13th Jan 2020 11:17
(Alliance News) - Base Resources Ltd has upped 2020 guidance on Monday after discovering different mineral content than expected in a new orebody.
Perth, Australia-based Base moved to the South Dune orebody at the Kwale mineral sands project in Kenya in July.
Since then, it has founded higher rutile and less ilmenite than expected, with zircon largely as expected. As a result, separation efficiency has improved compared to the Central Dune ore that was mined previously.
Ilmenite and rutile are titanium ores, while zircon is used to make things such as ceramics and pottery more opaque.
As a result, Base now sees 2020 production of rutile between 75,000 tonnes and 81,000 tonnes, from 64,000 tonnes to 70,000 tonnes previously.
Ilmenite guidance has been raised to the range of 335,000 tonnes to 355,000 tonnes from between 315,000 tonnes and 350,000 tonnes, and zircon has been boosted to between 29,000 tonnes to 32,000 tonnes from 25,000 tonnes to 28,000 tonnes.
Base shares were untraded on Monday morning in London, last quoted at 11.66 pence each.
By George Collard; georgecollard@alliancenews.com
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