Base Resources Interim Profit Plunges As Sales Volumes Fall
Mon, 22nd Feb 2021 10:09
(Alliance News) - Base Resources Ltd on Monday reported a plunge in profit for the first half of its financial year, as revenue declined on lower sales volumes, offset by a rise in the average price of products.
For the six months ended December 31, the Perth, Australia-based, Africa-focused miner posted pretax profit of USD1.0 million, down 92% from USD13.0 million a year before, on sales revenue that declined 13% year-on-year to USD72.8 million from USD83.5 million.
From its Kwale operations in Kenya, ilmenite production declined 13% to 144,363 tonnes, leading to sales dropping 22% to 129,300 tonnes from 166,653 tonnes.
BASE RESOURCES LIMITED - Kwale North and Bumamani Resources Estimates
PR Newswire
Key Points
As part of the pre-feasibility study currently underway to assess the viability of mining the Kwale North Dune and Bumamani deposits, seeking to extend the mine life of Kwale Operations, additional drilling and mineralogy assessments have been conducted.
The Kwale North Dune Mineral Resources estimate has increased by 13% to 194 million tonnes at an average HM grade of 1.5%, containing 2.9Mt HM, based on a 1% HM cut-off grade.
99% of the Kwale North Dune Mineral Resources estimate is now reported in the Measured and Indicated categories.
The maiden Bumamani Mineral Resources estimate is 5.9 million tonnes at an average HM grade of 1.9%, containing 0.115Mt HM, based on a 1% HM cut-off grade.
Mineral sands stocks on the ASX: The Ultimate Guide
197SHARES
A lesser understood, yet essential section of the resources sector is mineral sands, with several ASX-listed plays geared to take advantage of forecast supply gaps in the coming years.
The mineral sand suite is critical to numerous products found in everyday life from toothpaste to tiles, to the paint you put on your walls or the titanium metal used in human implants or found in aircraft and golf clubs.
Various minerals are included in the mineral sand suite, but the ones primarily sought from mining are ilmenite, leucoxene, rutile and zircon.