Base Resources sees improved ilmenite and rutile prices over the quarter

–News Direct–

Base Resources Limited (AIM:BSE, ASX:BSE) CFO Kevin Balloch talks Proactive through the companys September quarter highlights. Prices for ilmenite and rutile improved during the period while zircon prices softened on sluggish demand. Meanwhile, mining at the Kwale operations in Kenya will end in December 2024 with processing to stop shortly thereafter due to limited tailings storage capacity. Activity at Kwale will now turn to detailed closure planning and transition to post-mining land use and progression of its Toliara Project in Madagascar.

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. The Kwale South and North Dunes continued to be mined concurrently during the quarter, with two hydraulic mining units operating in each area. Mined tonnage was steady at 4.1 million tonnes (Mt) (last quarter: 4.1Mt). Mining rates in the North Dune improved during the quarter after the water pressure for one of the hydraulic mining units was boosted from the standard 25 bar to 32 bar. A second higher pressure hydraulic mining unit will be commissioned when mining commences on the Bumamani deposit in the March quarter of 2024. Consistent with mine plan, the heavy mineral (HM) grade of ore mined in the quarter was lower than last quarter at 2.5% (last quarter: 3.0%), and consequently, heavy mineral concentrate (HMC) production was lower at 84.8kt (last quarter: 103.2kt).

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/base-resources-sees-improved-ilmenite-and-rutile-prices-over-the-quarter-986454921

Base Resources Ltd

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