22nd Jan 2013 07:00
BASE RESOURCES LIMITED - Kwale Project Passes 50% Complete MarkBASE RESOURCES LIMITED - Kwale Project Passes 50% Complete Mark
PR Newswire
London, January 22
KWALE PROJECT PASSES 50% COMPLETE MARK
Base Resources Limited (ASX:BSE AIM:BSE) ("Base") is pleased to advise that thedevelopment of the Kwale Mineral Sands Project has achieved the milestone of50% complete.
With development continuing on schedule for completion in the third quarter ofthis year, the first bulk shipments of product are expected in the fourthquarter.
Further information on Base Resources and Base Titanium, the wholly ownedKenyan subsidiary developing the Kwale Project, is available at www.baseresources.com.au and www.basetitanium.com, including the latestprogress photos.
A full PDF version of the announcement is available at the Company's website: www.baseresources.com.au.
ENDS
For further enquiries contact:
Contacts:Base Resources LimitedTim CarstensManaging DirectorEmail: [email protected]: +61 (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 6800Tavistock Communications (UK Media Relations)Jos Simson/ Jessica Fontaine / Emily FentonPhone: +44 20 7920 3157Cannings Purple (Australian Media Relations)Annette Ellis / Warrick HazeldineEmail: [email protected]@canningspurple.com.auPhone: +61 (8) 6314 6300Corporate Details:Board of Directors:Andrew King Non-Executive ChairmanTim Carstens Managing Director Colin Bwye Executive DirectorSam Willis Non-Executive DirectorMichael Anderson Non-Executive DirectorTrevor Schultz Non-Executive DirectorWinton Willesee Non-Executive Director/ Company SecretaryPrincipal & Registered Office: Contacts:Level 1 Email: [email protected] Kings Park Road Phone: (08) 9413 7400West Perth Fax: (08) 9322 8912WA 6005About 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 developmentsecured, funding in place and construction of all project elements underway.
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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