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Base Resources is loving what it’s seeing

Published: 11:16 14 Jul 2016 BST

Kenya-focused mineral sands operator Base Resources (ASX:BSE, LON:BSE) has been somewhat cushioned from the impact of slumping mineral prices by virtue of having a very high revenue-to-cash-cost ratio at its Kwale asset some 50 km south of Mombasa.

That does not mean it does not welcome signs of a turnaround for the sector.

“We’re starting to see the change in the last few months for the first time in three years,” Base’s managing director, Tim Carstens, tells Proactive Investors.

Supply has been taken out of the market, demand has been picking up and Base is starting to see “some more positive behaviour” from its customers.

This is something the market has picked up on, as the share price has “bounced quite sharply”, doubling in the last three months.

“The long awaited return to a rational market seems to be happening,” Carstens said.

“We’re loving what we’re seeing”.

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