Company
LON:BSE
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.
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Rare earths & specialist minerals
"It has been an honour to chair the board since 2015, during which time we achieved many significant milestones of which I am very proud," said Keith Spence
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After more than six years in the chair, Keith Spence is moving on to be replaced by non-executive director Michael Stirzaker
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The company expects to see prices continue to increase for all of its products
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"Mining is now scheduled to continue on the Kwale South Dune until December 2023”
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Base has extensive mineral sands operations in Africa, and a well-established track record of production
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Additional exploration ground is being acquired in Kenya and Tanzania
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A definitive feasibility study is now underway to improve the accuracy of project estimates
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The company's products can be used in paint, paper and plastics as well as in toothpaste
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Combined, the 2021 Kwale Mineral Resources are estimated to be 254mln tonnes (Mt)
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The scale and high grade at the Toliara development are expected to underpin it “as one of the most competitive (and profitable) mineral sands operations in the world”
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The company achieved production guidance for all its products.
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A key Kenyan official's positive comments featured in domestic media, saying that iKwale's licence extension had been approved.
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Peel Hunt has a 22p price target which suggests some 45% upside for the AIM-quoted share.
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Prices for ilmenite and rutile trended upwards, and, the company has secured higher zircon prices.
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The African mineral sands producer said it is looking at the potential for mining a higher-grade sub-set of the North Dune and Bumamani deposits
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Base has a strong track record of operations in Africa
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The new data are part of a pre-feasibility study to assess the viability of mining the Kwale North Dune and Bumamani deposits
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The company offered the caveat that the inherent uncertainties associated with the coronavirus (COVID-19) pandemic could yet prevent the company from hitting its production targets
