Proactive Spotlight:
Base Resources Ltd (LON:BSE) is benefiting from a strong recovery in ilmenite prices with further hikes already locked in for the coming quarter.
June quarter prices are 200% higher than at the start of the financial year said the miner, which operates the Kwale minerals sands mine in Kenya.
In addition, Base produced a record 23,107 tonnes of the more valuable rutile in the three months just past.
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This helped average sale prices per tonne across its portfolio rise to US$258 per tonne from US$250 and US$208 three months and a year ago respectively, though costs were also higher.
Base is bullish on the future. Ilmenite, an oxide of titanium, is used to make white pigments and the industry went from 'strength to strength' through the March quarter it said .
Other Proactive News Stories:
The specialist engineer Hayward Tyler Group PLC (LON:HAYT) has unveiled new orders worth £3.7mln. They include £1mln-worth of after-market business, a £1.5mln deal to deliver eight electric submersible motors and two contracts worth £1.2mln to supply three glandless boiler circulating pumps.
WATCH: New orders "encouraging", says Hayward Tyler CEO ...
Tungsten mining specialist W Resources PLC (LON:WRES) has made further progress in the development of its La Parilla project in south-western Spain with the award of a key vendor-financed contract.
Gold miner Pan African Resources plc (LON:PAF) said it is raising US$123mln via an issue of equity and debt to fast-track the build of the Elikhulu Tailings Project in South Africa. The company Wednesday unveiled plans for a US$51mln share placing, with stock offered 14p, a modest discount to last night’s closing price.
Asiamet Resources Limited (LON:ARS) told investors that ongoing resource definition drilling continues to intersect thick intervals of copper mineralisation at the BKM project in Indonesia. The programme comes as part of work towards the completion of feasibility studies.
WATCH: Asiamet’s BKM project “developing quite nicely”, says analyst …
Providence Resources PLC (LON:PVR) told investors it is making preparations for future appraisal drilling activities at Barryroe. The company, which is still progressing farm-out talks for Barryroe, said that the appraisal and potential development of Barryroe remain key objectives.
Chaarat Gold Holdings Ltd (LON:CGH) has raised US$15mln through the issue of short term senior secured convertible loan notes. The notes are convertible at a price of 30p per share and redeemable in September 2018.
WATCH: Zak Mir on Charaat Gold …
IronRidge Resources Limited (LON:IRR) has signed off on its joint venture with Enchi Proci for the Gboguhue gold licence application in the Ivory Coast. The deal is one of a series that have given Ironridge earn-in rights to three granted licences and three applications covering a total of 2,310 sq km within the Ivory Coast.
Stem cell storage specialist WideCells Group PLC (LON:WDC) has raised £649,000 through a private placing to speed up development of its three main divisions, CellPlan, WideCells and WideAcademy.
Property fund manager and investor First Property Group PLC (LON: FPO) has announced that its UK Property Pension Portfolio fund has been awarded best "Small Specialist Fund" by indexes and analytics provider MSCI as part of its annual UK Property Investment Awards 2017.