20th Aug 2021 11:54
Base Resources Ltd - West Perth, Australia-based mineral sands producer and developer with assets in Kenya and Madagascar - Updates estimates for mineral resources in the Kwale project in Kenya, to reflect the expansion of the project and the depletion from mining. As of June 30, Kwale is expected to have 254 million tonnes of mineral resources, of which 4.7 million tonnes is heavy minerals. A year prior, Kwale had 246 million tonnes of mineral resources of which 4.9 million tonnes was heavy minerals.
The level of ore reserves, referring to the amount of mineral resources that can be economically mined, remains 40 million tonnes. The estimate for heavy minerals that can be economically mined is lowered to 1.3 million tonnes from 1.4 million tonnes.
Current stock price: 15.85 pence, up 2.3% on Friday
Year-to-date change: up 3.9%
By Ivan Edwards; [email protected]
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