SHARES in Kenmare Resources – the Irish mineral exploration specialist – crept up over 3.5% yesterday, to 29c, on the back of a positive set of interim results and an indication that it will reach full production at its chief asset by the end of this year.

SHAREHOLDERS in Kenmare Resources have voted overwhelmingly to remove a long-serving director from its board following an incident earlier this year involving a female colleague.

KENMARE Resources, whose ilmenite mine will account for over 2% of Mozambique’s economy at full production, reported a dramatic fall in losses due to lower operating expenses in the first half of 2007.

KENMARE Resources has issued a taking-over certificate for Phase 2 of the Moma Titanium Minerals Mine in northern Mozambique to the contractor building the project.

KENMARE Resources has succeeded in removing non-executive director Donal Kinsella from his role as chairman of the company’s audit committee.

Kenmare Resources made a pre-tax profit of $71,000 (€59,000) for the first six months of the year, the exploration company said yesterday.

Shareholders have applied for $18.7m (€15m) of shares in Kenmare Resources after the firm's open offer last month.

The Iseq index was up 3.85 to 5456.75 this morning.

The financing of Kenmare resources' Moma Titanium Minerals Project is virtually complete but its chairman has warned that the company could find itself in a 'difficult funding position' if a remaining share issue was unsuccessful.

THE exploration company Kenmare Resources are planning to raise $97 million to fund its titanium extraction project in Mozambique.

ISEQ listed Kenmare Resources announced today that it has reached agreement on a fixed price $220m (€325.5m) development contract to build the Moma Titanium Minerals Mine in Mozambique.

Kenmare Resources PLC swung into profit at the first half stage and said it has made "considerable progress" in advancing towards its first production at the Moma Project.