DAVY VIEW

An operational update by Kenmare reports that after its successful move to the new zone at Pilivili, the B plant has settled in well and is producing heavy mineral concentrate (HMC) in line with expectations. Grid power will be available shortly and the pumping system is on schedule to be in place in Q1 next year. Overall, the move, start-up and ramp-up have gone as well as can be expected. This is positive and encouraging news for shareholders.