20th Jan 2016 10:45
LONDON (Alliance News) - Base Resources Ltd on Wednesday said its rutile and zircon production hit a record in the fourth quarter of 2015, with recoveries of both commodities stronger due to upgrades to its equipment and processes.
Base said its rutile production rose to 21,768 tonnes in the quarter, up from 18,672 tonnes a year earlier and an increase on the 20,926 tonnes produced in the third quarter. The group said the boost resulted from the installation of a magnet stage at its mineral separation plant.
Zircon production increased to 7,507 tonnes in the quarter, against 5,308 a year earlier and 6,546 in the third quarter, boosted by the group's ongoing circuit optimisation programme at the site.
Ilmenite production in the fourth quarter edged up year-on-year to 109,649 tonnes, from 107,893 a year earlier, but fell against the third quarter, when 116,121 tonnes were produced.
Base said its ilmenite and rutile production is now in line with its plans, so its focus will be on increasing its zircon recovery through further improving its processes.
Base set out it production guidance for 2016. It expects to produce 80,000 to 84,000 tonnes of rutile, up from 78,947 tonnes in 2015; 430,000 to 450,000 tonnes of ilmenite, flat with 444,999 in 2015; and 27,000 to 30,000 tonnes of zircon, up from 25,951 tonnes.
Shares in Base were untraded on Wednesday, having last traded at 2.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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