Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
As I said, avoid like the plague !
It appears China has killed this one off unsurprisingly, avoid like the plague!
"neutral" stance and a 7p target, wouldn't take a punt on it just yet though in the current global climate
http://allafrica.com/stories/201510220812.html Still not worth investing though at this point imo
Revenues well up and losses increase, not a time to be invested imo
With the China slump still evident I can't see any recovery here for the SP unfortunately
http://seekingalpha.com/article/3368135-base-resources-had-an-excellent-quarter-until-you-dig-a-bit-deeper Borrowing to repay debt? Still cold on this one for now
On a more positive note: Base entered into two ilmenite offtake agreements for a total of 240,000 tonnes. The Kenyan government has started to repay the VAT it owes to Base, and this will help to reduce the company's net debt position. Q4 production levels were achieved for ilmenite (113,500t), rutile (19,500t) and zircon (6,500t). A strong cash position of A$40.9m (unrestricted) and A$6.5m (restricted). Q4 Revenue for the quarter stood at A$47.6m, up 45% from the March quarter’s A$32.8m. Achievement of the project completion tests should also improve financial flexibility for the company, enabling cash to be drawn from the project to the corporate level. Most important factor to take into account is that Base is free cash flow positive with net operating cash flow of A$25.9M and the Tio2 Market and feedstock prices are at a record low and recovering from oversupply. This makes Base a very strong cash generator as prices recover in the near future. The only issue for us seems to be the lack of liquidity or media coverage.
Not looking great here and pleased I'm out of it, can't see any clouds let alone a silver lining right now which is a shame, I had high hopes for BSE in the long term, the perils of mining in Kenya I'm afraid
ASX, AIM and Media Release 3 June 2015 US$17 million Drawdown on Taurus Facility Base Resources Limited (ASX & AIM: BSE) (“Base” or the “Company”) advises that it has lodged a utilisation notice for the remaining US$17 million of the unsecured debt facility with Taurus Funds Management (“Taurus Facility”), with an expected drawdown date of 18 June 2015 (“Utilisation Date”). It is anticipated that these additional funds will be utilised to satisfy the US$15 million liquidity injection required under the terms of the Kwale Project Debt Facility restructure, completed in November 2014, and to provide parent corporate working capital. Further details about the Taurus Facility are provided in the Company’s announcement dated 23 December 2014. In accordance with the terms of the Taurus Facility, Taurus will be issued with 30,712,530 unlisted options to acquire new fully paid ordinary shares. The options will be issued for nil cash consideration on the Utilisation Date, with each option having no vesting conditions and being exercisable at A$0.40 on or before 31 December 2018. ENDS Looks like they were forced to drawdown on the backup facility due to lack of VAT payback before end of Q4. (Joke) Once again we can thank Mr Blabla for helping improve relations and speeding things up with the KRA. see (http://allafrica.com/stories/201505120382.html) Good news is that things look brighter moving forwards
(Joke) Looks like the Secretary of Mines Blabla wants to single handedly become CEO of all mining projects in the country. Having never run a mining project himself. Perhaps his background in Tea sales has prompted him to elevate his horizons. Of course, all in the name of returning the wealth to the good people of the country. His Mining company will soon be applying for charitable statues and be exempt of Tax. (Joke) Perhaps his public attacks on BSE reflects the lack of Kickback he received. Read (http://www.standardmedia.co.ke/article/2000159545/dpp-rejected-move-to-clear-cs-balala-of-sh80m-bribe-claim) However the paranoid me is also thinking someone should do some sniffing to see if he doesn't have links to a foreign vehicle which is now buying the shares at a great discount. - Nothing surprises me anymore. Money has no morals PS nice rise on the ASX this week - bid offer spread on AIM tighter now. Enjoy the weekend all!
The mineral sands miner, which is upping production at its Kwale mine in Kenya, has hit back at media accusations of not paying enough royalties, agreeing to corrupt contracts, and operating in an unfavourable mining jurisdiction which does not require transparency and clear financial reporting, saying that such allegations are unfounded attempts to undermine its project, looks like the Kenyans are at it again!
Base Resources is trading at just $0.095 per share, I can definitely see an upward potential of approximately 50% at the current ilmenite price. However, the value of the company is now much lower than the value I derived in my previous article last year. This is obviously a direct result of A) a lower ilmenite price and B) increasing the discount rate of the NPV calculation from 8% to 10%. If I would have used a discount rate of 8% in the last scenario, the NPV of the company would increase by another $30M. There is however no room for error and as it will take much longer to repay the debt facility, Base might need to refinance the debt once again. Fortunately the rutile and zircon prices are holding up pretty well, and this should allow Base to continue to produce its ilmenite at a zero cost. So basically Base is a (relatively safe) call option on the ilmenite price but you definitely need to keep an eye on its net debt position. http://seekingalpha.com/article/3168806-base-resources-still-shows-potential-but-the-ilmenite-price-causes-headaches
Can't see it going down much further, don't like the spread much either, more of a punt now
Is it just me or does this share seem cheap? Also looks like the TiO2 market has hit a low and is now looking better going into 2016-17. Hopefully the VAT payback happens before Q4 finished.
The ASX has a more liquid market in these shares
Considering the size of this operation, the lack of liquidity is amazing.
Kenmare takeover offer helping to push the price up here, may see further consolodation yet
http://www.indmin.com/Article/3446833/TiO2Zircon/Base-Resources-nudges-Kenyan-government-for-VAT-refund-to-help-clear-loan.html Every little helps but I'm hot holding my breath!
Glad I'm out as well, this showed a lot of promise at the beginning, nice rise today though
Shouldn't the board issued an Rns along the lines of, 'the company knows of no reason for the fall in share price,' to allay shareholders fears or is the fall purely related to a fall in commodity prices. So glad I got out low 20's for a slight loss.
Both brokers with share price targets double current price... theory being 2015 a year of good production volume... lets see