Kenmare Resources Plc · LSE:KMR
Kenmare Resources — Shareholder Meeting (May 2024)
26 slides from Kenmare Resources's shareholder meeting presentation, May 10, 2024
Slide 1: 2024 AGM presentation
RESPONSIBLY MEETING GLOBAL DEMAND FOR QUALITY-OF-LIFE MINERALS 2024 AGM presentation 10 May2024
Slide 2: Disclaimer
Disclaimer This Presentation (the “Presentation”) has been This Presentation does not constitute or form part attainable or will be realised. In particular, certain prepared and issued by Kenmare Resources plc of, and should not be construed as, an offer, statements in this Presentation relating to
Slide 3: Creating sustainable competitive advantage
Creating sustainable competitive advantage Strategic priorities and 2023 performance OPERATE • • Safe and engaged workforce Thriving communities >6mths • Healthy natural environment WITHOUT A LOST RESPONSIBLY • Trusted business TIME INJURY 986kt • 1st quartile industry position DELIVER LONG LIFE, co
Slide 4: 2023 review
2023 review Mineral Separation Plant
Slide 5: Sustainability goals advanced in 2023
Sustainability goals advanced in 2023 Sustainability strategic pillars Safe and engaged workforce Thriving communities • >4m hours worked without a Lost • Contract signed for construction Time Injury to date of district hospital • 16% female representation at the • 3 water supply systems Moma Mine (
Slide 6: Revised ilmenite production guidance achieved
Revised ilmenite production guidance achieved 2023 production review HMC production Ilmenite Mining 1,448,300t 986,300t HMC production impacted by the severe lightning strike in Q1 2023 and lower ore grades due to WCP B mining in wetlands and WCP A -9% -9% approaching end of current mine path 2022
Slide 7: Average product price above $400/t
Average product price above $400/t Overview of Kenmare’s product markets in 2023 Average price received for Kenmare’s products ($/t) 800 600 Shipment volumes 500 $ per tonne (FOB) 600 (000' tonnes) 429 486 426 400 412 400 366 300 239 257 269 274 283 200 200 100 - - H1 2019 H2 2019 H1 2020 H2 2020 H1
Slide 8: Robust cash flow generation in 2023
Robust cash flow generation in 2023 Operational and financial highlights Other highlights Average price ($/t) Revenue (FOB) 2023 dividend 463 418 498 USc56.0/sh 421 437 (2022: USc54.3/sh) 327 248 272 256 232 2023 share buy-back 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 EBITDA ($m) Net profit
Slide 9: >$250m shareholder returns since 2019
>$250m shareholder returns since 2019 Cumulative dividends of $140m and share buy-backs of $113m Dividend profile (USc/share) Share buy-back completed in 2023 $30m acquired at £4.22/sh, reducing share count by 5.9% Interim Final 56.0 Dividend policy delivery 54.3 Proposed 2023 dividend of 38% of
Slide 10: Outlook for 2024 & beyond
Outlook for 2024 & beyond Wet Concentrator Plant B
Slide 11: 2024 production guidance
2024 production guidance1 2024 ilmenite production expected to be in line with 2023 Production 2024 Guidance 2023 Actual Ilmenite tonnes 950,000-1,050,000 986,300 Primary zircon tonnes 45,000-50,000 51,100 Rutile tonnes 8,000-9,000 8,400 Concentrates2 tonnes 37,000-41,000 45,700 Costs Total cash ope
Slide 12: Securing future production at Moma
Securing future production at Moma No significant relocation costs post WCP A transition to Nataka Mineral Resource by ore zone (THM Mt) WCP A upgrade and transition to Nataka Moving WCP A to Nataka unlocks the majority of Kenmare’s 9.0bnt Mineral Resources, securing production at Moma for decades
Slide 13: Moving forward with confidence
Moving forward with confidence Investing in future production to maintain first quartile industry position Resilient long-term production profile Maintaining first quartile industry position • One of the world’s largest titanium minerals deposits • EBITDA margin of 50% in 2023 • >100 years of Minera
Slide 14: Questions?
Questions? Jetty with transshipment vessel
Slide 15: Resolution 1
Resolution 1 To consider the Financial Statements, the Directors’ Report and the Independent Auditor’s Report thereon for the year ended 31 December 2023. Kenmare Resources – 2024 AGM presentation 15
Slide 16: Resolution 2
Resolution 2 To consider the Remuneration Committee Report and the Annual Report on Remuneration as set out on pages 124 to 139 (inclusive) of the Annual Report for the year ended 31 December 2023. Kenmare Resources – 2024 AGM presentation 16
Slide 17: Resolution 3
Resolution 3 To declare a final dividend of USc38.54 per share on the ordinary shares of €0.001 each in the capital of the Company for the year ended 31 December 2023. Kenmare Resources – 2024 AGM presentation 17
Slide 18: Resolution 4
Resolution 4 To re-elect the following Directors: 1) Issa Al Balushi 2) Michael Carvill 3) Mette Dobel 4) Elaine Dorward-King 5) Clever Fonseca 6) Tom Hickey 7) Graham Martin 8) Deirdre Somers and 9) Andrew Webb Kenmare Resources – 2024 AGM presentation 18
Slide 19: Resolution 5
Resolution 5 To authorise the Directors to fix the remuneration of the auditor. Kenmare Resources – 2024 AGM presentation 19
Slide 20: Resolution 6
Resolution 6 Special Resolution - To renew the authority to convene an EGM by 14 days notice. Kenmare Resources – 2024 AGM presentation 20
Slide 21: Resolution 7
Resolution 7 Ordinary Resolution - To authorise the Directors to allot relevant securities. Kenmare Resources – 2024 AGM presentation 21
Slide 22: Resolution 8
Resolution 8 Special Resolution - To disapply statutory pre-emption rights. Kenmare Resources – 2024 AGM presentation 22
Slide 23: Resolution 9
Resolution 9 Special Resolution - To authorise market purchases. Kenmare Resources – 2024 AGM presentation 23
Slide 24: Resolution 10
Resolution 10 Special Resolution - To authorise re-issue of treasury shares. Kenmare Resources – 2024 AGM presentation 24
Slide 25: Follow Kenmare on social media
Follow Kenmare on social media Facebook, Twitter and LinkedIn Kenmare has profiles on Facebook, Twitter and LinkedIn, which feature regular updates on our sustainability initiatives, operational and development milestones, news flow and more Click the name of the social network to visit out prof
Slide 26: Contact us
Contact us Jeremy Dibb / Katharine Sutton / Michael Starke +353 1 671 0411 Plant ir@kenmareresources.com nursery Follow us