Kenmare Resources Plc · LSE:KMR
Kenmare Resources — Shareholder Meeting (May 2023)
30 slides from Kenmare Resources's shareholder meeting presentation, May 11, 2023
Slide 1: 2023 AGM Presentation
RESPONSIBLY MEETING GLOBAL DEMAND FOR QUALITY-OF-LIFE MINERALS 2023 AGM Presentation 11 May 2023
Slide 2: Disclaimer
Disclaimer This Presentation (the “Presentation”) has available in connection with the Company. not prove to be correct and there can be no been prepared and issued by Kenmare assurance that any projected results are This Presentation does not constitute or form Resources plc (the “Company” or “Kenm
Slide 3: A globally significant titanium minerals deposit
A globally significant titanium minerals deposit Moma Titanium Minerals Mine overview Tier one orebody Operational process outline >100 year life of mine at targeted production rate of 1.2 Mtpa ilmenite Wet Heavy mineral Dredge + dry concentrator concentrate Moma is comprised of multiple ore zon
Slide 4: Creating sustainable competitive advantage
Creating sustainable competitive advantage Strategic priorities OPERATE • 12 million hours worked with no LTIs 0.09 • 6% reduction in Scope 1 CO2 LOST TIME INJURY RESPONSIBLY emissions FREQUENCY RATE • 1st quartile industry position for DELIVER LONG LIFE, LOW COST 2021 confirmed by TZMI • >100 years
Slide 5: 2022 review
2022 review Mineral Separation Plant
Slide 6: 11.8 million hours LTI free record achieved
11.8 million hours LTI free record achieved Striving to improve Health and Safety outcomes Redoubling efforts on workforce safety Safety performance 19 months and 11.8 million hours worked without a Lost Time Injury from 2021 to 2022 8 0.3 0.27 Improved performance related to hazard 7 0.25 ident
Slide 7: Consistent production in 2022 despite higher slimes
Consistent production in 2022 despite higher slimes Greater efficiencies offset some impacts of slimes and lower feed quality HMC production Ilmenite HMC: Steady production Record excavated ore volumes and HMC production 1,586,200t 1,088,300t Slimes levels impacted mining rates and recoveries at
Slide 8: Record prices achieved
Record prices achieved A strong year for all products 800 600 700 429 500 Shipment Volumes 600 $ per tonne (FOB) 366 486 (000’s tonnes) 500 400 283 400 236 239 257 300 223 300 269 274 200 200 100 100 - - H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 Shipment Volumes
Slide 9: Ilmenite unit costs benefitting from co-products
Ilmenite unit costs benefitting from co-products Production and cash operating cost per tonne profile 1,600kt $200/t 1,400kt $175/t 1,200kt $150/t Cost per tonne ($/t) Production (kt) 1,000kt $125/t 800kt $100/t 600kt $75/t 400kt $50/t 200kt $25/t 0kt $0/t 2015 2016 2017 2018 2019 2020 2021 2022 202
Slide 10: Record revenues, profits, and shareholder returns
Record revenues, profits, and shareholder returns Operational and financial highlights Other highlights Projects Sales price (FOB) Mineral Product 2022 Dividends RUPS1 463 ($/t) Revenue ($m) 498 327 421 229 248 272 Up 66% Complete 246 256 232 2022: USc54.3/sh Providing steady 2021: USc32.7/sh power
Slide 11: Continued dividend growth
Continued dividend growth Shareholder returns Dividends 2022 Shareholder returns profile $60m Dividends per Full year 2022 $40m share dividend +66% USc54.3/sh $20m $0m 2019 2020 2021 2022 Dividend policy delivery Interim Dividend Final Dividend Dividend policy of minimum 20% Profit After Tax, evol
Slide 12: Strategy for Nataka developed and tested
Strategy for Nataka developed and tested Nataka Pre-feasibility Study completed Definitive Feasibility Studies (DFS) to be completed in 2023 ? Nataka is the largest ore zone for Moma, representing 75% of Kenmare’s mineral resources Different resource characteristics to Namalope; higher slimes
Slide 13: Sustainability is core
Sustainability is core Sustainability strategic pillars Safe and engaged workforce Thriving communities • 50% LTIFR improvement against • $3 million invested by KMAD in a 3-year average (2020-2022) community projects • 14.5% female representation at • 17% improvement in numeracy the Moma Mine (2021:
Slide 14: Outlook 2023 and beyond
Outlook 2023 and beyond WCP A control room
Slide 15: Maintaining production in 2023
Maintaining production in 2023 2023 production guidance Production 2023 Guidance1 2022 Actual Ilmenite tonnes 1,050,000 - 1,150,000 1,088,300 Primary zircon tonnes 51,000 - 57,000 58,400 Rutile tonnes 8,000 - 9,000 8,900 Concentrates2 tonnes 37,000 - 41,000 45,200 Costs Total cash operating costs $m
Slide 16: First quartile margin position attained in 2021
First quartile margin position attained in 2021 Mineral sands industry revenue to cash cost curves 8 7 6 5 4 3 2 1 2021 2018 2013 1st Q 2nd Q 4th Q 0 0% 25% 50% 75% 100% 2013 2018 2021 The latest TZMI industry cost analysis puts Kenmare in the 1st quartile for 2021 Maintaining the best possible
Slide 17: Delivering on our strategy
Delivering on our strategy Strategic performance and targets 2022 performance 2023 targets • Focus on safety • RUPS commissioning OPERATE • Reducing CO2 emissions & RESPONSIBLY • Broad range of ESG targets set increasing biodiversity • Maintain cost control in an • Steady forecast production in DELI
Slide 18: 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 2022. Kenmare Resources – 2023 AGM Presentation 18
Slide 19: Resolution 2
Resolution 2 To consider the Remuneration Committee Report and the Annual Report on Remuneration as set on pages 118 to 134 of the Annual Report for the year ended 31 December 2022. Kenmare Resources – 2023 AGM Presentation 19
Slide 20: Resolution 3
Resolution 3 To declare a final dividend of USc43.33 per Ordinary Share for the year ended 31 December 2022. Kenmare Resources – 2023 AGM Presentation 20
Slide 21: Resolution 4
Resolution 4 To re-elect the following Directors (a) Michael Carvill (b) Mette Dobel (c) Elaine Dorward-King (d) Clever Fonseca (e) Graham Martin (f) Deirdre Somers (g) Andrew Webb and to elect the following directors (h) Tom Hickey (i) Issa Al Balushi Kenmare Resources – 2023 AGM Presentation 21
Slide 22: Resolution 5
Resolution 5 To authorise the Directors to fix the remuneration of the auditor. Kenmare Resources – 2023 AGM Presentation 22
Slide 23: Resolution 6
Resolution 6 Special Resolution - To renew the authority to convene an EGM by 14 days notice. Kenmare Resources – 2023 AGM Presentation 23
Slide 24: Resolution 7
Resolution 7 Ordinary Resolution - To approve, on an advisory basis, the Directors’ Remuneration Policy as set out on pages 135 to 145 of the Annual Report for the year ended 31 December 2022. Kenmare Resources – 2023 AGM Presentation 24
Slide 25: Resolution 8
Resolution 8 Ordinary Resolution - To authorise the Directors to allot relevant securities. Kenmare Resources – 2023 AGM Presentation 25
Slide 26: Resolution 9
Resolution 9 Special Resolution - To disapply statutory pre-emption rights. Kenmare Resources – 2023 AGM Presentation 26
Slide 27: Resolution 10
Resolution 10 Special Resolution - To authorise market purchases. Kenmare Resources – 2023 AGM Presentation 27
Slide 28: Resolution 11
Resolution 11 Special Resolution - To authorise re-issue of treasury shares. Kenmare Resources – 2023 AGM Presentation 28
Slide 29: 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 corporate social responsibility initiatives, operational and development milestones, news flow and more Click the name of the social network
Slide 30: Contact Us
Progressive land rehabilitation Contact Us Jeremy Dibb / Michael Starke +353 1 671 0411 ir@kenmareresources.com Follow us