1st Jul 2015 08:01
LONDON (Alliance News) - Base Resources Ltd Wednesday said all of the operational components at the Kwale mineral sands project in Kenya have passed project completion tests and met all the standard requirements.
"All operational requirements for achieving project completion have been successfully passed, including the following physical and economic tests conducted over a continuous 90 day test period," said Base.
The company tested components for mining production throughput, ore grade and ore reserve reconciliation, concentrator and mineral separation, plant throughput, individual product recoveries, product quality against offtake contract requirements, minimum quantities of each product shipped, adequacy of both water and power supply over both the test period and the planned future operation, it said in a statement.
"Base is working to finalise the remaining regulatory and compliance components of project completion, including funding of the debt service reserve account, by the backstop completion date of September 30, 2015," said Base.
Base shares were down 1.8% to 7.00 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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