. "We have had no lost time injuries in the last year" but forget to mention they've been on care and maintenance during that time. You get the idea.

[ravenheart] 04/12/2014 17:19

At an share price of 1p Moma mine with all it's plant, infrastructure and 100 year + resource life is valued at appx £250m (£25m mcap + circa £225m debt). Surely a bargain gift for someone............

Why get someone new in as COO from Rio Tinto who knows how to improve operating unit costs if you are about to go insolvent ?

More importantly why move and accept a role as COO if there is a chance company is living on borrowed time ?

AIMHO

[malinkie] 04/12/2014 15:51

Speak up Carvill, act like a man and say or do what you're gonna do......
And do it f...ing quick!

[sorksandnorks] 04/12/2014 15:30

Will this ever stop falling? Yes, when the share price reaches 0p.
Will the KMR Board ever issue another RNS? Yes, when the share price reaches 0p.
Will Iluka return to the table? Yes, when the share price reaches 0p.
Abandon hope all ye still in KMR.
It's going down not with a bang and not even with a Whimper.
All that remains is silence.

[amj321pixiebristol] 03/12/2014 13:05

Aw shucks.....I misread the announcement thinking the headline was " new CEO.."

[sg31] 01/12/2014 19:12

Has it been run to the shareholders best interests over the last few months?

It's never been run in the interests of shareholders. We have just been along for the ride.
That's the trouble with holding shares in nominee accounts, it divorces shareholders from a direct relationship with the company.

[ravenheart] 01/12/2014 17:16

I have to say if a deal with Iluka doesn't go through now or is a lot less than the original offer then the BoD have a lot of explaining to do with current share price at 5.21p.

Who actually owns the company ? Ans : Believe it or not it's the shareholders and they elect the BoD to run/manage the company in the shareholders best interests.

Has it been run to the shareholders best interests over the last few months ? At a quick glance at the share price the short answer is categorically no but I guess we will have to wait and see how it all pans out.

AMHO

[declan2] 01/12/2014 17:02

I think we should change the title in the thread chaps eh?, from construction to destruction.

[donaferentes] 01/12/2014 13:52

Is there some debt-related event horizon we are approaching and looking like failing to meet terms?

Although, this is probably largely related to the oil price - as an indicator not just of market surplus, but of slowing growth w/wide. Oil and TiO2 are not dissimilar in that context, both being primary resource materials.

[bh61] 01/12/2014 13:48

It's hard to beleive they turned down 17p on paper, Carvill will never let the golden goose go.