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Have bust into the 12 range. News is optimistic for 2018 and 2019. KMR are showing a bit of upward movement. The realisation has to be building within some sectors that this dog is very undervalued. What MC is doing over in Dublin - God knows, but he should be tramping the streets of the City - knocking on every door and shouting about 'zircon gold in them thar hills'!
Volumes aren't there to support that theory. If the volumes were consistently at Wednesdays level, then possibly Yes but they aren't. As far as I recall there's over 100m shares in KMR and thus even on Wednesdays trading, less than 1% was traded. Nowt to get too excited about. However there's got to be some competitors, customers looking at the low KMR valuation at the mo. It is ridiculous, and probably a result of an unconvincing senior management.
Theres summat funny going on here. The minute it starts to regain some ground the automatic trades of 5k and 6k shares come in. Some poor bugger approx 90 mins ago bought 50k shares and if he sells now he's lost �3k. Its all very f....ing peculiar, if you ask me!
Well the longer they wait, the higher the price. Reports and tightness in the market point to continued price rises. And so best get on with it before the cycle turns, or even more Great Whites start circling.
Afraid to have to say there are none obvious. Iluka have just forged ahead again on the basis of Rio's probs in RSA. Yet KMR right beside them decrease in price. Its hard to understand how incompetent their key people are at selling this improved business to investors. Base are talking significant zircon price rises and as Ive said before KMR always seem to lag. KMR are good at banal excuses and pay themselves well so I always tend to arrive at the conclusion, they don't give a f... about the sp. Lots of share options for nought have come their way so f... it, its a windfall for them if the sp comes good. If you have time, possibly wait. But make sure you're out before this mother turns cos once this cycle is over, and management remains unchanged KMR will trudge along at the bottom forever.
I retract this message. Describing illiquidity as a cheap lie is too strong. MC & the board may actually believe it! Apart from that buying volumes are low. So the good news is not registering anywhere of interest & some significant sells have gone through.
Whist Im doing a spot of posting this morn, I thought I might point out that the other week 1.5m shares were sold and yet today the KMR activity is 1500 shares sold and 1000 shares bought. Thus this illiquid bo..ox is a cheap lie propagated by no less than MC. The truth is that the board and MC are unable to convince anybody in the City to take a punt despite improving figures. Top team changes required asap.
Zircon CIF China, min 65.5% ZrO2 bulk shipments Premium $1350-1550 Standard $1310-1500 FOB Australia, min 65.5% ZrO2, bulk shipments Premium $1300-1500 Ilmenite Ilmenite concentrate, 47-49% TiO2, CIF China, $/tonne $185-200 Please note that these figures pertain to lower ilmenite concentrations in 2018 than 2017
Ilmenite J17 -$140-180 C&F China 54%CON A17- $200-230 J17-$190-200 O17-$190-225 J18-$175-200 (47-49%) Zircon J17-$1000-1100C&F China 65.5% from low std to high prem A17 -$1000-1100 J17-$1000-1100 O17-$1000-1310 J18-$1250-1450
HMS producers. Internal Chinese prices are too difficult to break down. Pricing is different province to province. Ind Mins generally gives the leading company prices and we only find out in financial reports that KMR pricing was well below. They seem to have been and probably may still be under selling their product. New outages are another concern.
' What matters most is that our pricing environment is now healthy, our unit costs are low and Q1 sales are up in both volume and price on this time last year. That should set the trend for the year' If this was 100% accurate, then Yes things look healthy. However KMR have a history of the 'busy fool' syndrome, worrying about shifting volume at any price. Their prices always lag the market prices. Now with Rio & poss Tronox encountering problems in RSA they probably will have booked up all production and missed an opportunity. In addition with continuing outages in Q1, can we be sure about 'low cost' and the overall trend for the year? Am afraid with KMR, every silver lining has a dark & troublesome cloud lurking behind it. Investors seem to think similarly.
Maybe as a result of the IC recommendation, punters are buying today! Doesn't seem to be too many illiquidity issues for buying. Lazy excuses are cheap. Major issues in RSA supplying minerals may have a turbo effect on KMR sp but then somebody should start to highlight it, Mikey!