Kenmare Resources Share Discussion Threads

[donkey40] 30/10/2018 23:56

Kenmare Resources in a snap shot:

Revenue 2018 - $275m
EBITDA - range $90m - $100m;
Shares in issue - 109m shares;
Share price traded today - £2.20;
Sector - product prices trending higher;
Competition - supply side has problems, demand side steady;

TZMI annual conference in SG on 12-14 November when the great and the good get together.

Will that light the share price? Doubt it but sure we all live in hope !

[donkey40] 30/10/2018 15:40

Their reports are getting better. Clear and concise.

[murraybasin] 28/10/2018 16:32

P.S. When all of this FAANG nonsense starts to go south, where will they money go?

[donkey40] 28/10/2018 11:36

t’s been a tale of contradiction and frustration for many investors. The backdrop is good but the share price is weak, We ask the question no one else has ……WHY?

Whether you are looking for Capital Growth, Value or Income, Does Lloyds tick one, any or all of these boxes? Or is it now time to dump the shares and move on.
We delve deep into the company, recent developments and the outlook, in this free special report.

Seems we are not alone with great looking fundamentals..

[donkey40] 26/10/2018 19:06

Well that was a particularly underwhelming week..... And nothing to talk about, whilst we wait .... and wait .... and waaaait.

[donkey40] 21/10/2018 01:25

From Iluka quarterly today:

The market for high-grade titanium feedstocks remained tight through the third quarter as pigment customers maintained high levels of plant utilisation, creating strong demand during a period in which production disruptions at feedstock producers limited supply. Ongoing issues with feedstock suppliers have led to some downstream customers noting concerns as to whether there will be sufficient high-grade ore available in 2019. The rutile market remains particularly tight, with no available inventory being reported in the supply chain. All of Iluka’s high-grade titanium feedstock production remains contracted or allocated to customers for the remainder of the year, with sales limited by production.

[murraybasin] 20/10/2018 13:51

!YOUTUBEVIDEO:dFrN9CvGn48:
Kenmare Resources to add 20% capacity expansion/40% margin expansion.

Round up of Capital Markets Day material and recent research:

IG TV (17/10/2018)


Capital Markets Day Companion Video (16/10/2018)


Capital Markets Day Web Cast (16/10/2018)


Capital Markets Day Presentation (16/10/2018)

( 20% growth leading to 40% increase in margins due to largely fixed operating cost base )

Hannam & Partners Research (06/09/2018, expect update)

[murraybasin] 20/10/2018 10:53

More from the dark side:

[murraybasin] 20/10/2018 10:10

From the dark side:

[donkey40] 20/10/2018 00:14

Yup - tell me something new please. Soon.

[murraybasin] 19/10/2018 21:16

Pappy still sleeping?

[murraybasin] 19/10/2018 20:46

Bullseye ... hxxps://www.mammoet.com/

[murraybasin] 19/10/2018 20:46

Job L. from Davy going straight after the acquisition question.

[murraybasin] 19/10/2018 20:42

I notice the CMD webcast is on Buchanan's web site. Suggests the company is taking care of the PR problem that the idiots over yonder are complaining about.

[murraybasin] 19/10/2018 20:35

Has pappy dozed off again?

[murraybasin] 17/10/2018 20:21

Shake the room ...

[donkey40] 17/10/2018 12:38

Boom - the end game right there ! When when when.....

[donkey40] 17/10/2018 08:35

So the CMD then is just a lot of noise about securing a 20% Increase in production capacity of their lowest revenue generating product for next 20-odd years at a cost of ~$150m. Translates to a 12-14% incremental revenue increase.

Whilst they have future proofed the company etc, it also highlights the ‘inefficient’ extent of original Capex.

You got to think the Chinese will buy it eventually to secure high grade feedstock for their chloride smelters. I just dont see this mgmt team taking on vertical integration expansion.

[murraybasin] 16/10/2018 21:21

Ideal scenario here would be to locate top-end MSP and upgrading plant in geo-politically stable jurisdiction and then ship HMC from the mine site. Assuming sufficient capacity, you could also then consume HMC from other mines. Ref Image/Strandline looking to just mine HMC and hand it over, balancing capital, risk and revenue.

I'd envisage multiple modular lines to pre-empt the possibility of force-majeure on the entire operation as a result of some major line failure.

Iluka put the cost of putting an SR kiln in play at about AUD 250m, and then there are periodic maintenance/relining activities. You would need to be acute on your economics.

A lot to be said for optimising the mine and letting others assume the capital and competitive risk for the upgrade process. Slaggers don't seem to be making a lot of money and RTFeT and ILU have had kilns off line for years.

[donkey40] 16/10/2018 19:46

The plan coming loud and clear from today is to maximise plant utilisation from the core $1.25 billion Capex investment. That takes them to 1.2m tpa ilmenite and co-products. Then once positioned, start returning capital to shareholders.

I doubt however the mgmt team will want to do, and only this, for the next 100 years life of Moma. But it is what they needed to do for 3-5 post the MD and problems of the past.

What do they do thereafter - mine more ilmenite (horizontal integration) or move up the value chain (vertically)? I would think the later has more appeal personally. Equally I accept the argument they are a single asset company and vertical integration doesn’t particularly change that risk.

This stock should be 5 quid at least. Sometime it will be; the question is what will be the catalyst.