Meetings available with Kenmare Resources – 26 August 2009

Meetings available with Kenmare Resources – 26 August 2009

Michael Carvill, CEO of Kenmare Resources is available for one-on-one meetings on the morning of Wednesday 26 August at Conduit PR’s offices on 76 Cannon Street, London EC4N 6AE. At the meeting Michael will be able to provide an update on progress as the Company moves to full production at its massive Moma  titanium minerals mine in Q4 2009.

If you would be interested in meeting with Michael please RSVP by email or contact Charlie Geller on 0207 429 6604 and confirm your attendance by Wednesday 17 June.  We will contact you shortly to confirm your interest. A brief description of Kenmare Resources is below.

Kenmare’s main asset is the producing Moma Titanium Minerals Mine, located on the Northern coast of Mozambique. The Moma Mine is the world’s largest titanium minerals mine not owned by a major operator and contains 175million tonnes of the titanium mineral ilmenite, as well as rutile and the high-value zircon. mineral.

Kenmare is on target to reach full production in Q4 2009, and said it has to date completed 95% of a performance improvement programme designed to ensure they operate at full capacity. Once the Company reaches full ramp up it expects to produce 800,000 tpa Ilmenite, 47,000 tpa Zircon and 18,000 tpa Rutile. The Company is in the bottom quartile of the production cost curve and has extensive on site infrastructure enabling it to produce and distribute saleable product at the Minesite by virtue of on onsite wet concentrator plant, mineral separation plant and transhipment vessel. The Company has off take agreements in place for the majority of expected production for the year and sales are estimated to be US$95million in 2009 (Canaccord research 22 Jan 09). Project financing has been based on a 20 year mine plan and there are substantial opportunities to expand the resource.

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