All tagged Base Resources ASX:BSE
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.
Base Resources (ASX:BSE) will repay an outstanding $US215 million owed under the existing Kwale project debt facility next week, via a combination of cash reserves and utilisation of the existing revolving credit facility following a concurrent RCF increase from $US30m to $US75m. Early retirement of the facility comes on the back of continued strong performance of Base's Kwale operations and provides the group with additional funding flexibility and reduced debt servicing costs.
Base Resources (ASX:BSE) has released its latest corporate presentation, ahead of day two of the Africa Down Under Conference in Perth today. Managing director Tim Carstens addressed the conference shortly after the release of the presentation.
Base Resources (ASX:BSE) has released its full-year results for the 12 months to June 30, with record revenue and net profit after tax. During the 2018 financial year, Base increased net profit by 114 per cent to $US34 million while revenue grew 22 per cent to $US198.8 million. Net debt was reduced by $US65 million to $US33.2 million. During the reporting period, Base progressed its long-term strategy with the acquisition of the Toliara sands project in Madagascar, and optimised its Kwale operation in Kenya.
Base Resources (ASX:BSE) has released its quarterly corporate, development and operational update for the three months to June 30. At the company's Kwale mineral sands operations in Kenya, the focus has been on ramping up mining rates and optimising the wet concentrator plant recoveries following commissioning of the Kwale Phase 2 upgrade. Work also continued on the Toliara mineral sands project in Madagascar, with the appointment of Lycopodium for the delivery of a pre-feasibility study.
Base Resources (ASX:BSE) has appointed partners Mineral Technologies and Lycopodium to deliver the Pre-Feasibility Study for its Toliara mineral sands project in Madagascar. The partners have strategically aligned to bring together industry leading innovation and technical and project delivery skills to support Base in the delivery of the world-class mineral sands project. The partners have undertaken studies and projects in minerals sands.
Base Resources (ASX:BSE) has released a quarterly corporate, development and operational update for its Kwale mineral sands operations in Kenya. Corporately, completion of the acquisition of the Toliara sands project and associated capital raising has allowed project development activities to now commence. Operationally, the focus has been on finalising the Kwale Phase 2 mine optimisation project with commissioning of the expanded wet concentrator plant underway and progressing to plan.
Base Resources (ASX:BSE) has released promising results for the six months to December 31, with net profit up a massive 466 per cent to $21.5 million compared to the previous corresponding period. Net debt was reduced by $44.1 million over the half-year with $84.1 million outstanding at the end of the period. Group EBITDA was up 58 per cent to $69.3 million. Sales revenue from the Kwale operation grew by 28 per cent, to $115.9 million.
Base Resources (ASX:BSE) has announced the appointment of Diane Radley to its board as an independent non-executive director, effective February 1. Diane brings significant and diverse African, business leadership, strategy and financing experience to the company. She is currently a director of Murray & Roberts Holdings, chairs the board of Marriot Unit Trust Company, and is a trustee of the DG Murray Trust.
Base Resources (ASX:BSE) has announced the completion of its acquisition of an initial 85 per cent stake in the Toliara sands project in Madagascar from World Titane Holdings, for $US75 million. Base will acquire the remaining 15 per cent stake for a further $US17 million, payable on achievement of key milestones as the project advances to mine development.