Base Resources releases Sept quarter report

Base Resources releases Sept quarter report

Base Resources (ASX:BSE) has revealed its September quarter activities report, with mined ore tonnes up by 35 per cent quarter-on-quarter following the successful implementation of the Kwale Phase 2 mine optimisation project. Record production of 25,125 tonnes of rutile and 9,683t of zircon was achieved during the three months to September, while net debt was reduced by US$9.4 million to US$23.8m. The Kwale project debt facility was also retired 20 months ahead of schedule.


HIGHLIGHTS

  • Mined ore tonnes increased by 35% in the quarter following the successful implementation of the Kwale Phase 2 mine optimisation project.

  • Record production of 25,125 tonnes rutile and 9,683 tonnes of zircon for the quarter.

  • Continued strengthening of rutile and zircon prices.

  • No lost time or medical treatment injuries.

  • Exploration drilling at Kwale Operations North Dune completed.

  • Preferred development options for mining, processing and infrastructure selected for the Toliara Project.

  • Net debt reduced by US$9.4 million to US$23.8 million.

  • Kwale Project Debt Facility retired 20 months ahead of schedule

African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) is pleased to provide a quarterly corporate, development and operational update.

The main focus at the Kwale Mineral Sands Operations (Kwale Operations) in Kenya, was ongoing optimisation of the recently upgraded wet concentrator plant (WCP) recoveries and preparation for relocating mining operations to the South Dune in July 2019, together with exploration drilling programs in pursuit of mine life extensions.

The Company progressed its Toliara mineral sands project (Toliara Project) in the south-west of Madagascar with a range of mining, processing and infrastructure options evaluated and preferred development options selected in the quarter. The project remains on track to complete the Pre-Feasibility Study in Q1 2019, ahead of a Definitive Feasibility Study phase and planned decision to proceed to construction in Q4 2019.

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