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

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  • Base Resources says Bumamani pre-feasibility study supports extension of Kwale mine life
  • 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.

03 Sep 2021

Base Resources Ltd () said the results of a pre-feasilibility study (PFS) of the Bumamani deposit support the extension of the life of its Kwale mineral sands mine in Kenya to mid-2024.

The PFS has concluded that it is economically feasible to mine smaller, higher-grade subsets of the Bumamani deposit and the Kwale North Dune deposit (referred to as P199) concurrently with the Kwale South Dune deposit, which would extend the mine life of Kwale by 7.5 months to July 2024, the AIM-listed company said.

The extension gives Base Resources time to develop further opportunities in Kenya, while maintaining operational continuity.

The company said a definitive feasibility study is now underway to improve the accuracy of project estimates.

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31 Aug 2021

Base Resources Ltd, a mineral sands producer and developer, reported a decline in full-year earnings as lower production outweighed higher prices for its products.

In the year to end June 2021, group EBITDA fell to US$94.6mln (GBP68.7mln), from US$108.7mln the previous year, as revenue dipped 5% to US$198.2mln. The company announced its annual production figures last month.

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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.

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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…

4 days, 2 hours ago

3 min read

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