Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. 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.
According to Broker Target Price = 30p - - - is double current price - - - market cap 169 million - - -
just my opinions expressed here DYOR
Strong Buy
29 April 2019
BASE RESOURCES LIMITED
Quarterly Activities Report – March 2019
HIGHLIGHTS
Toliara Project PFS released, confirming the Company’s view that the Toliara Project is a world class mineral sands project.
Transition of mining to the South Dune is on schedule for June 2019.
Strengthening of rutile and ilmenite prices while zircon prices moderate.
Production guidance for FY20 released.
No lost time or medical treatment injuries.
Drilling commences within the Vanga prospecting licence in Kenya.
Toliara Project DFS commences, due for completion in the December 2019 quarter.
African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) is pleased to provide a quarterly operational, development and corporate update.
Kwale Mineral Sands Operations (Kwale Operations) in Kenya continued to focus on maximising mineral recoveries under a high tonnage, low grade regime, together with progressing preparations for relocating mining operations to the South Dune orebody in June 2019. In pursuit of further mine life extension, drilling of the Vanga exploration license also commenced on 1 April 2019
.
Base Resources released the pre-feasibility study (PFS) for its Toliara mineral sands project (Toliara Project) in the south-west of Madagascar, which confirmed the Company’s view that the Toliara Project is a world class mineral sands project[1]. The Toliara Project continued to progress with all workstreams on schedule to complete the definitive feasibility study (DFS) in the December 2019 quarter.
Graphics referenced in this release have been omitted. A full PDF version of this release, including all graphics, is available from the Company’s website: www.baseresources.com.au
.
[Note (1): For further information about the Toliara Project PFS outcomes refer to Base Resources’ market announcement on 21 March 2019 “Toliara Project PFS confirms status as a world-class mineral sands development� available at https://www.baseresources.com.au/investor-centre/asx-releases/.]
Broker Target is 28
Today.
No movement
Certainly one to keep an eye on. Personally I'm inclined to wait until production starts at Toliara.
Daily mail tip...was wondering why so much interest :)
And another ,well ,well over ask !
£39k buy .
great to see another broker with a target above 30p - Also today's report made for great reading, rising commodity prices and net debt now down to $33 million on this 100% owned project - interesting times ahead
Nice RNS advising of a 0.5m share purchase by one of the directors, very welcome.
I was initially attracted to this share by its free cash flow and the likelihood of being debt free by end of 2018. However on digging further it would appear that the life of the Kwale mine extends only to 2021 and that its cashflow is earmarked for the development of the new mine in Madagascar. Any views? On the positive side it's on a forward PE of only 3.37! Can anyone point me to a free website showing the current price of Imenite and rutile?
Afternoon. Short TV interview with Base Resources MD Tim Carstens here: www.fmp-tv.co.uk/company/base-resources-investor-video/
https://www.baseresources.com.au/wp-content/files/Presentation_-_Investor_update_-_April_2018.pdf Link above
An interesting update posted onto the website showing the development of the business and current status of the relevant assets as well as future potential.
Was reported then cancelled now reported again........ Looks like a big sell and reason SP has been slipping recently.
gb - I agree been reading it - makes very good reading actually... 440% profit increase and 50% debt decrease? Nice.
EPS about 3p debt reducing, outlook good target 24p - 35p 12-24 months. Very Impressed indeed has to re-rate in 2018 surely?
It appears now that the liars at Hunter Hall have finally gone and their holding has been moved to another II at 17p. This might be a good time to take a position here.
Still under the radar it seems... more excellent news...
very nice update... very nice figures! UTR share: "Record sales volumes of 501,676 tonnes of ilmenite (FY2016: 480,538 tonnes), 91,991 tonnes of rutile (FY2016: 85,536 tonnes), 34,566 tonnes of zircon (FY2016: 33,062 tonnes) and 9,501 tonnes of zircon low grade (FY2016: Nil). Sales revenue was $215.5 million (FY2016: $169.0 million), achieving an average price of product sold (rutile, ilmenite, zircon and zircon low grade) of $338 per tonne, or US$255 per tonne, (FY2016: $282 per tonne or US$205 per tonne) with the main driver being the rising ilmenite price. Total cost of goods sold increased to $88.6 million (FY2016: $86.6 million) due to the 6% increase in sales volume, with underlying costs remaining steady at an average cost of $139 per tonne, or US$105 per tonne of product sold, (FY2016: $144 per tonne or US$105 per tonne). The continued focus on cost management achieved a slight reduction in operating costs per tonne produced to $114 per tonne, or US$86 per tonne, (FY2016: $121 per tonne or US$88 per tonne). The Kwale Operation achieved a revenue to cost of sales ratio of 2.4:1, comfortably positioning it in the first quartile of mineral sands producers. Improved sales volumes, commodity prices and a continued focus on cost management has delivered an 81% increase in Group EBITDA of $109.7 million (FY2016: $60.6 million). Cash flow from operations was $100.2 million (FY2016: $78.6 million). Free cash flow of $68.8 million contributed to the significant reduction in net debt of $76.0 million, bringing net debt to $128.2 million (US$98.5 million) at year end. Repayments of $11.6 million (US$8.2 million) were made against the Taurus Debt Facility during the reporting period, reducing the outstanding balance to US$11.8 million. The Taurus Debt Facility was subsequently retired in July 2017 (refer to the market release on 18 July 2017)."
debt paid off... looks like they are doing well enough to do so...