Kenmare

Positive DFS signals approval for move to new mining zone

  • Sectors : Resource
  • Companies : Kenmare

Ratings and price correct at time of issue.

  • Kenmare

    Closing Price: 196.0p

  • RATING 03/08/16

  • PREVIOUS RATING 07/12/15

    UNDER REVIEW

DAVY VIEW

While well flagged already, the positive outcome of the definitive feasibility study (DFS), examining the move of wet concentrator plant (WCP) B to a new mining zone at Pilivili, should be welcomed. The new zone will provide a stream of high grade, easily mined material over a period of eight years. This should ensure optimal output of 1.2m tonnes of ilmenite per annum and reduce operating cost per tonne to the $120-130 range. Overall, the news further underpins the progress the group has made over the last three years and our ‘Outperform’ rating.

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Jun 4 2019, 08:40 IST/BST

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