Jan 21 2026
Resources
Recent Research
Kenmare, Update on WCP A and 2025 guidance
Dec 17 2025
Kenmare, Updated production guidance
Nov 18 2025
Kenmare, Q3 production report
Oct 15 2025
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Kenmare
Q4 production report and 2026 guidance
Q4 2025 production is in line with recently revised guidance. Softness in pricing leads to non cash impairments. Guidance for 2026 is to prioritise value over volume leading to lower opex....
Kenmare
Update on WCP A and 2025 guidance
Kenmare has issued a statement providing an update on the upgrade of its Wet Concentrator Plant A (WCP A). Operating performance has improved and further measures are being taken...
Kenmare
Updated production guidance
Kenmare has issued a statement providing an update on its WCP A upgrade project and is updating its guidance for FY2025. The commissioning of WCP A is advancing and should be...
Kenmare
New forecasts with more conservative assumptions
We have published new forecasts on Kenmare. Due to macro trends, we assume lower price forecasts in 2026 onwards than indicated following the Q3 production report. Our price...
Kenmare
Q3 production report
Kenmare’s Q3 report indicates that WCP A is now ramping up following upgrade works. There has been a slight impact on FY2025 production guidance, while guidance on costs and capex is...
Kenmare
Updating forecasts and revisiting our NPV
We update our forecasts following previous compliance restrictions. We lower our price forecasts to reflect the impact of modest new industry supply, reduce our shipment forecasts and...
Kenmare
H1 results are in line with expectations
Kenmare’s interim results are in line with our forecasts. Production and shipments data were already published. FY2025 production and cost guidance has been maintained as well as total...
Kenmare
Q2 production report
Kenmare’s Q2 production report reaffirms full year guidance on production and costs. Ilmenite pricing was stable in Q2. The company is adopting a more cautious approach to the shape...
Tullow Oil
Trading statement and operating update
Tullow’s trading statement reflects results for 2024 that are broadly in line with our forecasts. Guidance for production and free cashflow in 2025 is below our forecast and the...
Kenmare
Q4 2024 production report
Kenmare’s production in Q4 was above our forecasts, driven by strong ore grades. Guidance for 2025 production is in line with our forecasts. Capex remains on budget and on schedule....
