1st Oct 2021 07:57
Base Resources Ltd - mineral sands developer with assets in Kenya and Madagascar - On Thursday announces deal with the Kenyan government to extend the mining lease boundary at Kwale to cover additional ore reserves. In return, Base will pay 5% royalties to the government, up from 2.5%. Company adds that it always expected to pay 5% royalties and made provisions for this. The changes will lead to a net USD3.2 million expense in the company's financial statements.
Current stock price: 15.50 pence, up 5.1% on Thursday
Year-to-date change: up 1.6%
By Ivan Edwards; [email protected]
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