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Quite so N_I.. Another way to say the same thing is the change in dev costs from '18 USD 20M to '19 USD 70M, more of less equal the USD 48M of increase in net cash in '18.
However, in '19 production will moderate a few % vs '18 but as product prices rose by 18% during '18, the current year will have a much higher starting point which will more than compensate. Some further net cash will be generated which will more than cover the maiden dividend.
No doubt same will apply in '20 when dev costs increase further to USD 80M but in that year projected that production will be higher and a growing supply deficit to further support selling prices.
The NPV will be rising considerably more than the net cash and 150p put forward by our learned friend Skid will be a little off the mark.
ha ha - yes I will... and facing facts, the SP is 185 but beyond that... what crisis...... ?
Hur. Kenneth passed and in absence of any RNS, no news is good news. Base's recent update referred to coming ilmenite deficit, recent fall in Indian / Vietnamese supply and even Base have reduced output by 20% as their Central dune comes to an end, grade in remaining areas falls, they move to their lower grade South dune deposit and tread water until their Mad. project is up and running in 2021....... decent blocks of shares are trading hands and then what after that is all cleared? Is this all being done to be pre-AGM 14 May?? I'm happy to keep purchasing as nothing has changed and the overall picture / trend remains positive.
Skid, think you may have a long wait to reach 150, plus when I look back in a couple of years enjoying a divi on 60% payout of NP on 20% higher production, I will probably reflect that a few bumps and troughs in between were pretty immaterial in the grand scheme of things.
Purchase No 71 today - accumulated another 4k.
Well, 25k were me accumulating a few more. Happy to do so under £2 with the 8p p.a. divi round the corner. Down 9p today as yesterday's closing was artificially high. Truth is a drift down of a few p over the week. Looking at the pick-up in number of trades in last few days, looks like something may be a-stirring. Let's see. For now, think we should all be thankful that Idai went South and Kenneth went North and KMR sat happily in between.
Some power outages in the affected areas but still happily supplying SA so it appear principal grid holding up.
https://www.ecr.co.za/news/news/eskom-no-power-cuts-sa-now-after-cyclone-kenneth/
Latest from BBC... https://www.bbc.com/news/world-africa-48039274
Once Kenneth hits land, predicted to stay in position dumping rain for 5 days - total 1m rain forecast (!!).
Storm is hitting Pemba to the North so no direct damage to Moma.
However, power supply comes from the North and heavy rain / landslides predicted in the mountains, so let's see...
https://edition.cnn.com/videos/weather/2019/04/24/tropical-cyclone-kenneth-forecast-track-mozambique.cnn
Looks pretty good.
Production - guidance is for a slight fall during the year but these quarterly figures are slightly ahead of '18 figures on annualised basis.
Fall in shipping as expected but will rebound.
Market outlook positive.
As we all assumed a week or so back, Euro 250,000 to be repaid to KMR. Some legal costs to be paid.
https://amp.irishexaminer.com/breakingnews/ireland/former-kenmare-resources-exec-donal-kinsella-to-repay-250000-in-10m-libel-case-912392.html
As referred to by BTB.... shipments resumed 15 Mar.
https://ir.q4europe.com/Solutions/Kenmare2018tf/3908/newsArticle.aspx?storyid=14254313