Merrill Lynch funds in Australia have bought into Base Resources (LON:BSE) in a big way, following the sale of a significant interest last week by Taurus Funds.
Two Merrills funds bought a total of just over 40 mln shares, amounting to around 5.37% of the company.
Base has recently announced increased resources at its Kwale project in Africa, and is enjoying the benefits of increased zircon prices.