Tommoo
21 Apr 2017
Re: Iluka Q1 Positive news !...the lifeblood of any share. Thank's Devon.
DevonianDracula
20 Apr 2017
Iluka Q1 Can be found under "Annoucements":[link] positive.Also, Davy update following RIO Q1:"Our assessment of Kenmare’s share price is that it has been left behind despite the clear and substantial improvement in its market. The stock provides a great investment opportunity." GLA
Old Ma Coni
13 Apr 2017
£ Party Several years ago when we were all going to be squilionaires by Tuesday Rodders, the £ Party was being planned. That looks to be the £100plus party now. Any chance ?
DevonianDracula
13 Apr 2017
Re: Q1 N2M,Good to hear from you. If current Chinese spot prices are US$240-260 with CIF at say US$20, and H1 contracted prices are circa US$151 per tonne based on the 31/12/2016 prepaid inventory, then we may well see H1 average net realised of circa US$200 per tonne.The big question is what % of ilmenite KMR is in fact selling to the spot market. Still it is looking good for H1 and better for H2. As harder figures come out, the sp should certainly trend up.
Nice to Michu
13 Apr 2017
Re: Q1 At least we now know that the output side is solid in early 2017 ( and looks like it will remain at least solid thru the next six months, else they would have warned ) It's frustrating that we don't have anything absolute on the revenue side so far in 17.. but it's not, in my mind, unreasonable to assume that based on current market prices they are signing well priced contracts ongoingly now and that this s/p is now too low and will - including some volatility as is KMR's way - increase in the short term -eg next 6 months- and probably medium term - eg next 12 to18 months -too.
DevonianDracula
13 Apr 2017
Q1 Good first quarter, but no figures on the important metrics such as closing net cash or an approximate $ value for sales:[link] it does note the strong demand on the Chinese spot market.[link] prices up $10!! GLA
DevonianDracula
12 Apr 2017
LSE Soop-a-woman What drivel on the dark side!!Will Kenmare ever deliver a positive update like this? From you, and from Greeno:Reported today in Base Q1 updateBase SP up 20% in a week[link] However, Greeno's post was not drivel.Look to 2016 results presention to the increase in Chinese spot prices, and bear in mind that KMR contracts ilmenite sale prices roughly 6 months in advance, e.g. November/December 2016 for H1 2017 sales. This helps on the way down, but hinders on the way up. At all times, customers treat KMR as a good and reliable customer. GLA
DevonianDracula
06 Apr 2017
Re: No Sir Tommoo,Good to hear from you, but I am sorry to hear that you are holding out of sentiment rather than conviction. Still sentiment amongst other reasons probably induced me to sell only enough to bring my cumulative realised KMR gains over a quarter of a million pounds on the peak day when they hit 66p+!With H2 2016 EBITDA of +US$15.9 million, based on inventory pre-sold as of 31/12/2016 at US$151+ per tonne, I would expect to see H1 2017 EBITDA of circa US$45 million.
Tommoo
06 Apr 2017
Re: No Sir Very much enjoyed your post Devon. I am heartened by your forecast, but personally feel that apathy rather than empathy is the sp current view. My prognosis is a long slog ahead until such time as strong credible consistent trading is seen. I continue to hold out of sentiment rather than conviction.Like you I hope to be proven wrong.
DevonianDracula
05 Apr 2017
No Sir I was not quoting you, but may well have miss-read etc. Erare Human est!Repeat, I will vote against the remuneration report. However, much good that will do us, unless I chip in GBP50, I think, to have the 99.99% of my holdings held by my brokers voted against!!Comparing the market value of conditional options granted to free cash for the year is not very relevant, in particular when H1 yielded about -US$10.7 EBITDA, while H2 produced +US$15.9.More relevant is probably cash cost per tonne of production of US$153 in H1, US$123 in H2. Given that the inventory pre-sold as of the end of 2016 was at US$151+ a smidgeon, which is way below the current US$230-250 quoted on ferroalloy (CIF), and allowing for US$20 per tonne shipping and insurance (roughly 2x current shipping costs), 2017 H1 figures seem likely to come in much better than H2 2016 and H2 even more so.Certainly, the market is likely to want to see tangible & credible results before pushing the sp up much, but I will happily stand by my 2016 forecast of 450p+ at the end of 2017, and hope to be proven wrong the right way!! GLA
DevonianDracula
04 Apr 2017
Re: LSE cat fight, FWIIW,I think that the shares offered to the 3 executive BODies are over the top and I will vote against the remuneration report, etc.In their defence, the BOD have been in a very extended close period re share purchases & sales, and most took up more than their OO rights in the FP, one who is now resigning after 9 years, going well beyond the call of duty. Hats off to her, she will be missed amongst the walking-dead!!
DevonianDracula
04 Apr 2017
LSE cat fight, move on to ladies mud wrestling, it is far more entertaining!The 3 executive BODies did not receive US$1 million in free shares each, they received a fair bit less in total, split between them.If you subscribed in the OO you have done OK, but not well. I took up part of my OO entitlement, but way below the full entitlement. No problem, I added a whole lot more very late in 2015 and early 2016 at much lower prices. My choice, my move, & I am happy.When you make investments, you make your own choices & take your own risks. Things can work out badly, OK, well, or whatever. Fine, that is life. Never blame others, & never regret what you did, even if you should. Above all, no mud-slinging children.
DevonianDracula
02 Apr 2017
Re: 2016 Accounts 1 point that I have not seen commented on is that year-end "pre-sales" amounted to 60,000 tonnes, with cash paid in advance of delivery of US$9.1million. That equates to about US$151.7 per tonne, as compared to roughly US$121 as of of 30 June 2016, an increase of 25%. There are no indications as to movements over the 6 months, so part may have benn carried forward. Who knows? KMR, but they are not telling us! GLA
DevonianDracula
31 Mar 2017
2016 Accounts are available on KMR's website:[link]
DevonianDracula
30 Mar 2017
Re: Contango lse 2?s From the LSE bb:"No I can't quote a website that quotes up to date information."I expected either no response or something like the above. So, in my "geriatric mind", ha-ha, ho-ho, hee-hee, I assume that in fact they are, although either the EIB has not yet breached a % point, or they are as bad as Foord at reporting thresholds crossed. Of more interest is this:"AT HAMILTON MINERAL SEPARATION PLANTMar.29 2017 Source:ruidowKeywords:zircon sandIluka Resources Limited (Iluka) advises that operations will be suspended at the company’s Hamilton mineral separation plant in October 2017. this time, Iluka expects to have processed its remaining heavy mineralconcentrate from Victorian Murray Basin mining operations, which concluded in March 2015. The suspension will result in up to 60 positions at the Hamilton plant being made redundant from October 2017.Operations at Hamilton will be suspended until concentrate becomes available from Iluka’s next planned mining evelopment in the Murray Basin – at Balranald, New South Wales. Iluka is undertaking detailed evaluative work for Balranald and it is not expected that concentrate will be available from any such development before 2019.Iluka concluded mining operations in Victoria in March 2015. Since that time, the Hamilton plant has processed concentrate sourced predominantly from Victorian stockpiles, supplemented with concentrate transported by road, rail and sea from the company’s Jacinth-Ambrosia mine in South Australia. Under this arrangement, Victorian stockpiles were scheduled to be exhausted in June 2018. To reduce transport, storage and handling costs; and to increase the overall efficiency of Iluka’s two Australian mineral separation plants (Hamilton and Narngulu, Western Australia); the company has taken the decision to process the Victorian stockpile only at Hamilton, without supplementing it with concentrate imported from Jacinth-Ambrosia in South Australia. As a result, the Victorian stockpiles will now be exhausted in October 2017.'Iluka penny-pinching?? GLA
