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Base Resources boosts profits with increased production

Base operates one of Africa's most significant mineral sands projects

1551081186_Kwale-workers.jpg
Workers at Kwale

Base Resources LTD (LON:BSE) offset lower grades at its Kwale mineral sands operation in Kenya with a 66% boost to output during the six months to December 2018, which meant that production was broadly flat when compared to the corresponding period a year ago.

WATCH: Base Resources' MD updates on quarterly highli ghts, production, and projects

In total the company produced 49,630 tonnes of rutile, 226,730 tonnes of ilmenite and 17,935 tonnes of zircon and sold into a strengthening market for rutile and zircon.

It all added up to a 13% increase in revenue to US$102.2mln, and a 4% increase in net profits after tax of US$17.4mln.

What’s more, Base also eliminated net debt during the period, an overall reduction of US$34.2mln.

 

Quick facts: Base Resources Limited

Price: 13.75 GBX

AIM:BSE
Market: AIM
Market Cap: £161.1 m
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