Last checked at 18 Jan 2013 07:00
BASE RESOURCES LIMITED - Change in Significant ShareholdingBASE RESOURCES LIMITED - Change in Significant Shareholding
PR Newswire
London, January 18
Change in Significant Shareholding
Base Resources Limited (ASX:BSE AIM:BSE) ("Base" or "the Company") is pleasedto advise that it has been notified on 18 January 2013, that significantshareholder Aterra Investments Limited (and its related parties SungrebeInvestments Ltd and Alexey Mordashov) (together "Aterra") has purchased, atprices of between A$0.2532 and A$0.3500 per ordinary share, 4,582,546 ordinaryshares in Base. This has increased Aterra's shareholding in Base to 30,711,971ordinary shares, representing a total shareholding of approximately 5.48% ofthe issued share capital of the Company.
Sungrebe Investments Ltd is the 100% shareholder of Aterra Investments Limited,and Alexey Mordashov controls both Sungrebe Investments Ltd and AterraInvestments Limited.
A full PDF version of this notification, as provided to the Company and lodgedwith the ASX, is available at the Company's website: www.baseresources.com.au.
ENDSContacts:Base Resources LimitedTim CarstensManaging DirectorEmail: tcarstens@baseresources.com.auPhone: +61 (8) 9413 7400RFC Ambrian Limited (Nominated Adviser and Broker)As Nominated Adviser
As BrokerAndrew Thomson or Trinity McIntyre Caspar Shand-KyddPhone: +61 (8) 9480 2500
Phone: +44 20 3440 6800Tavistock Communications (UK Media Relations)Jos Simson / Jessica Fontaine / Emily FentonPhone: +44 20 7920 3157Cannings Purple (Australian Media Relations)Annette Ellis / Warrick HazeldineEmail: aellis@canningspurple.com.auwhazeldine@canningspurple.com.auPhone: +61 (8) 6314 6300Corporate Details:Board of Directors:Andrew King Non-Executive ChairmanTim Carstens Managing Director Colin Bwye Executive DirectorSam Willis Non-Executive DirectorMichael Anderson Non-Executive DirectorTrevor Schultz Non-Executive DirectorWinton Willesee Non-Executive Director/ Company SecretaryPrincipal & Registered Office: Contacts:Level 1 Email: info@baseresources.com.au50 Kings Park Road Phone: (08) 9413 7400West Perth Fax: (08) 9322 8912WA 6005About Base ResourcesBase Resources Limited (ASX:BSE AIM:BSE) is developing the world-class KwaleMineral Sands Project in Kenya, East Africa. Kwale is an advanced and highlycompetitive project in a sector with a significant forecast supply shortfallwidely expected to emerge in the medium term.
The Kwale Project represents an advanced development opportunity with allmaterial project approvals, permits and licenses required for developmentsecured, funding in place and construction of all project elements underway.
The Project enjoys a high level of support from the Government of Kenya as wellas the local community and, located just 50km from Mombasa, Kenya's principalport facility, is well serviced by existing physical infrastructure.
Importantly, two pilot plant operations at Kwale provide confidence inprocessing behaviour and indicate a suite of readily marketable products. TheProject's high value mineral assemblage and low stripping ratio result in aprojected revenue to cash cost ratio that would place Kwale in the top quartileof world producers.
A realistic development time line should see the Kwale Project in production inthe second half of 2013.