Member Info for raxfactor

Nice article regarding EVs basically the subsidies applied to these vehicles stopped worldwide on Jan 1st, in the US, China and EU what happened to sales when the free market applied to them?
They halved, so longer will society allow the generally better off buy more expensive vehicles at a discount, until I suppose they realise they can't let the market collapse as badly as it has and reintroduce the subsidies in the future.

https://www.ajot.com/news/ev-sales-collapse-as-subsidies-and-tax-credits-come-to-an-abrupt-halt

I see the company put out an operational update detailing the incident on their website it's pity that the RNS has not found its way here on lse, further updates to follow in due course.
Sometimes acts of God happen and there is not a lot you can do to mitigate the incident, only rectify the damage done.

Interesting Ken are you hinting that we should trade it, sell on the expected high and buy back when it's lost a quid lol.

Interesting Ken are you hinting that we should trade it, sell on the expected high and buy back when it's lost a quid lol.

Production guidance is between 11k-13k bbls/day plus Montara, Production from the Montara Project averaged 7,509 bbls/d during H1 2022.
So I would assume 20k is achievable, more especially if there are additional acquisitions which is likely.

Cracking set of results delivered today remarkable that they are now cash positive from memory $300m + net debt previously, the deal is not dead in the water as was a possibility, plenty of drilling has gone on, the pipeline for more secure transfer of oil the good news goes on and on and I haven't even mentioned the special divi.
It's been a while coming, these results should attract the wider market to what's on offer here.

I might add I am of the Eric Nuttall persuasion, US shale filled a big void and that is in decline now compared to what it was, lockdown reduced usage and China being offline and below capacity has also skewed demand.
We can't forecast the future so it pays to be cautious, I believe when central banks raise rates it can take months before that turns into a recession and shows up in the data.
Good luck to all invested here I am not heavily invested here but I do have a stake looking to add on weakness.

Released their half year results with record first half year sales compared to H122 with sustained demand for all products resulting in 32% increase in price of product sold.
Some price moderation since the new year rutile still high however ilmenite and zircon down from recent highs.
So it all bodes well for our short coming update on the 22nd March.

I don't have an agenda, it's an alternative view to what is a fantastic update today and for the sp to be up only 5% is disappointing.
As for my views which are relevant to all shares and markets watch portfolio matters monthly update for February it's only ten minutes or so.
https://youtu.be/SdIOZHGdrPQ

Another good update mine life extension looking very likely, the news flow over the last 12 months has been flawless operationally and financially it couldn't have gone much better, the refinancing opens up opportunities with more cash to play with it will be interesting to see how and on what they spend it on.

Although today's news is disappointing the important news came earlier this month being the General Direction issued by NOPSEMA was closed.
They must of been on tight schedule to get all the work done and in their defence who expects bad weather in an Australia summer, so they can't be far off the restart of production maybe a couple weeks which is a complete guess however as stated some of the work has started so it isn't down to technical difficulties purely weather a set back but it is temporary.

I will come up will an alternative view based on the coming recession which is forecast either side of the Atlantic, interest rates are going to continue to rise this year which in turn will crash economic growth, companies will have reduced output and profits and this is what will impact us here, deliberate demand destruction.
Even though production will increase prices for oil and gas will likely fall, the stock market will also likely fall and like all ships on tide on high tide they fall when it subsides, we will fall with it, unlikely to buck the trend.
We are at the mercy of the central bank's and how much damage they are prepared do to bring inflation back to their target of 2% this is the defining feature governing what goes on here.
So with weakening demand projected drilling could be stretched out into the future impacting predicted production growth.

Considering the world we live in today a great update from Slp cash balance at $123.9m, net profit increased, increased production guidance quoted for 2023, capital projects ongoing at Tweefontein and MF2 with back up power now being introduced to mitigate power outages.
Interim divi introduced for the first time, plus over 1m shares repurchased and cancelled, the only downer being the decline in the basket price but that is being mitigated slightly by higher production.
The company is in great shape both operationally and financially.

After yesterday's news this keeps the momentum of better news flowing nicely, although working interest is small 9.5% there is a possibility to increase as others may be willing to sell, the 27% interest in the undeveloped discovery who knows were that could lead, all-in all a very good bolt on acquisition.

Pleased to see the company has gone above and beyond on the repairs by bringing forward the planned maintenance and including that in the repair schedule now it's down to the authorities which if the third party assessor has passed off the repairs should be a formality but you never know until they officially give the green light to restart production.
Good to see the market reaction today.

Fair comment from a broker's note today
Kenmare Resources (“KMR”) has announced solid Q4 production despite an expected drop in finished product output due to unplanned power outages impacting Moma from November to mid-December. Nonetheless, HMC production was still 404kt, a 17% increase from Q4’21. Production and shipments over 2022 have been impeded on several unforeseeable aspects including bad weather in Q1, slimes in Q2, and now the power outages in Q4. However, these challenges were mitigated by higher recoveries, grades.

Must admit I didn't think they would be cash positive at the end of q4 , so that's a plus, $255m to find for the wcp move in 2025 all depends on prices going forwards, and the effect of the coming predicted recession hopefully China opening up will counterbalance the negatives.

Gold approaching $1900 we put out an excellent update confirming what a transformational year this has been and we are down 4.5% sometimes markets are irrational today is one such day, well done to anyone who has taken advantage of the move today which by logic should of been in the other direction.

Gold approaching $1900 we put out an excellent update confirming what a transformational year this has been and we are down 4.5% sometimes markets are irrational today is one such day, well done to anyone who has taken advantage of the move today which by logic should of been in the other direction.

Nice to see us ticking back up after our recent lows, perhaps the market is expecting some news in the near future beit the green light to enable the restart of production or a further bolt on acquisition, either would be a nice boost to the New Year.

Happy New Year to all followers of KMR hopefully a trouble free 12 months in all aspects of life and a prosperous one for us here.