Kenmare Resources has announced a cut in the loss before tax from £1,037,313 (€1,317,116) to £278,097 (€353,000) in the six months ended June 30th 2000. No revenue was generated during the period.

Since then shareholders approved the purchase of a minerals processing plant from BHP and the second tranche of a placing which in total raised some £3 million sterling (€4.9 million). This, chairman, Mr Charles Carvill, said, has taken a significant step closer to the development of the Moma Titanium mine. He also said the combined carrying value of the concentrator plant and mineral separation plant valued in the balance sheet at £34 million is being dismantled with completion planned for the end of the year.