Kenmare Resources, which operates the Moma mine in Mozambique, said it’s “on target for full production before the end of the year.”
“The group is focused on increasing production and shipments to target levels in the coming months, and on closing out the construction contract,” the Dublin-based company said today in a statement.
“The group will continue to monitor group funding requirements and obligations under the financing documentation, and will continue to ensure that the Group retains sufficient liquidity,” it said.
At 12.45pm shares in firm were down 7 per cent at 26 cent, giving the company a market value of €228 million.
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Shares in the firm have risen 326 per cent so far this year.