Result of Equity Issue

Kenmare Resources PLC
16 February 2001



Kenmare Resources plc ('Kenmare' or 'the Company') 


Kenmare Placing Raises Stg£3.4 million

Kenmare is pleased to announce that it has completed a placing of 17,229,000
new Ordinary Shares of nominal value IR5p each at a price of Stg20p per share.
The funds raised from this placing amount to Stg£3,445,800 million.  These
funds will be used principally for the advancement of the Kenmare Moma
Titanium Project, part payment for the Titanium Minerals Plants purchased from
BHP last year and for ongoing operations.

Charles Carvill, Chairman of Kenmare, commented: 'This placing, which is with
institutional shareholders, represents another step in bringing our Moma
Titanium Project closer to production. We are now nearing completion of the
Moma Definitive Feasibility Study, following which the Company intends to
pursue its marketing and debt financing negotiations.'



For more information :
Michael Carvill                          Tony McCluskey
Managing Director                        Financial Director
[phone] or [phone]       [phone] or [phone]

Kenmare Website:  www.kenmareresources.com