Group 1 - Kenmare Resources plc is a leading global producer of titanium minerals and zircon, operating the Moma Titanium Minerals Mine in northern Mozambique [2][6] - The company is currently in discussions with the Government of Mozambique regarding the renewal of key rights and concessions under the Implementation Agreement, with final terms yet to be concluded [2][5] - Operations at the Moma mine continue as usual and have not been affected by the ongoing discussions [3] Group 2 - The Implementation Agreement (IA) was established in 2002, outlining the terms for Kenmare's mineral processing and export activities, with an initial period set to expire in December 2024 and a potential 20-year extension [4] - Kenmare has been pursuing the extension process since late 2022 and has received confirmation that existing rights and benefits remain effective while the extension process is ongoing [5] - Kenmare's production accounts for approximately 6% of global titanium feedstocks, supplying customers in over 15 countries [6]

Core Viewpoint - Kenmare Resources plc has terminated discussions regarding a potential offer from a consortium led by Oryx Global Partners Limited, citing that the proposals significantly undervalued the company and its prospects [3][12]. Company Overview - Kenmare Resources plc is a leading global producer of titanium minerals and zircon, operating the Moma Titanium Minerals Mine in northern Mozambique [3]. - The company is confident in its independent prospects and ability to achieve strategic and operational objectives, with a strong order book for the second half of 2025 [5]. Offer Discussions - Initial discussions began on March 6, 2025, when Kenmare received a non-binding proposal from the consortium for an all-cash offer at a price of 530 pence per share [7]. - The Board of Kenmare unanimously rejected the initial proposal, deeming it to undervalue the company [8]. - Subsequent engagement with the consortium revealed that they were only willing to proceed with an offer at a price substantially below the initial proposal, which was also rejected by the Board [11]. Future Plans - Kenmare is progressing with the Wet Concentrator Plant A upgrade project, with commissioning expected to begin in Q3 2025 [6]. - Ongoing discussions with the Government of Mozambique regarding the extension of the Implementation Agreement highlight the company's commitment to its investments and future plans in the region [7].