Our partnership Buchanan has been a strategic partner to Kenmare for the last six years. Two years ago, we advised it through one of its most serious crises. The price of ilmenite collapsed just at the time the company reached the peak of its debt, nearly bankrupting it. We assisted Kenmare in a fund raise, which raised almost 10 times its market cap in equity, to pay off debt, and provide much needed working capital.
Growth story Kenmare produces from its Moma mine in Mozambique – a challenging location, where the company prospected for, discovered and is now producing high grade products which are inextricably linked to global GDP growth. It is now thriving with a strong balance sheet, record production, and growing profitability.