Kenmare Resources - re-rating due soon?

Mike

Your link to the article re:

WILMINGTON, Delaware, December 29 /PRNewswire/ -- DuPont Titanium
Technologies today announced a global price increase for
Florida Zircon Sands.

was possiblity the most significant newsflow for many a month on this BB. Those who brought into Kenmare for the long haul were in the acknowledgement that there would be a supply and demand senario upon a upturn in world economics. I expected this to be in the final quarter of 2004. However for Dupont to announce global price increases in Zircon means one thing "shortage".

Kenmare already have a multi year sales contract for 6,000 tonnes per annum of Premium Grade zircon signed with one of Kenmare's two existing zircon customers. In addition Kenmare has signed a contract for the sale of 18,000 tonnes per annum of Special Grade zircon running for five years from first delivery. The customer is the largest importer of zircon into the Chinese market.

The rapid conclusion of these sales contracts indicates strong demand for products from the Moma mine.

All of Kenmare sales contracts to-date means the Lender Group's proposed marketing requirement for first disbursement of debt finance has now been completely satisfied; so Kenmare have one project milestone left "finalisation of the fixed price development contract" at which time we will the see Kenmare securing project Financing

Happy New Year to all (soon to be rich) Kenmites.