Kenmare falls on full-year losses
Irish miner Kenmare Resources’ share price plunged over six per cent yesterday, after it unveiled pre-tax losses of $44.1m (£26.6m) in 2013, down from $49.5m profit in 2012. The FTSE 250-listed firm attributed the decline to foreign exchange and financing charges. “2013 saw the end of a long period of investment in the Moma mine,” said managing director Michael Carvill. “[It] will reap the benefits of this investment not only in 2014 but for years to come.” Shares closed down 6.6 per cent at 13.55p.