viewBase Resources Limited

Base Resources draws down US$75mln of previously arranged debt, operations at Kwale continuing

Base has built up a consistent track record of cash generation from Kwale

Base Resources Limited -

Base Resources Ltd (LON:BSE) said it has drawn down the full US$75mln available under its existing revolving credit facility.

As at February, 29, 2020, Base had cash reserves of US$37.7mln and no debt.

Under the terms of the revolving facility, there are no mandatory repayments until June 30, 2021, when the available facility reduces to US$50mln. The final maturity date is December 31, 2021. 

Base Resources said it's significant combined cash reserves make it well placed to emerge from the current crisis in sound financial shape and to capitalise on appropriate emergent opportunities.

It added that, supported by sound customer demand, production at the company’s Kwale mineral sands operation in Kenya has continued uninterrupted, with broad health and safety procedures implemented to minimise the risk of coronavirus to personnel and surrounding communities.

Quick facts: Base Resources Limited

Price: 14 GBX

Market: AIM
Market Cap: £164.92 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Base Resources Limited named herein, including the promotion by the Company of Base Resources Limited in any Content on the Site, the Company...


Base Resources says production remains uninterrupted with Kwale operations...

Base Resources Limited's (LON:BSE) (ASX:BSE) chief financial officer Kevin Balloch talks Proactive's Andrew Scott through its September quarter highlights. It produced 65,863 tonnes of ilmenite and 15,513 tonnes of rutile in the third quarter, versus 84,843 and 19,035 respectively in the second...

5 days, 6 hours ago

2 min read