Kenmare Resources - re-rating due soon?

majormike - this will track NAV, which depending on who you read stands at 49-59p currently pre-expansion, and 71-75p if Co expand production. I would expect this to move to 50p over next six months and then expect Co to announce expansion once all contracts in place, in which case could see 60-70p when production starts next September. However I think the interesting part is whether this becomes a potential bid target for the majors given the very low cost of production - in this case I think we could well see a 20/25% premium to the expansion price giving a range of 75-88p.