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As of 1:45 AM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

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09/19/14 - A$0.31
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base resources ltd (BSE) Details

Base Resources Limited explores, evaluates, and develops mineral resources in Africa. The company primarily operates the Kwale Mineral Sands mine located in Kenya, East Africa. It also has an option to purchase Mambrui, Kilifi, and Vpingo exploration projects located along the coast to the north of Mombasa. The company is based in West Perth, Australia.

662 Employees
Last Reported Date: 09/16/14

base resources ltd (BSE) Top Compensated Officers

Managing Director and Executive Director
Total Annual Compensation: A$569.0K
Chief Financial Officer
Total Annual Compensation: A$380.4K
Executive Director of Operations & Developmen...
Total Annual Compensation: A$551.6K
General Manager of Operations
Total Annual Compensation: A$543.9K
General Manager of Environment & Community Af...
Total Annual Compensation: A$480.5K
Compensation as of Fiscal Year 2014.

base resources ltd (BSE) Key Developments

Base Resources Limited Reports Cash Flow Results for the Twelve Months Ended June 30, 2015

Base Resources Limited reported cash flow results for the twelve months ended June 30, 2015. For the period, the company reported net operating cash flows of AUD 25,918,000 against AUD 38,214,000 a year ago. Purchase of other fixed assets was AUD 2,879,000 against AUD 9,129,000 a year ago. Payment for purchase of exploration was AUD 6,000 against AUD 96,000 a year ago.

Base Resources Limited Provides Quarterly Operational Update at its Kwale Mineral Sands Operations Ended June 30, 2015

Base Resources Limited provided a quarterly operational update at its Kwale Mineral Sands Operations in Kenya, East Africa. With the consistent achievement of design availabilities and throughputs in both the wet concentrator plant (WCP) and mineral separation plant (MSP) and recoveries in the WCP, the focus remains firmly on continuing to drive product recovery and throughput increase opportunities in the MSP. Reported volume includes 22,340t which was reversed after it was determined that the terms of the sales agreement did not satisfy revenue recognition criteria at the time of shipment. The product was sold in later quarters. Average mined ore grades remained high at 9.2% heavy mineral (HM) as mining continued through a high grade section of the Central Dune ore body (9.3% HM during the previous quarter and 8.6% year to date). Tonnage mined remained steady at 2.3Mt in the quarter. Above design WCP availabilities of 89% for the quarter (84% in the previous quarter) have offset the marginally lower HM grades, allowing quarterly HMC production to remain steady at 206kt, continuing to exceed design and allowing for the building of a HMC inventory of 114kt as part of risk management and production optimisation plan. Slime and sand deposition in the Tailings Storage Facility continued to operate according to plan. The Mukurumudzi Dam volume increased to full capacity of 8.6GL with the onset of the ‘long rains’, the main wet season of the year. MSP throughput of 169kt was 6% higher than the previous quarter due to a combination of marginally higher MSP availability at 94% (93% in the previous quarter) and higher average feed rate of 82tph (80tph in the previous quarter). The increased MSP feed rate achieved in the quarter was the result of plant optimisation, with further rate increases from planned modifications expected during the course of 2015. Rutile production for the quarter of 19.5kt represented an increase of 16%, predominantly due to higher throughputs achieved and average MSP recoveries of 98% (91% in the previous quarter). A proportion of this improvement (429t of rutile product) was attributable to the implementation in June of a programme to retreat an accumulated rutile oversize reject stockpile, which will continue into the next quarter. After adjusting for retreat gains, underlying rutile recoveries increased 5% this quarter to 96% and are now approaching the design target of 97%. Further improvements are expected from planned modifications to be progressively completed over the remainder of 2015, notably a larger rutile screen and additional magnet stages. Ilmenite production continued above design capacity, increasing 7% to 113kt due to further improvements in MSP recoveries (109% versus 105% in the previous quarter) and increased MSP throughput. With some altered ilmenite species that are not defined as “ilmenite” in the Resource being recovered to ilmenite production, ilmenite recoveries (or yields) of over 100% are now consistently being achieved. Zircon production improved gain during the quarter, consistent with the planned ramp-up to design capacity. Average recoveries increased to 62% from last quarter’s 54% and production was further boosted through the higher MSP throughput. Planned upgrades to the wet zircon pumping systems have been deferred to the September quarter due to delays in delivery of the requisite equipment. The wet zircon pumping system upgrade is intended to increase recoveries by providing greater flow control and flexibility. Further improvements to primary magnet separation capacity and efficiencies are planned during the course of 2015, which, along with on-going optimisation work, is expected to further improve zircon recovery towards design levels of 78%. With the aim of maximising overall zircon recoveries and revenue, Base is progressing with plans to upgrade non-magnetic tailings streams to produce a saleable zircon low grade product on an ongoing basis. Implementation has unfortunately been delayed to the September quarter as a consequence of the delays in the upgrade of the wet zircon circuit discussed. Bulk loading operations at Base’s Likoni Port facility continued to run well, dispatching more than 100,000 tonnes during the quarter directly to customers. Sales continue to be made from Base’s China warehouse as part of strategy for securing market share in China by offering product for immediate delivery and in smaller volumes than could be justified for a shipment direct from Kenya. By adopting this strategy, Base is tapping into smaller scale customers not able to commit to large shipment volumes and also able to offer prospective large new customers sample size volumes for testing. Containerised shipments of rutile and zircon proceeded according to plan. Cash operating costs for the quarter (inclusive of royalties) were USD 13.5 million, lower than the USD 14.2 million of the prior quarter. Costs per tonne produced (rutile, ilmenite and zircon) were considerably lower at USD 97 than the USD 111 of the prior quarter, due to the combination of lower total costs and higher production volumes this quarter. Operating costs in the coming quarter are expected to increase due to mid-life servicing of mobile mining fleet. It can be expected that maintenance costs will trend up over time as the plant and equipment ages.

Base Resources Limited, Annual General Meeting, Jul 06, 2015

Base Resources Limited, Annual General Meeting, Jul 06, 2015., at 11:00 W. Australia Standard Time. Location: Katitjin Centre, Australian Institute of Management. Agenda: To consider ratification of issue of Financing Options; to consider extension of expiry date of 2010 Options; and to consider any other business brought forward in accordance with the company's constitution or the law.


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