Base Resources - Quarterly Activities Report ending March 2016
Base Resources $BSE announced record zircon production & sales for the March quarter. Zircon recoveries now at 76%, close to target of 78%. Production guidance for FY2016 has been increased slightly to 82-86kt rutile, 440-455kt ilmenite, 29-31kt zircon.
- Record zircon production and sales achieved.
- Continued improvement in Zircon recoveries with 76% achieved for the month of March towards a target of 78%.
- No lost time injuries.
- Increase in production guidance for financial year 2016 to:
- Rutile - 82,000 to 86,000 tonnes;
- Ilmenite – 440,000 to 455,000 tonnes; and
- Zircon – 29,000 to 31,000 tonnes.
- Successful completion of an accelerated pro rata renounceable entitlement offer, raising gross proceeds of approximately A$10 million.
Base Resources Limited (ASX & AIM: BSE) (“Base Resources” or the “Company”) is pleased to provide a quarterly corporate and operational update for its Kwale Mineral Sands Operations (“Kwale Operations”) in Kenya, East Africa. Operationally, the quarter has been one characterised by consistent production, further enhanced plant performance in throughput and zircon recovery and sound cost control.