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What Trumps says and what he will do are two different things, I assume if he is going for increased oil and gas production that means shake where the best plays have already been drilled plus there is limited growth left in the shake patch as a whole, then we have the problem that last time wall street backed the drilling campaigns and lost a shed load of money, the landscape has changed the companies are not so gung-ho as they were now shareholders want return and that means not a race to the bottom.

The folks who wanted PB gone don't seem to be posting, anyway they got what they wanted, the fact remains he is a well respected figure in the oil and gas industry and his reputation has been damaged ironically for something he didn't have experience in, and imo bad luck the oil leak was minimal and rapidly contained plus maintenance schedules hampered by lockdown protocols.

Well PB has gone and with it a wealth of contacts and experience yes he did make a disastrous decision over Montara but he was the main driver behind building the company up to the position it is today hope that he stays in some advisory role.

It should be noted Akatara is still not fully on line so still some snagging to be sorted out before hand over which is not surprising, good to see all the other parts of the business performing to or above expectations with no change to guidance.

Kenmare have been out and about giving presentations in Europe to spread the word and gain new investors. Below is link to their presentation slides.

https://eu.docworkspace.com/d/sIAjiw_Ms0qamugY?sa=601.1123

Update on Redbox One from linked in, moving to larger premises.

https://www.linkedin.com/posts/thomasgebauer_flowbatteries-tharisa-growth-activity-7265261629464862723-qJOA?utm_source=share&utm_medium=member_android

What nonsense we knew the state of play from last month's update and previous communication from the company, aisc down from $3.39 to $3.26/lb albeit higher than 2023 caused by inflation and lower grades. Net cash reduced due to two dividend payments and capex to expand the business.

Solar plant connected, Elix producing in September flags up down stream issues that require rectification.

When higher grades are mined again aisc should fall further, while the ore mined is well above 2023 which highlights the lower grade cu.

Plenty of growth opportunities going forward.

I see this transaction as a vote of confidence that Akatara is not suffering major unsolvable commissioning issues, handover coming soon, that overall JSE is in growth mode with all segments of the business operating within the expected performance levels.

Well that's my hopes after what has been a disappointing year.

By the way Phil Corbett is available at investor relations and will respond to your questions so rather than moaning on here try ing getting some feedback from him.

Some comments regarding Akatara are a joke, commissioning a project such as this would be a miracle if setbacks were not encountered, then the glitches have to sorted out, which could items failing under load, electrical and instrumentation issues valve failures for one reason or another, commissioning could and will take some time.

The expectation that this plant would operationally perfect from day one by some posters is laughable and obviously must be clerical in their jobs and never had experience of building anything from scratch and getting it to work.

Blakley deserves plenty of flack for the Montara mismanagement but as far as Akatara is concerned he is in the hands of the contractor who by reputation is one of the best in class.

I think the results are as expected and guided against previous statements, cu grades are expected to improve when mining returns to the bottom of the Cerro Colorado pit.

Plant processing shouldn't go unnoticed which is above nameplate capacity of 15m tonnes per annum.

The solar plant due for switch on at long last at the end of this month,with Elix commissioning progressing.

Cash positive after two dividends in the Qtr to the tune of €40m with Fy 2024 is expected to be within guidance albeit at the lower end.

Broker note out today

Kenmare Resources (“KMR”) will release its Q3 production update on 17th October 2024. KMR expects output to rise in H2 driven by higher forecast grades, and sales to be supported by improved weather, following the conclusion of the rainy reason. As such, we estimate heavy mineral concentrate (“HMC”) production in Q3 of 399kt (+17% QoQ), delivering final ilmenite output of 284kt (+19% QoQ). The drawdown of intermediate stockpiles in H2 should support production of zircon (H&Pe 14kt in Q3, +9% QoQ...

Won't halve? but that's more or less exactly what has happened over a two year period and as yet hasn't fully recovered.

They should however be building a bigger cash pile by lessening dividends so if they ever get round to making an acquisition the majority doesn't have to be all debt or new shares combination which it looks like it will be at present with a small portion cash.

Interesting 4m v 2m bought/sold trades today and we are down, has an entity bought in with stops being hit by m/m just to get shares rather than raising the bid to get sells just speculation on my part.

No news breaking that I can see, of late it been been volatile drops then regaining in the same day, longer term I think the market expects growth to slow which at present it isn't the case, Microsoft have increased their prices recently maybe a reaction to that filtering though.

Bullish Nigerian commentary on Sepl profitability and growth with ref to

September 27, 2024, Seplat revealed that Tierce Investments Ltd., a firm fully owned by Udo Udoma a former minister, had acquired 22,571 ordinary shares in the company.

https://nairametrics.com/2024/10/07/seplat-energy-reignites-gains-in-early-october-soars-over-20-amid-wave-of-positive-news/

Https://youtu.be/ktRrCy3QAbM?si=gJe_chGI_B82Rc6b

Roger explains what's going on.

Excellent information KS thanks for posting, looks like the poster over on the other site even though it's day job got his assumptions wrong, which backs up the reputation of contractor JSE sourced for this project being competent with excellent credentials.

I also take your point that designs similar to this have been done before however that doesn't mean the company who has designed/built this plant has done one similar or to the same spec.

It's not like you can buy one off the shelf, I would assume a design engineering company would of designed the plant and then all the bought out items put out for tender same with the construction.

That's what I would of thought although on the other site someone states this is their day job, this is not the case with fixed price contracts, however we don't know the small print which may have allowances.

But his reasoning is that due to the contract price corners have been cut perhaps inferior components used to maintain viability for the contractor.

Bottom line is the contractor has a good reputation let's see what happens on sustained operation but it seems there are other minor niggles at present all seem to be rectifiable.

Thanks guys for the presentation update, having read same over on the other site there are some concerns there mainly that the skids which all the kit is mounted on was built in China and their workmanship questioned, and the quality of components, however a lot of stuff is already ie components are manufactured in China anyway and exported.

Jse had reps on site while the build was ongoing, hopefully they ensured that all was being done to spec.

The fact this was a fixed price contract does flag issues of what can and does happens on a design build job like this is the winner can't make a profit due to design changes that can't be charged for, however the flip side is the cost of this project could of easily doubled on a pay as you go/milestones achieved or we need a design change for a certain area of the plant or if had been built anywhere else other than China.

The contractor incharge has a good reputation let's hope they live up to it.

Hopefully the issues with the plant will be sorted