Member Info for Manlord

Https://www.irishtimes.com/business/2023/08/15/kenmare-resources-says-production-stringer-in-second-half/

Again, far smarter people than me might need to do the assessment of potential values but we are still a few steps away from being able to do this however this is the LT plan in a general sense.

Millions & millions of real turnover & profits.

ML

The strong prices that sent sales soaring at titanium miner Kenmare Resources in 2021 have continued into this year, company managing director, Michael Carvill, says.

Kenmare’s revenues jumped 87 per cent to $455.9 million (€413.5m) last year on the back of record production volumes and higher average prices. Profit after tax rose almost eightfold to $128.5 million in 2021 from $16.7 million the previous year.

The company announced a record annual heavy mineral concentrate production of 1.5 million tonnes, 30 per cent more than in 2020. Ilmenite production increased by 48 per cent to 1.1 million tonnes, benefiting from increased heavy mineral concentrate processed.

The company said it had a net debt position of $82.8 million in 2021 compared to $64 million in 2020.

There’s money (real money) to be made in Empire. THIS IS JUST THE START!

ML

Kenmare Resources broke an unusual record in 2020. The Irish titanium miner group moved an entire factory 22km from one part of its ore body in Mozambique, Africa, to another site.

“That was the heaviest mass ever lifted in Africa and the largest mass that has ever been transported that distance by road anywhere in the world,” its chief executive, Michael Carvill says proudly.

“And we had to build the road ourselves, through nothing, through bush. Nobody has done this ever before. Basically putting a factory on flatbed trucks, wide as a football pitch, seven storeys high, it took 48 hours. It took two years’ work and $127million capital expenditure.”

The move paid off. Kenmare’s Moma mine produced 1.55 million tonnes of ore last year, up from 800,000 in 2020, breaking its own record. Revenue hit a record $456 million last year from $243.7 million in 2020

Pretax profits increased to $137.3 million from $22.8 million. Investors should benefit, too. The company will pay them total dividends of 32.7 cent a share, or $32.1 million for 2021, more than three times the 10c it paid for the previous year. It returned $81.6 million through a share buyback scheme in December.

Kenmare have just over 2% grade as far as I can see.

Should bode well for Empire at 4% to 5% with higher grades also intercepted. Maybe Ageos could offer a slightly more detailed view.

ML

Was in communication with SB an hour ago. Now I know people will say ‘that’s no real help to us’ but of course I always try to honour our private discussions by keeping them that way. I’m sure you understand.

He is seeing an increase in Empires market awareness and that’s assisting the support of Empire. The presentations in Oz & Uk have gone down very well.

Mcap position was highlighted and again whilst good to see, he is “FULLY FOCUSED ON ACHIEVING A MUCH HIGHER TARGET FOR EMPIRE & THIS IS ONLY THE FIRST STEP” 📈

Now I know we can’t quantify the value of Pitfield yet and it will take time to define & confirm exactly but it’s like this guys, we don’t know the weight of the oceans either but we absolutely know it’s a monumental figure. The oceans aren’t going anywhere and Pitfield is exactly the same. This analogy is my own words but you get the idea.

I can’t really convey my level of comfort here as a relatively big shareholder (circa 1% holding) but I have no doubts that this 5p marker is the bottom of a very steep upward curve. On a personal note, whilst hitting 30p (for example purposes only) would offer me huge gains I do now believe that a longer hold could create generational wealth. As most know I’m here 8.5 years (checked exact dates on my broker platform this morning) so holding for another 2-3 or more years isn’t an issue for me. The hard work was done buying for years on the down days, now should be the easy times in comparison.

To be clear; my personal communications are general topics of discussion and at no point has SB discussed anything additional to what’s public via interviews / presentations / investor relations via Empire website.

I don’t ask & he doesn’t say anything else which is why these calls / emails work & have done since he joined the company. I find him very pleasant, accommodating but above all, he holds himself & the company to the highest standards of integrity.

ML

As a side note, the 25p per share in 2017 was based on 115m shares in circulation at the time = £28.6m Mcap.

5.6p close with 567m shares = £31.7m Mcap

Make no mistake, today’s close SP is a huge achievement & sets an all time high Mcap for this company. (NMG / GEO / EEE) & it hasn’t even gathered pace yet. Watch this snowball into 2024.

Well done SB & Co.

ML

Hola Amigos!

Luciendo bien.

No querría estar fuera de esto durante el fin de semana :-)

ML

Redhammy you must be new to this game to make the statement below.

“It matters not a jot what price the placing shares are set at!”

Christ that’s utterly ridiculous & if you genuinely believe this, you shouldn’t be investing let alone giving advice to anybody on this board.

It’s people like you who have led new investors to financial ruin year after year on AIM. Thankfully most can spot someone who hasn’t a clue what they are talking about.

ML

SB was presenting at the Global Mining Finance Autumn Conference 2023 this morning. Images in previous post.

Back to relaxing……….

ML

Https://i.imgur.com/d02RF6t.jpg

https://i.imgur.com/qE0zJtv.jpg

https://i.imgur.com/vvaS7wN.jpg

SB is a busy this week & next.

ML

Hope all is ok Bankrupty!

I see you sold out on 3 shares today saying the same goodbye which so do hope was not because of forced reasons.

Good luck to you Sir & all the best with whatever your next endeavours are.

ML

Might I suggest you pay a little more attention next time you attend a shareholder / investor night 4K!

Bring a notepad too as your update was lacking in detail and was very light on opinion.

Anyway, you'll know for next time I suppose.

ML

Great update 4K and many thanks for taking the time to share your thoughts on last night :-)

Couple of positive updates received over on ADVFN

Ml

The time is now Genghis!

Sorry, the time is 2024!

https://ibb.co/Jn227ng

ML

Gentleman Ageos.

To be honest, no panic on a reply but it would be great to get your thoughts when you have had time to assess today’s news.

Have you seen SB’s interview?

Might add some clarity to your own RNS review.

Thanks

ML

Https://www.proactiveinvestors.co.uk/companies/news/941115/empire-metals-pitfield-project-in-wa-has-all-the-hallmarks-of-a-giant-copper-titanium-mineral-system-941115.html

ML

Hello Ageos?

Can you hear me?

Calling Ageos? Do you receive?

ML

Very good Kongalasse ;-)

Everything is for sale at the right price.

ML

Well there’s the RNS as expected.

Now to put this simply, if you’re in with a decent amount then please ignore all distractions and sell NOTHING!

If you’re getting in, get in at any price between here and 10p. Take some time to think about it if you need to. WHEN this is 30p+ you’ll not care if your avg is 5,6,7 or 10p.

350m x 30km (for a start) is not going anywhere. We have found it!!!!!! Well done to all who have been involved.

I’ll leave this post with a comment from the CEO

‘We have discovered a primary titanium asset of perhaps unparalleled size and scale’

Enjoy guys - this time next year we WILL be millionaires ;-)

ML

ALAW ;-)

ML

Hi O&G

Well I’ll wish you well recouping some losses via Empire.

I also remember sitting on paper losses, in fact I was down 90% on EEE at one stage but thankfully kept ploughing in on red days, month after month, year after year for 7 years.

Jesus when I look back I sometimes wonder how I did it :-)

Anyway - losses & gains are a singular point in time and a buy in price & subsequent performance are only ever relevant, or at least success measured when you press the sell button.

My buys looked foolish for years, now those buy look fantastic, who knows what todays moment in time SP will be in let’s say, 365 moons time!

Let’s hope you have covered losses, I’m still in profit & those soon to be involved have all been rewarded handsomely.

I’m on a whistle stop trip to Elland Road with my son to see the mighty Leeds Utd so enjoy your weekends all. I’ll pop in when I can and will look forward to seeing the red dot of news.

ML