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

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  • Base Resources updates reserves for new Kwale lease
  • 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 pleased with ‘consistently strong performance’ at Kwale
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.

20 Aug 2021

(, , ) has restated its mining reserves to reflect production over the past year and to incorporate Kwale Special Mining Lease 23 in Kenya.

The new Kwale lease increases ore by 19Mt and contained heavy minerals by 0.6Mt and boosts the Kwale mine life to December 2023.

Following mine depletion, estimated South Dune Ore Reserves remain the same at 40Mt of ore but contained heavy mineral has reduced by 0.1Mt.

Kwale North Dune (announced on 19 February 2021) has an estimated 194Mt at an average heavy mineral grade of 1.5%, containing 2.9Mt of heavy mineral.

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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).

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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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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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30 Aug 2021

(, , )’s Kevin Balloch talks Proactive’s Andrew Scott through its FY21 highlights. He says Kwale operations performed strongly, maintaining operational continuity throughout the year with effective controls to mitigate COVID-19 risks and impacts, and achieved the FY21 production guidance. The company’s also announced a full-year dividend of AUD 4.0 cents per share totalling US$34.2 million.

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Base Resources pleased with ‘consistently strong performance’ at Kwale

Base Resources Limited (AIM:BSE, ASX:BSE, FRA:B4Z)’s Kevin Balloch talks Proactive’s Andrew Scott through its FY21 highlights. He says Kwale operations performed strongly, maintaining operational continuity throughout the year with effective controls to mitigate COVID-19 risks and impacts, and…

7 hours, 47 minutes ago

3 min read

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