BSE16 Feb 2013 12:06
Base Resources Limited (ASX:BSE AIM:BSE) is developing the world-class Kwale Mineral Sands Project in Kenya, East Africa. Kwale is an advanced and highly competitive project in a sector with a significant forecast supply shortfall widely expected to emerge in the medium term.
The Kwale Project represents an advanced development opportunity with all material project approvals, permits and licenses required for development secured, funding in place and construction of all project elements underway.
The Project enjoys a high level of support from the Government of Kenya as well as the local community and, located just 50km from Mombasa, Kenya's principal port facility, is well serviced by existing physical infrastructure.
Importantly, two pilot plant operations at Kwale provide confidence in processing behaviour and indicate a suite of readily marketable products. The Project's high value mineral assemblage and low stripping ratio result in a projected revenue to cash cost ratio that would place Kwale in the top quartile of world producers.
A realistic development time line should see the Kwale Project in production in the second half of 2013.