Member Info for Caposoka

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

Agree.

H1 results at end of August, to be paid in October.

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

Could add that past problems are all water under the bridge but under current circumstances probably best not to.

Think many would agree with you Nosir. Looking at the extent of damage, KMR's help may only be a drop in the ocean but sure it will be well received.

As referred to by BTB.... shipments resumed 15 Mar.

https://ir.q4europe.com/Solutions/Kenmare2018tf/3908/newsArticle.aspx?storyid=14254313

of 400p up from 380p.

Not life changing but at least upwards.

Between 25-40 seconds of this clip https://www.youtube.com/watch?v=DpfdsIC7Im8 it shows the projected cyclone path. Appears that Idai will pass between Moma and Madagascar and then make landfall south of Moma at Beira on Thurs / Friday.

In short, KMR should be ok other than disruption to shipping. Elsewhere 23 already dead, 100mm rain predicted.

With the Aug debt repayment, the senior debt will be fully repaid and only the sub-ordinated debt with ABSA, EIB, EAIF and FMO will remain. Don't know the details but instinctively you would think the smaller group of lenders would make it easier to put in place different funding arrangements such as a debt facility - something more flexible and allowing cash to offset debt - saving interest. No action yet but the fact it was mentioned today shows it is up for review / consideration.

Nosir, being watching football so only just seen question about cash sweep, now about 20 odd posts back... Simple answer is I don't know. However think it is safe to assume they are stockpiling cash due to size of capital expenditure in next two years which will eat up most (not all) of cash generated after debt repayments and dividends are made. They could repay debt quicker but safer not to. As discussed during presentation today there is a major cyclone presently offshore Mozamique and all it would take is for something like that to knock out power lines for a few weeks to throw a spanner in all these cash forecasts. After all, revenue is now USD 5M / week.

That said, KMR stated today (for the first time as far as I am concerned although, maybe not for others), that they are now reconsidering the current loans situation. These were advanced as part of project start-up and the convenants and structure are no longer commenserate with KMR's current position as a profitable, cash generative, established operation. A different more conventional debt structure with different convenants may be more flexible and suitable for KMR's future needs. KMR stated it was under consideration, being monitored but no actions had been taken to date.

Safely in the Top 50 but invested in 70+ other companies to spread the risk.

BTB is correct - they are good results and a part of today's presentation / conference call was dedicated to explaining the draw down in inventories and emerging supply deficit due to closure of illlegal operations in India and uneconomic mining in Vietnam and need for higher prices to support new projects. KMR appears well positioned for all of this so would not be surprised if a TO approach came..... but how much would they need to pay.... KMR remains as ever a long term play, rewarding patience.

50.9M NP will equate to approx 7p p.a. dividend (@20% level). A couple of months back we estimated ~8p. H2 NP similar to H1 so think pretty much in line with expectations.

Revenue 262M
EBITDA 93.3M
Net Profit 50.9M

https://ir.q4europe.com/Solutions/Kenmare2018tf/3908/newsArticle.aspx?storyid=14246225

Skid, you are no doubt right. Although I haven't quite got there yet, after 70+ purchases, at least I can say I'm trying my best to match those guys. I knew buying a few thousand more at 205 today was an error when buying them, and so it proved within only a few hours but hope and greed springs eternal.....I don't think I was the only one in thinking things would have moved on quicker after the OO and we may all see the mirage for a wee while yet as there appears little excitement in adv of tomorrow but ultimately the 20% and then the 60% payout will have an effect. I'm not encouraging others to follow but I'm happy with where I'm at.

... accumulated a few more. Could of purchased much cheaper yesterday but greed got the better of me and paid over the odds today. Could be mini-spiked or alternatvely in at the footlands... let's see tomorrow...

You would have to think they would have access to numbers of individual accounts held within nominee accounts, otherwise the profile would be meaningless. That said, as an individual I have effective holdings in separate accounts with different family members so they would not be able to recognise that multiple shareholders were effectively the same. The profile will never be 100%.

For that reason, interesting to look at it as it stands. I is enough for our us mere mortals. Also interesting to see the change from year to year - number of shareholders is falling (5,632 to 5,322 to 5,191 for 2015 to 2017), the % held at the top and at the very bottom is falling, with increases in the central spread.

The number of existing shareholders who held through the restructuring do indeed hold a tiny fraction in % terms but as 4,756 shareholders hold less than 1.000 shares these bombed out inverstors form the vast number of shareholders in absolute terms, with only a few hundred active investors and little general interest (at present).