Base Resources is maintaining strong production whilst advancing Kwale’s South dune

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  • Base Resources continues to see strong demand
  • With revenue and profits rising, Base Resources can now confidently set out its stall for future growth
  • Base Resources started at ‘buy’ by Canaccord on underappreciated heavy metals exposure
  • Base Resources reports on stable June quarter and talks upcoming exploration plans
Base Resources Limited - Base Resources makes smooth transition at Kwale

Quick facts: Base Resources Limited

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Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance.

The company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar.

29 Jul 2021

(, , ) highlighted ongoing strong demand and said all its products are supported by price increases in the quarter.

The company, in its quarterly update, additionally told investors it has achieved production guidance for the 2021 financial year. Rutile production totalled 73,248 tonnes (against guidance of 70,000 to 80,000), 317,276 tonnes of ilmenite (300,000 to 320,000) and 27,122 tonnes of zircon (26,000 to 28,000).

For 2022, it is anticipating 73,000 to 83,000 tonnes of rutile along with 310,000 to 340,000 tonnes of ilmenite and 24,000 to 28,000 tonnes of zircon.

During the period it advanced key pieces of work towards mine development, with pre-feasibility completed for the Kwale North Dune project and begun pre-feasibility study for the Bumamani mine.

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14 Jul 2021

(LON:BSE, ASX:BSE) is boosted by comments made at a conference by a government official who said an extension to the Kwale Special Mining Lease (SML 23) has been approved.

The licence will be issued soon according to the comments by the Cabinet Secretary for the Ministry of Petroleum and Mining at a Kenyan Chamber of Mines conference, Base said in a statement.

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29 Apr 2021

Stockbroker Peel Hunt repeated a ‘buy’ recommendation for Base Resources Plc () whilst pointing to the company’s stronger-than-expected production results for the March quarter.

Analyst Peter Mallin-Jones noted that the stronger performance was driven by both higher mining rates and grades, as well as slightly higher-than-expected recoveries of ilmenite in particular.

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21 Mar 2019

At the end of December 2018, PLC (ASX:BSE) () turned debt free.

It was a seminal moment for the company, as it paid down the final US$25mln tranche of a US$200mln-plus package that allowed it to put the Kwale mineral sands operation in Kenya into production a few years ago.

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17 Aug 2021

(, , ) has been started on a ‘buy’ recommendation by (, ) as the broker views it as “well-run, high-quality company, with exposure to a suite of underappreciated (but highly attractive) commodities”.

Noting the miner is focussed on the extraction of minerals sands including ilmenite, rutile and zircon that are typically are used in pigment and ceramic production, analyst Sam Catalano said he expects the highly cash-generative Kwale minerals sands operation has around three years of life remaining, with the key development focus being the world-class Toliara project in Madagascar.

With valuable heavy mineral reserves suggesting a 33-year life producing 800-900k tonnes per year, the analyst estimates the low unit costs driven by Toliara’s scale and 6.5% grade will underpin it “as one of the most competitive (and profitable) mineral sands operations in the world”.

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29 Jul 2021

(, , )’s Tim Carstens talks Proactive through its June quarter highlights. He says they enjoyed continued strong demand for all its products supported by price increases in the period. He adds that the company achieved production guidance for the 2021 financial year – rutile production totalled 73,248 tonnes, 317,276 tonnes of ilmenite and 27,122 tonnes of zircon.

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Base Resources reports on stable June quarter and talks upcoming exploration…

Base Resources Limited (AIM:BSE, ASX:BSE, FRA:B4Z)’s Tim Carstens talks Proactive through its June quarter highlights. He says they enjoyed continued strong demand for all its products supported by price increases in the period. He adds that the company achieved production guidance for the 2021…

2 weeks, 6 days ago

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