Member Info for Greeno

passed quietly

Bought forward lots of repairs etc which is prudent
Best news
Kenmare has secured offtake agreements for the majority of its ilmenite production in 2020.

•At the end of Q1 2020, cash and cash equivalents were US$102.4 million and debt was US$111.4 million, resulting in net debt of US$9.0 million

Quite happy with this

prudent RNS - 5 quarters of ilmenite price rises encouraging - bought a few more this morning

Country - not KMR

Announced last night - Not full lockdown yet

Yep out time may come

Mineral Commodities (MRC) reported that its Tormin operations are subject to a 21-day lockdown from midnight 26 March 2020 until midnight 16 April 2020 and will be placed on care and maintenance. MRC has withdrawn its production guidance for 2020.
www.mineralcommodities.com
26 March 2020

Rio Tinto to half RBM mining
Rio Tinto announced that as a result of actions in South Africa to contain the spread of COVID-19, it will slow down some of its operations. At Richards Bay Minerals (RBM) in South Africa, all mining operations at RBM were halted by midnight on 26 March 2020 for 21 days. Furnaces will be put on care and maintenance. In Canada, Rio will work with the government to comply with its directive in relation to its Quebec operations.

Results
ilmenite price still rising so we will have a good Q1 - All eyes on COVID but China seems over the worst

Bought some sub £1.50
Surprised to end day up
Going to be volatile period

Don't know whether or when we get to £4.50
but I'm buying today at sub £2

The market price of imported titanium ore is high, and the price of raw materials is also rising. The price of kenmare titanium ore 50 is 260 USD/ton, and that of Kenya titanium ore is 225 USD/ton. Supply is tight, market quotation is high.

Are the boats still sailing buck?

And from iluka

Tom O’Leary: Okay. Thanks Rahul. Titanium first, look as you’ll have seen from the slide we put in the deck this time about take-or-pay contracts, the majority, some 70% for 2020, of our high-grade feedstock are now under longer-term contracts, which are commercial in confidence, and as such we won’t be providing pricing increase information for the first half at this stage. What we’ll do is provide realised pricing information at our disclosures at the end of the half.
But what I can say is that the high-grade feedstocks, as I’ve said earlier, remain tight and remain conducive to price increases for this half

We will get an update in 3 weeks
But below is from BSE

Chinese domestic ilmenite production was stable through the reporting period while production and exports from India and Vietnam remain significantly constrained. Indian government-imposed bans on mineral sands mining and exports (at both the national and state levels) remain in place and now appear likely to be permanent. Government-issued export quotas in Vietnam expired at the end of the 2018 calendar year and new quotas have not yet been forthcoming. These ilmenite supply constraints continue to support strengthening ilmenite prices.
Significant supply constraints on high grade feedstocks, combined with the ongoing firm demand, has resulted in continued price improvement for rutile.
To date, there has been no direct impact on the Company’s sales of ilmenite or rutile stemming from the COVID-19 outbreak. Ilmenite demand is much more exposed to the Chinese market than rutile, but, like zircon, the impact that COVID-19 will have on the Chinese economy and downstream demand in the coming months remains uncertain.

Ilmenite prices rising

To prelim results

IMO Covid wont be stopped so world learns to live with it - May prompt a recession. So what would that mean for KMR has us thinking?
Greenfield sites may now not progress - note Bluejay down 28% today and lots more over the year which potentially causes a price rise for ilmenite etc due to lack of supply
To counter that demand for paint etc could drop.
I believe KMR is now more resilient and could suspend some capex if needed
Not selling myself

https://baseresources.com.au/app/uploads/austocks/bse/2020_02_27_BSE_12692e55923eff4e3cbcd58f746f4e52.pdf

Iluka transcript also may be of interest

https://www.iluka.com/getattachment/24b6f5e7-ef56-4d91-8eb8-09bfad45b584/transcript-2019-full-year-results.aspx