Kenmare

Big move ends successfully

  • Sectors : Resource
  • Companies : Kenmare

Ratings and price correct at time of issue.

  • Kenmare

    Closing Price: 235.0p

  • RATING 03/08/16

  • PREVIOUS RATING 07/12/15

    UNDER REVIEW

DAVY VIEW

The news that wet concentrator plant (WCP) B was successfully relocated is very good for Kenmare. It has completed a complex project in a remote location (Mozambique) during a difficult COVID-impacted time. The move sets the baseline to achieve targeted production of ilmenite at 1.2m tonnes per annum. In turn, this will improve operating metrics, financial performance and shareholder returns through both dividends and a higher group valuation.

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Sep 28 2020, 07:10 IST/BST

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