Kenmare Resources PLC

Kenmare Resources PLC (LSE: KMR) is an FTSE All Share listed producer of mineral sand products. The Company operates the Moma Titanium Minerals Mine in Mozambique. The Company supplies to customers operating in more than 15 countries. The Company’s products are consumed in items, such as paints, plastics and ceramic tiles.

Q1 FY23 Production Report (released on 12 April 2023)

• Decline in Production: The company reported a decline of 18% in the production of HMC (Heavy Mineral Concentrate) to 315,000 in Q1 FY23 against 384,700 tonnes in pcp, due to the lightning strike and lower recoveries. Also, the iIlmenite production fell by 20% to 204,300 tonnes in Q1 FY23 versus 256,800 tonnes in pcp.
• Improved Shipments: The total shipments of the finished products increased by 17% to 271,700 tonnes versus 231,500 tonnes in Q1 FY22, driven by an increase in the shipment capacity and availability of ocean shipping vessels and containers.
• Outlook: The management stated that the demand for ilmenite stabilized in Q1 FY23 which supported the prices in recent weeks Further, the production guidance across all the products along with ilmenite and rutile are estimated to be at the lower end range o the stated guidance.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Kenmare Resources PLC (LSE: KMR) was trading at the closing market price at GBX 434.50 (as of 13 June 2023).  

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 13 June 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.’

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