Kenmare Resources (CDI) (KMR)

Sector:

Mining

Index:

FTSE Small Cap

384.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 436.00
  • 52 Week Low: 275.00
  • Currency: UK Pounds
  • Shares Issued: 89.23m
  • Volume: 61,618
  • Market Cap: £342.64m
  • RiskGrade: 183

Kenmare agrees $150m in new debt facilities

By Josh White

Date: Wednesday 11 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Titanium minerals and zircon producer Kenmare Resources announced the signing of debt facilities with Absa Bank, the Emerging Africa Infrastructure Fund, Nedbank, Rand Merchant Bank and Standard Bank Group on Wednesday, with Rothschild acting as its financial adviser.
The London-listed firm said the new debt facilities comprised a $110m term loan facility and a $40m revolving credit facility.

It said they would be used in part to repay in full the existing senior and subordinated project loans, of which $64m was outstanding, and for working capital purposes.

The new debt facilities also provided for a future mine closure guarantee facility of up to $40m, sharing in security.

"The new facilities will support the continued growth of our business as well as extending the maturity profile of our debt beyond the current short period of increased capital expenditure," said Kenmare's finance director Tony McCluskey.

"It is also particularly pleasing to replace the existing project loans with much more flexible corporate facilities, underlining the company's progress into a leading global mineral sands producer."

McCluskey said the firm's planned increase in production volumes by more than 20% from 2021 would enable it to expand its product margins and position it in the first quartile of the industry revenue to cost curve, as well as to deliver increased cash flow stability.

"The original debt facilities were provided on terms that supported the building of the Moma Mine.

"However, given the strength of core cash flows being generated by the Moma Mine, the facilities provided by the new lender group, which includes both new and existing lenders, provide additional financial flexibility and are more suitable for Kenmare's position as an established producer."

At 1306 GMT, shares in Kenmare Resources were up 1.36% at 223p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KMR Market Data

Currency UK Pounds
Share Price 384.00p
Change Today 2.00p
% Change 0.52 %
52 Week High 436.00
52 Week Low 275.00
Volume 61,618
Shares Issued 89.23m
Market Cap £342.64m
RiskGrade 183

KMR Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.09% above the market average34.09% above the market average34.09% above the market average34.09% above the market average34.09% above the market average
96.83% above the sector average96.83% above the sector average96.83% above the sector average96.83% above the sector average96.83% above the sector average
Price Trend
86.30% above the market average86.30% above the market average86.30% above the market average86.30% above the market average86.30% above the market average
44.36% above the sector average44.36% above the sector average44.36% above the sector average44.36% above the sector average44.36% above the sector average
Income
7.12% above the market average7.12% above the market average7.12% above the market average7.12% above the market average7.12% above the market average
52.38% above the sector average52.38% above the sector average52.38% above the sector average52.38% above the sector average52.38% above the sector average
Growth
82.75% above the market average82.75% above the market average82.75% above the market average82.75% above the market average82.75% above the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

KMR Dividends

  Latest Previous
  Final Interim
Ex-Div 08-May-25 19-Sep-24
Paid 30-May-25 11-Oct-24
Amount 17.00¢ 15.00¢

Trades for 30-May-2025

Time Volume / Share Price
16:35 14,508 @ 384.00p
16:35 1,086 @ 384.00p
16:35 157 @ 384.00p
16:35 280 @ 384.00p
16:35 290 @ 384.00p

KMR Key Personnel

CFO James McCullough

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