Kenmare Resources plc ("Kenmare" or "the Company")
Kenmare Statement
10th September, 2008
Kenmare is not aware of any reason for the sharp deterioration over the last week in the Company's share price.
The Company completed a successful share placing of US$30 million at Stg 32p on 29th August, which is more than sufficient for its funding needs based on forecast output.
As set out in the interim statement, the Board is taking all steps necessary to achieve target production. Kenmare is pleased to report that the production ramp-up of heavy mineral concentrate at the Moma Titanium Minerals Mine is progressing well, with production output for the first nine days of September 27% higher than the previous best month's daily average production level.
The Company expects daily production rates to continue to improve during the remainder of September and in the following months.
For more information:
Kenmare Resources plc
Michael Carvill, Managing Director
Mob: + 353 87 674 0110
Jim Milton
Tel: +353 1 498 0345
Mob: + 353 86 255 8400
Conduit PR Ltd
Jane Stacey/Leesa Peters
Tel: +44 207 429 6606
Mob: +44 7812 159885