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There was a lot of trades yesterday selling 2 shares per trade, possibly trying to find a volume but it feels like a bizarre move.
The Company is trying to refinance its facilities and Q4 trading update should have been disclosed this week, typically 18th and announced a week before, so today but it’s not on the website.
Poor that no date announced and other than that there is just capex over next 3 years, which is planned to avoid downtime, so continuous production.
I checked Chinese prices and they have been rising for last 60 days in ilmenite and zircon so it doesn’t seem to be that.
However, I have seen random sell offs before and then announcement from II has sold. In my opinion it will be back above £4 very quickly plus a dividend to be paid.
Could be worse places for cash in 2024
Yeah I've done that, hence why I think it looks a good price. Just trying to work out why it's so cheap.
I would advise you read the recent announcements and updates.
I will be buying this dip later today
I bought Kenmare shares quite a few years ago, looked good from what I read in a Redmayne Bentley article. But the company did some sort of share recapitalisation or something, turned my holding into 10% of what it was 😡 I can't remember all the details and can't be bothered to look back, but that's in my mind when I look at this company. But it's still on my watch list, and the figures look interesting to me now. I'm tempted to buy in again as the fundamentals look good, but I have doubts in my head due to the history of this company. Just my thoughts! Any idea why the share price is so low? From the accounts I'd expect it to be 5 times the price.
This is getting depressing. Hope the price will recover cause it's not looking good.
Just bought some more on this dip
I see COREBRIGHT OL
IMO 9625437
Just left Moma having been there since 28 Dec, Bronagh J left soon after hopefully having deposited another full load. Given the 24 hour or so turnaround of Bronagh J I've noticed there's potential for 50kt plus on this shipment alone. I guess though it's missed the cutoff for 2023, as I believe that's how it works. I understand something similar happened at the end of 3rd Q so thar should be a positive for next weeks update.
Simply answer is yes to some european customers.
KMR typically price FOB but not all customers accept this
it could stop european customers ordering but that simply means stock piled material gets run down below minimum levels
i shouldn’t affect Chinese or US customers
Will this have any effect on the KMR shipping out of Moz?
Some positive signs for Mozambican Ilmenite sands pricing.
https://www.asianmetal.com/TitaniumPrice/Titanium.html
This is the best pricing information I have been able to find and China is a decent customer for KMR
Worth remembering that two ships were late departing in Q3 2023 so if these two ships get away before year end it could be a record quarter, or at least close to it.
If the board can hit the top of the the reforecast shipment range it would be a great result and would soften any weaker pricing in H1 2024, which has already been flagged.
I suspect that update will be strong Q4 better volumes forecast for 2024 but weaker pricing with expectation that global growth returning in H2 2024 will lead to a very strong year.
If this transpires I will be delighted and would expect share price to revisit £4.6 and above in Q1
I did some checking for a couple of days on marine traffic site earlier this month.
On 12/12 Bronagh J arrived Moma 13 56 and left 20 22, I expect that equates to a full load around 5K tonnes plus.
The following day Bronagh J arrived Moma 06 00 and left 10 28, maybe a partial load (still around 5000 tonnes though) before the cargo ship departed.
That looks like a turnaround time of a lot less than 24 hours for one transhipment vessel the Bronagh J.
I thought there was another transhipment vessel but haven't noticed one in the port at all, so if there's another process, for loading cargo ships up this isn't reflected here.
Either way there's potential for good numbers here, if you do the maths and extrapalate upwards for december. However I've no visibility what happened in the earlier months in the quarter !
I wonder how long it takes to load a ship
Another ship gone, two more ships in Moma. It would good to get them away before the week/month/year end if they are taking product.
Happy Christmas. Looking forward to Q4 trading update and associated share price rise on volume increase.
The board rejected iluka’s opportunistic offer before saying it materially undervalued the business.
The business is much stronger now too.
Hopefully it starts a lot more M&A in the sector. I think it’s a year or two away.
I know several of us here are hoping at some point for KMR to be taken out by a bigger fish however today's announcement regarding SHG is a warning be careful what you wish for.
A cash offer has been accepted and recommend by the board at a price is about 32% above the last six months average price and 6% above the current price.
As per usual it's small shareholders who are being shafted again, as they feel the true value of the company is north of the current share price.
That is what is in the back of my mind, I always consider it is a possibility due to having seen this happen before.
If something along those lines happened here I for one would be very disappointed, of course it's possible our board you never recommend a sale on the cheap with a falling share price would they?
Most likely traders checking price before a trade.
Very few buyers or sellers but I simply shows how few buyers and sellers there are.
In my opinion the SP will very quickly revisit historical highs in advance of the Q4 trading update and dividend announcement in January.
It has history of peaking in Q1, so hopefully it does and we can reach £5 per share. But who knows. Time will tell.
Ridiculous market at the moment, who buys 1 share, what is that about?
The market is moving 3.43% on ridiculously small volume. It could easily move higher very quickly on positive news.
To be honest, it’s pretty boring and needs something to show that the company has made progress.
Broker note out today.
Upgrade
Kenmare Resources: Capital projects update – WCP A move sanctioned by Board; capex estimate upped
Kenmare Resources Plc (KMR:LON) | 386 -29 (-1.9%) | Mkt Cap: 344.9m
Hannam & Partners
Roger Bell
6 pages
Kenmare Resources (“KMR”) has provided an update on its capital projects, including the transition of Wet Concentrator Plant A (“WCP A”) to the Nataka ore zone, expected to complete by 2026. KMR’s Board has now approved the construction of a new de-sliming circuit and tailings storage facility (“TSF”) required once operations move to Nataka. With a definitive feasibility study (“DFS”) still underway on remaining infrastructure items, the total estimated capex has been updated to US$316-331m,
I hope you are right about a positive update in January to hopefully halt this trend towards a three year low.
That’s another cargo ship leaving Moma over the weekend. Hopefully another full load shipped.
Trading update early January should be positive.
Topping up under £4
Great news
Only that pricing in Q12024 will be lower than 2023, although given rates falling, assume growth returns, and demand will start to rise again. Also China seems to be supporting residential housing so another positive.
The delay in FID is not positive but also not negative.
My view was that the timing of the RNS was unfortunate and that the wording, as seems to be normal, was very dull and negatively worded. Possibly just the tone but clearly the reaction was negative with potential sellers committing to sell.
The recovery is positive and, for me, is a positive sign at this time of year.
Yes, I understand the cargo ships are there to be filled and my thinking is the ships are there to leave before year end therefore will be included in year end figures as revenue cut off is when it leaves the port.
Personally con I couldn't see bad news in the report yesterday 14th
We already been told in the 3qtr report the target dividend payment would be 50million USD which is down from 52 million from 2022 but that was dividend by 95million shares where this year's 50million is dividend by 89.3million which about a 3rd was paid in October all this we already knew prices have come down from there peaks but have stabled over the last 3 months so of course prices
We be down in 2024 but in truth not as far as what was expected
new dredgers be added to the mine has we speak so can see a increase in mining in 2024 which also will reduce mining cost and increase production.
The bad news for me was I tried buying 10000 at373 yesterday but had problem crediting my account would had sold this today and made a quick£ 2000 profit but what did I not see what was not expected? Great business with a good yield