Kwale SML 23 extension - update

BASE RESOURCES LIMITED - Kwale SML 23 extension - update

PR Newswire

London, July 14

AIM and Media Release 

14 July 2021

BASE RESOURCES LIMITEDKwale SML 23 extension - update

African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources) notes recent reports in the Kenyan media regarding statements made by the Cabinet Secretary for the Ministry of Petroleum and Mining at a recent Kenyan Chamber of Mines conference that the proposed extension to the Kwale Special Mining Lease (SML 23) has been approved and that the licence will be issued soon. 

Base Resources looks forward to shortly finalising the form of Deed of Variation that will give effect to the proposed extension, at which time a further update will be provided to the market. 

The proposed SML 23 extension will incorporate the additional Kwale South Dune Mineral Resources that currently fall outside the footprint of SML 231.

[Note (1): For further information, refer to Base Resources’ announcement on 27 July 2020 “Updated Kwale South Dune Mineral Resources and Ore Reserves estimate”.]

ENDS.

For further information contact:

About Base Resources

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. Base Resources is an ASX and AIM listed company. Further details about Base Resources are available at www.baseresources.com.au

PRINCIPAL & REGISTERED OFFICELevel 3, 46 Colin StreetWest Perth, Western Australia, 6005Email: [email protected]Phone: +61 (0)8 9413 7400Fax: +61 (0)8 9322 8912

NOMINATED ADVISORRFC Ambrian LimitedStephen AllenPhone: +61 (0)8 9480 2500

JOINT BROKERBerenbergMatthew Armitt / Detlir EleziPhone: +44 20 3207 7800

JOINT BROKERCanaccord GenuityRaj Khatri / James Asensio / Patrick DolaghanPhone: +44 20 7523 8000