, /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Tronox Holdings plc (NYSE: TROX). Shareholders who purchased shares of TROX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/tronox-holdings-plc-loss-submission-form-2/?id=170627&from=4 CLASS PERIOD: February 12, 2025 to July 30, 2 ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased common stock of Tronox Holdings plc during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who bought Tronox common stock between February 12, 2025, and July 30, 2025, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by November 3, 2025 [3][5]. - The lawsuit alleges that Tronox's management made misleading statements about the company's growth and performance in its pigment and zircon commercial division, which ultimately led to a decline in sales and increased costs [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering hundreds of millions for investors [4]. - The firm has been recognized for its leadership in securities class action settlements, achieving the largest settlement against a Chinese company at the time and ranking highly in settlement numbers since 2013 [4].

Core Viewpoint - Kenmare Resources plc is progressing with the upgrade of its Wet Concentrator Plant A (WCP A) to facilitate mining in the Nataka ore zone, which is crucial for the company's long-term production sustainability [2][4]. Project Overview - The WCP A upgrade project is essential for transitioning to the Nataka ore zone, which contains approximately 70% of Moma's Mineral Resources and is expected to support production for over 20 years [4]. - The capital cost estimate for the WCP A upgrade project remains at $341 million, with expectations that about 80% of this capital will be deployed by the end of 2025 [6]. Production and Operations - WCP A has paused production for an estimated three to four weeks to facilitate the connection of new dredges and a new feed preparation module [9]. - The upgrade includes the addition of two high-capacity dredges and a new feed preparation module to manage higher levels of slimes in the Nataka ore, aiming to enhance mining rates and Heavy Mineral Concentrate production [5]. Timeline and Future Plans - After the production pause, WCP A is expected to ramp up to its nameplate capacity of 3,500 tonnes per hour by the end of 2025, with the transition to Nataka commencing in late Q2 2026 and expected to take approximately 18 months [10].

Core Viewpoint - Kenmare Resources plc reported its Half-Yearly Financial Report for H1 2025, highlighting a 3% increase in mineral product revenue, challenges with operating costs, and ongoing negotiations with the Government of Mozambique regarding the renewal of the Moma Implementation Agreement [1][2][4][5]. Financial Performance - Mineral product revenue reached $159.6 million in H1 2025, up 3% year-on-year, driven by stronger shipments and a higher average price received [6][55]. - Adjusted EBITDA was $47.2 million, down 25% year-on-year, with a margin of 30% [6][55]. - The company recognized a non-cash impairment loss of $100.3 million due to lower projected future revenue assumptions [6][55]. - Adjusted profit after tax was $6.1 million, down 71% year-on-year [6][55]. - Cash operating costs increased to $248 per tonne, up 14% year-on-year, primarily due to higher direct operating costs [6][63]. Operational Highlights - HMC production was 670,600 tonnes, up 2% year-on-year, while total finished product production increased to 500,800 tonnes, also up 2% year-on-year [24][28]. - Total shipments in H1 2025 were 488,900 tonnes, reflecting a 2% increase year-on-year [32]. - The company is on track to achieve its 2025 production and cost guidance, with expectations for stronger shipments in H2 2025 [3][26][82]. Market Dynamics - Demand for Kenmare's ilmenite remains strong, supported by a stable global pigment market and growth in the titanium metal market [11][50]. - Ilmenite prices in H1 2025 were marginally below those of H2 2024, while the average price received per tonne was $326, up 1% year-on-year [50][60]. - The zircon market remains subdued, with demand negatively impacted by the substitution of zircon for lower-cost materials [53]. Capital Projects - The Wet Concentrator Plant A upgrade project is progressing well, with $208 million spent by the end of H1 2025, representing 60% of the total project budget of $341 million [3][36][81]. - The company plans to increase development capital expenditure guidance for 2025 from $150 million to $165 million due to updated expenditure phasing [3][36]. Corporate Developments - Kenmare has been in negotiations with the Government of Mozambique for nearly three years regarding the renewal of the Moma Implementation Agreement, expressing concerns over the prolonged process [5][20][23]. - The company appointed James McCullough as the new Chief Financial Officer on 1 May 2025, bringing extensive experience from Rio Tinto Plc [46].

Financial Performance - Revenue decreased by 11% year-over-year, from $820 million in Q2 2024 to $731 million in Q2 2025[11, 16] - Adjusted EBITDA decreased by 42% year-over-year, from $161 million in Q2 2024 to $93 million in Q2 2025[11, 24] - Adjusted EBITDA margin decreased by 690 basis points year-over-year, from 19.6% in Q2 2024 to 12.7% in Q2 2025[11, 24] - Free cash flow was a use of $55 million in Q2 2025, compared to a generation of $84 million in Q2 2024[11] - Net loss attributable to Tronox was $84 million in Q2 2025, compared to a net income of $16 million in Q2 2024[11] Operational Highlights - TiO2 volumes decreased by 11% year-over-year and 2% sequentially[10, 20] - Zircon volumes decreased by 10% year-over-year and increased 1% sequentially[10, 20] - The company is executing a cost improvement program targeting $125-$175 million in run-rate savings by the end of 2026[10] - Capital expenditures were $83 million in Q2 2025, with approximately 56% allocated to maintenance and safety, and 44% to mining extensions[13, 35] - The company reduced the dividend by 60% to $0.05 per share for Q3 2025[36, 37, 38]

Core Viewpoint - Kenmare Resources has successfully received the first of two new high-capacity dredges at the Moma Titanium Minerals Mine, marking a significant milestone in the upgrade of its Wet Concentrator Plant A, which is expected to enhance production capabilities and transition to the Nataka ore zone [2][3]. Group 1: Dredge Arrival and Upgrade Project - The first new dredge, weighing 1,160 tonnes and measuring 62 metres in length, has arrived at the Moma Mine as part of the upgrade project for the Wet Concentrator Plant A [4][5]. - The dredges were fabricated in the Netherlands and transported by sea, with the first dredge landing on July 18, 2025 [5]. - The second dredge is expected to arrive in the coming weeks, and both will be moved to the staging pond for assembly [5]. Group 2: Upgrade Work Sequence - The upgrade work for WCP A is on track to begin in Q3 2025 and is anticipated to take three to four weeks [6]. - The existing dredges will be detached, and the new dredges will be integrated into the plant, facilitating a transition to the Nataka ore zone [6]. Group 3: Transition to Nataka Ore Zone - The transition to the Nataka ore zone is crucial as it represents approximately 70% of Moma's nine billion tonnes of Mineral Resources and is expected to sustain production for over 20 years [7]. - This transition is essential for securing long-term production capabilities at the Moma Mine [7].

Financial Performance & Projections - 2023 Revenue was $2.9 billion[9], with Adjusted EBITDA of $524 million[9] and an Adjusted EBITDA margin of 18.4%[29] - Q1 2024 revenue is expected to be $774 million[22], a 9% increase year-over-year[22], with TiO2 revenue at $605 million[22] and Zircon revenue at $88 million[22] - Q1 2024 Adjusted EBITDA is expected to be $131 million[22], a 10% decrease year-over-year[22], but a 39% increase quarter-over-quarter[22], with an Adjusted EBITDA margin of approximately 17%[25] - Full year 2023 saw a net loss of $316 million[29] and a free cash flow use of $77 million[29] Sales & Market Dynamics - In FY2023, TiO2 sales accounted for 79% of total sales, Zircon for 9%, and other products for 12%[9] - In FY2023, EMEA accounted for 40% of sales, Asia Pacific for 28%, North America for 26%, and Latin America for 6%[9] - Q1 2024 saw an 18% increase in TiO2 volumes quarter-over-quarter[25] and a 54% increase in zircon volumes quarter-over-quarter[25] Capital Projects & Investments - The company is investing in key projects to sustain vertical integration, with total estimated capital expenditures of approximately $130 million in 2024 for the Fairbreeze Expansion Project and Namakwa East OFS Project[18] - These projects are expected to generate Internal Rates of Return (IRRs) in excess of 30%[18] Sustainability Goals - The company aims for a 35% reduction in Scope 1 and 2 GHG emissions intensity by 2030 and net zero emissions by 2050[12] - The company aims for a 9% reduction in Scope 3 emissions in the supply chain by 2025[12]

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].

Financial Data and Key Metrics Changes - The company generated revenue of $738 million, an increase of 9% sequentially, primarily driven by higher TiO2 sales volumes [10] - Loss from operations was $61 million, with a net loss of $111 million, including $87 million of restructuring and other charges [11] - Adjusted EBITDA was $112 million, representing a 15% decline year on year, with an adjusted EBITDA margin of 15.2% [11][14] - Free cash flow was a use of $142 million, including $110 million of capital expenditures [11] Business Line Data and Key Metrics Changes - TiO2 revenues decreased 3% year over year, driven by a 1% decrease in sales volumes and unfavorable exchange rates, but increased 10% sequentially due to higher seasonal demand [12] - Zircon revenues decreased 22% compared to the prior year, driven by a 15% decrease in sales volume and a 7% decrease in price [12] - Revenue from other products increased 5% year over year and 25% sequentially due to higher sales of pig iron and opportunistic sales of ilmenite [12] Market Data and Key Metrics Changes - Europe experienced a stronger than normal seasonal demand uplift in TiO2 volumes, with a 12% increase from Q4 2024 [7] - North America also saw stronger seasonal trends, while competitive activity in Latin America, the Middle East, and Asia exerted pressure on sales [8] - The company is beginning to see benefits from antidumping duties finalized in the EU in January, resulting in sales volumes recovering to levels not seen since Q2 2021 in Europe [7] Company Strategy and Development Direction - The company is focusing on strategic actions to manage costs and improve operational efficiency, including idling the Batlik pigment plant in the Netherlands [9][18] - A cost improvement program was introduced, targeting sustainable run rate cost improvements of $125 million to $175 million by the end of 2026 [20] - The company aims to maintain its position as a leading vertically integrated titanium mining and upgrading producer [19] Management's Comments on Operating Environment and Future Outlook - The management highlighted ongoing macroeconomic challenges, including inflation and high interest rates, impacting housing markets and consumer sentiment [18] - The company maintains its guidance for 2025, expecting revenue in the range of $3 billion to $3.4 billion and adjusted EBITDA between $525 million and $625 million [23] - Management anticipates stronger performance in the second half of 2025, driven by expected improvements in pigment and zircon volumes [23] Other Important Information - The company ended the quarter with total debt of $3 billion and net debt of $2.8 billion, with a net leverage ratio of 5.2 times [14][15] - Capital expenditures totaled $110 million, with approximately 49% allocated to maintenance and safety and 51% to strategic projects [17] - The company declared a dividend of $0.0125 per share in the first quarter [17] Q&A Session Summary Question: Update on TiO2 volume growth expectations - Management expects a lift in TiO2 demand driven by antidumping duties in Europe and anticipated duties in India and Brazil [30][31] Question: Average utilization rate for TiO2 production - Historically, operating rates were above 80%, and management expects to maintain or exceed those rates [33] Question: European growth size in the quarter - European growth was double the normal rate from Q4 to Q1, indicating significant demand recovery [38] Question: Outlook for zircon market - Management expects measured growth in zircon, with only about 5% growth anticipated year over year [44] Question: Impact of Batlik closure on inventory and cash flow - The closure is expected to generate significant cash flow, with inventory levels decreasing over time [49] Question: Production costs and improvements - Management anticipates improved production costs in the second half of the year due to operational efficiencies and the shutdown of the Batlik plant [56][58] Question: Antidumping duties in India and Brazil - Management sees significant opportunities in India and Brazil, with expectations of increased market share as duties are finalized [62][64]

Financial Data and Key Metrics Changes - The company generated revenue of $738 million, an increase of 9% sequentially, primarily driven by higher TiO2 sales volumes [10] - The loss from operations was $61 million, with a net loss of $111 million, which included $87 million of restructuring and other charges [11] - Adjusted EBITDA was $112 million, representing a 15% decline year on year, with an adjusted EBITDA margin of 15.2% [11][14] - Free cash flow was a use of $142 million, including $110 million of capital expenditures [11] Business Line Data and Key Metrics Changes - TiO2 revenues decreased 3% year over year, driven by a 1% decrease in sales volumes and unfavorable exchange rates, but increased 10% sequentially due to higher seasonal demand [12] - Zircon revenues decreased 22% compared to the prior year, driven by a 15% decrease in sales volume and a 7% decrease due to price [12] - Revenue from other products increased 5% year over year and 25% sequentially due to higher sales of pig iron and opportunistic sales of ilmenite [12] Market Data and Key Metrics Changes - Europe experienced a stronger than normal seasonal demand uplift in TiO2 volumes, with a 12% increase from Q4 2024 [6] - North America also saw stronger seasonal trends, while competitive activity in Latin America, the Middle East, and Asia exerted pressure on sales [7] - Zircon sales were lower both year over year and sequentially due to a slower start in China [7] Company Strategy and Development Direction - The company is focusing on strategic actions to manage costs and improve operational efficiency, including the idling of the Batlik pigment plant in the Netherlands [8][17] - A cost improvement program was introduced, targeting sustainable run rate cost improvements of $125 million to $175 million by the end of 2026 [19] - The company aims to maintain its position as a leading vertically integrated titanium mining and upgrading producer [20] Management's Comments on Operating Environment and Future Outlook - The management highlighted ongoing macroeconomic challenges, including inflation and high interest rates, impacting housing markets and consumer sentiment [17] - The company maintains its guidance for 2025, expecting revenue in the range of $3 billion to $3.4 billion and adjusted EBITDA between $525 million and $625 million [22] - The management anticipates stronger performance in the second half of 2025, driven by expected improvements in pigment and zircon volumes [22] Other Important Information - The company ended the quarter with total debt of $3 billion and net debt of $2.8 billion, with a net leverage ratio of 5.2 times [14] - Capital expenditures totaled $110 million in the quarter, with approximately 49% allocated to maintenance and safety and 51% to strategic projects [16] - The company declared a dividend of $0.0125 per share in the first quarter [16] Q&A Session Summary Question: Update on TiO2 volume growth expectations - Management expects a lift in TiO2 demand driven by antidumping duties in Europe and anticipated duties in India and Brazil [29][30] Question: Average utilization rate for TiO2 production - Historically, operating rates were above 80%, and management expects to maintain or exceed those rates [32] Question: European growth size in the quarter - European growth was double the normal rate, significantly influenced by reduced Chinese exports [37] Question: Outlook for zircon markets - Management anticipates only about 5% growth in zircon year over year, with a more balanced growth expected [42] Question: Impact of Batlik closure on inventory and cash flow - The closure is expected to generate significant cash flow and help reduce inventory levels over time [48] Question: Production costs and improvements - Management expects improved production costs in the second half of the year due to better fixed cost absorption and the impact of the Batlik closure [56] Question: Antidumping measures in India and Brazil - Management sees significant opportunities in India and Brazil, with expectations of increased market share as duties are finalized [62][63] Question: Rare earth extraction project status - The project to extract rare earths from tailings is still in progress, with prefeasibility studies ongoing in Australia [110]