Kenmare Resources (“KMR”) has released its full year financial results with adjusted EBITDA of US$58m (-63% YoY, -25.3 % vs H&Pe). Unadjusted EBITDA post a pre-flagged US$300m non-cash impairment was -US$243m, with an underlying loss per share of US25.7cps (H&Pe -US5.0cps). The impairment reflects lower long-term price assumptions and proposed amendments to the Implementation Agreement (“IA”), with no impact on operations. KMR’s operational outlook is unchanged; management is prioritising value ....
