3rd Apr 2013 07:31
BASE RESOURCES LIMITED - Change in Directors InterestsBASE RESOURCES LIMITED - Change in Directors Interests
PR Newswire
London, April 3
Base Resources Limited (ASX:BSE, AIM:BSE) ("Base" or the "Company") advisesthat on 2 April 2013 directors of the company sold a combined 1.5 millionshares to provide funding towards meeting tax liabilities arising from thevesting of options in the 2012 financial year.
Managing Director Tim Carstens, and Executive Director Colin Bwye respectivelysold on market 507,328 and 992,672 ordinary shares in the Company at a price of43 cents per share.
Following the sales, Mr Carstens currently holds a total of 641,006 ordinaryshares in the Company (507,672 held directly and 133,334 held indirectlythrough SUMO Superannuation Fund of which Mr Carstens is sole beneficiary), andMr Bwye currently holds 1,251,223 ordinary shares in the Company (407,328 areheld directly, 362,414 are held indirectly through Mr Bwye's spouse, AnnetteBwye, and 481,481 are held indirectly through Bwye Superannuation Fund of whichMr Bwye is trustee and beneficiary).
The option holdings of each of the directors remain unchanged.
A full PDF version of the announcement is available at the Company's website:www.baseresources.com.au
ENDS
For further enquiries contact:
Winton WilleseeCompany SecretaryEmail: [email protected]: +61 (0)8 9413 7400RFC Ambrian Limited (Nominated Adviser and Broker)
As Nominated Adviser As BrokerAndrew Thomson or Trinity McIntyre Caspar Shand-KyddPhone: +61 (8) 9480 2500 Phone: +44 20 3440 6800 Corporate Details: Board of Directors:Andrew King Non-Executive ChairmanTim Carstens Managing DirectorColin Bwye Executive DirectorSam Willis Non-Executive DirectorMichael Anderson Non-Executive DirectorTrevor Schultz Non-Executive DirectorWinton Willesee Non-Executive Director/ Company Secretary Principal & Registered Office: Contacts: Level 1 Email: [email protected] Kings Park Road Phone: (08) 9413 7400West Perth WA 6005 Fax: (08) 9322 8912 About Base ResourcesBase Resources Limited (ASX:BSE, AIM:BSE) is developing the world-class KwaleMineral Sands Project in Kenya, East Africa. Kwale is an advanced and highlycompetitive project in a sector with a significant forecast supply shortfallwidely expected to emerge in the medium term.
The Kwale Project represents an advanced development opportunity with allmaterial project approvals, permits and licenses required for developmentcurrently in place, funding in place and construction of all project elementsunderway.
The Project enjoys a high level of support from the Government of Kenya as wellas the local community and, located just 50km from Mombasa, Kenya's principalport facility, is well serviced by existing physical infrastructure.
Importantly, two pilot plant operations at Kwale provide confidence inprocessing behaviour and indicate a suite of readily marketable products. TheProject's high value mineral assemblage and low stripping ratio result in aprojected revenue to cash cost ratio that would place Kwale in the top quartileof world producers.
A realistic development time line should see the Kwale Project in production inthe second half of 2013.
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