There have been changes in the shareholder structure at Base Resources Ltd (LON:BSE, ASX:BSE).
The group's biggest shareholder has lifted its stake in the company to 24.55% from 22.9%.
Pacific Road Capital bought over 12.2mln shares at an average of A$0.218 per share for a total sum of A$2,659.
Meanwhile, at the same time, Taurus Funds Management revealed it had decreased its interest in the firm to 11.34% from 14.12% by selling 20.6mln shares at A$0.22 per share for a total of A$4.532mln.
Earlier this month, the firm said it was in good shape to grow the business after its 2016 year at the Kwale mine in Kenya - its second in operation - saw output exceed expectations.
Driving up volumes yet keeping a rein on costs meant the company generated underlying earnings (EBITDA) of more than A$60 million, and with a revenue to cash cost ratio of 2:1, the group lies in the top few of the top quartile of mineral sands producers, Keith Spence, chairman told an AGM.