Share Name Share Symbol Market Type Share ISIN Share Description
Kenmare Resources Plc LSE:KMR London Ordinary Share IE00BDC5DG00 ORD EUR0.001
  Price Change % Change Share Price Shares Traded Last Trade
  15.00 5.26% 300.00 188,859 16:29:56
Bid Price Offer Price High Price Low Price Open Price
300.00 303.00 310.00 285.00 285.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 204.30 37.67 30.92 9.8 329
Last Trade Time Trade Type Trade Size Trade Price Currency
17:05:41 O 557 294.113 GBX

Kenmare Resources (KMR) Latest News (3)

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Kenmare Resources Daily Update: Kenmare Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker KMR. The last closing price for Kenmare Resources was 285p.
Kenmare Resources Plc has a 4 week average price of 280p and a 12 week average price of 229p.
The 1 year high share price is 310p while the 1 year low share price is currently 138p.
There are currently 109,736,382 shares in issue and the average daily traded volume is 100,003 shares. The market capitalisation of Kenmare Resources Plc is £329,209,146.
andyf987: RNS today will hopefully be the catalyst for the next leg up of the share price. All appears to be going well and as planned.
petomi: I took the update as very positive (apart of course from the dreadful fatality). The progress on the WCPB relocation and restart ahead of plan is key (especially given some of the prior history which LTHs will recall with pain). If they can get production from the higher grades there going smoothly it would represent a major derisking and the ambitious price targets would start to look realistic. One concern which I haven't seen given a lot of attention is the security situation further north. This needs monitoring and would deter me from taking a larger position at present. GLA
caposoka: Hi Donkey, trust you and others on here are well. Agree with your post only that it must be extremely unlikely they will go down this route of issuing shares. At H1 presentation, KMR did not officially give guidance on future net debt but FD referred to consensus estimates of 75M at year end. Well within their facilities. After the WCP B move, extra cash flow to lead to either special dividends or share buy-backs. They will not issue now only to buy back in short term. Also, loan interest would be cheaper than cost of placing and buying back shares so financially do not see a benefit.
ukgeorge: From share price Angel Kenmare Resources (KMR LN) – 194p, Mkt cap £213m – Ilmenite and rutile production fall heavily through first half • Kenmare Resources report significant falls in ilmenite and rutile production through the first half. • Ilmenite production fell 19% in H1 • Rutile production fell 34% in H1 • Zircon production fell 8% in H1 despite a 5% improvement on the first quarter. • Kenmare now expects to produce 700,000-800,000t of ilmenite in 2020 vs guidance of 800,000-900,000t issued on 9 January. • Kenmare has net debt of net debt of US$52.7m with cash of US$100m end-June and debt at US$151.3m. • excavated ore volumes increased by 27%. • Ilmenite prices rose to $220/t at end February and have held this level despite concerns that a fall in GDP might hit demand • Lockdowns at some key major producers appears to have exacerbated an already tight titanium dioxide and ilmenite feedstock market. • Demand may have been supported by Western consumers stripping shelves of paint in the days before lockdown as they prepared to use the time off productively. Sadly I wasn’t able to co-opt any furloughed youngsters into painting my house. • Major producers are currently seen battling to make up for lost production in what we presume remains a relatively tight market. • Kenmare “expect the market to be more subdued in the second half of the year, as the pandemic impacts both demand and supply of titanium feedstocks, but the long-term fundamentals for all of our products remain strong.” • “Strong ilmenite market conditions continued in Q2 2020 and Kenmare has secured offtake agreements for the majority of its ilmenite production in H2 2020” • Unemployed people in the West generally get out there and pain their houses so don’t be surprised if demand for pigments remains stronger than expected. • Kenmare raised production of heavy mineral concentrate by 13% yoy to 310,300t in Q2 2020 • Ilmenite production fell 5% to 209,900t in Q2 due to the retreatment of spillage from the prior period. • Zircon production rose 5% to 11,600t • Shipments fell 29% yoy to 219,100t in Q2 but rose 13% on Q1 • Coronavirus restrictions caused delays to the relocation of Wet Concentrator Plant B with this expected to restart in in Q4. • Mozambique now authorising work visas for contractors to site. • Mozambique remains in a state of emergency despite only nine official coronavirus fatalities. The nation is now in its third 30-day state of emergency which constitutionally can only last for 90 days. In contrast significant casualties are seen in fighting against al-Shabab jihadists in the north where some 700 people have been killed and thousands displaced since the insurgency began two years ago. Conclusion: Kenmare’s production report and guidance highlights how the Coronavirus lockdowns can impact mining companies and the market. Prevailing high prices for ilmenite and rutile feedstock are symptomatic of an industry which is struggling to meet demand in the face of low inventory levels.
donkey40: Omanis are basically the owners of KMR and given the country’s wealth is generated from gas, I feel they are a solid partner for KMR ahead. As long as KMR keeps generating cash over the years (short term blip is ok) to pay dividends. And that seems to be all that KMR is now - a one trick pony to generate cash and reward the shareholders who bailed the company (and current mgmt) out. The 30% and 20% shareholders simply can’t start drip feeding their shares into the market and hope no one notices. With EIB gone, question is who is buying. Plus we might get to see 150p ahead ... Maybe even 120p if things turn really nasty.
donkey40: With a bit of luck, fear and anxiety over covid will drive the short term share price down again to 150p level. Then it is the steal of the century !! Crazy gang on LSE posting and bickering about who was right .... and some are moaning about KMR management drawing down the balance of debt facilities. Plain and simple, that was the smart and clever thing to do !! The longer this outbreak go on (and it really hasn’t yet started in Africa), the harder it will be to get cash from banks as others will increasingly draw down cash reserves. What the short term price is - nobody knows. But taking the longer term view - we may already have a great entry (or average down) price. And that could get even better in the near term days ahead.
donkey40: Cap - what more do we want? For you, Buck, Contango and me to get rich(er) from following KMR. We been here a loooong time and we are still in and around the FP/OO price. Man things must have been way worse then than most of us realised or appreciated. But I’ll bet you KMR mgmt knew all the projects that are being done now, needed then to be done somehow. How they got Oman and M&G (this was a real miracle - after their wipe out) to front up $175m really is the stuff of legends! I wonder if they knew the full extent of the bandaid that would be needed to get to here and now (after Pilivi relocation). So if power is improved. If the Plant & Equipment is all working better with faster processing and good recoveries. If the barges are ferrying our finished goods full throttle to awaiting ships. Is the next project to find a way to load ships more quickly? Or is the next project to build a first smelter .... in ..... Oman perhaps?! That way, KMR take 250/- tonnes per annum ilmenite of the world market in one stroke... I can see a business case for this being pretty darned easy to pull together and get financed !! Some of the lads on LSE are pretty spot on you know, with voicing their frustration about always jam tomorrow. It has been that way for a good few years now... 2020 has very little chance to surprise on the upside; far more likely to hit problems - which they will conveniently excuse away as the last of the projects to future-proof the company for next 5-10 years. But it is more time wasted for us small shareholders waiting and wondering when the share price reflects a more normal cash flow based fair value. At the moment, we are maybe 50% below cash flow based fair value imo. And I am very bored waiting for the market to prove me correct :)
donkey40: HNY greetings and all that. I am still poor thanks to KMR, so really I ain’t much in the mood to big it up. I have long held the view that KMR share price is stage managed to suit others particular outcome. The share price jumped from the 210 range to 230 range last week, on thin volume. That got me thinking. That got me thinking either Oman or M&G wanted it higher at year end - why? Why is easy - gaited funds and all that so pressure elsewhere within M&G to show good year end liquidity and valuations (within reason). Take the ‘look after the pennies’ approach - and year end valuations etc look better than they otherwise might. Then I decided to test the market yday and today. Sold a few shares yday at 235p but there was no appetite for buyers to drive it higher. So today I stuck shares to sell at 234p, 235p, 236, 237p, 237.5p and 238p. 234 went immediately. 235 went after about 40 mins. 1 share of mine (on to sell at 236) went last trade of the day. Year end close 236. That is the level they wanted (235-236). Now I expect it to trade backward quite quickly in first 2-3 weeks January - between 210-220 range. I personally don’t think the exact year end numbers matter - everyone reasonably knows these are within the guidance range. Shipments will dictate the final Revenue figure for 2019 and if this is less than expected, we can expect great attention piled onto outlook for ilmenite in 2020 (started with a bang). Reality here - one mine and a set suit of products to produce and sell. Dominant position in the market. Tough place to do business but they should, by now, know how to co-exist there reasonably successfully. The problems are what management are paid to manage through... It’s all quite boring really !!! HNY
donkey40: Well if Brexit impacts meaningfully on KMR share price, there is not much point of idiots like us trying to punt the markets... And DT rhetoric, well that is designed to Make America Great Again, so that leads to domestic consumption (not regression). Ie increased demand for paint. So, sorry, but all this market rhetoric and justification. - sorry but it doesn’t work for me in terms of why KMR share price is ‘stuck’
wacker101: I generally follow the graphs. 27/07/16 Share price 225p after re-organisation etc 22/09/16 Share price hit 366p before falling back to 241p (21/11/16) 2 month fall 20/01/17 Share price hit 344p before falling back to 270p (03/03/17) 2 month fall 21/03/17 Share price hit 320p before falling back to 239p (23/06/17) 3 month fall 27/09/17 Share price hit 345p before falling back to 205p (25/04/18) 9 month fall 17/05/18 Share price hit 251p before falling back to 212p (03/07/18) 2 month fall 03/09/18 Share price hit 253p before falling back to 211p (13/11/18) 2 month fall History suggests we are at or around the lows but the only visible high going forward is back around the 250p by the end of January. The average rise after a fall is around 30% which would take us to 275p but the last 2 rises only hit 250p which is a 20% rise from the low. I don't like using figures in isolation but factoring in the book price the share price should be:- 27/07/16 260p approx. 22/09/16 344p approx. 20/01/17 378p approx. 21/03/17 498p approx. 27/09/17 612p approx. 17/05/18 445p approx. 03/09/18 450p approx 13/11/18 421p approx. How it gets to the approximate book price is a mystery. I think a catalyst is required. The future dividend may provide an uplift due to more interest in the stock from Income funds due to low book price and p/e ratio. The only other mining share I could find with similar share statistics is Petropavlovsk PLC. Not sure of it's financial position though without researching further. Most other mining stocks are around their book price +/- 20% with the exception of Lonmin PLC.
Kenmare Resources share price data is direct from the London Stock Exchange
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