Sales Agreement - Notice of Volume Reduction Received

BASE RESOURCES LIMITED - Sales Agreement - Notice of Volume Reduction Received

PR Newswire

London, February 15

AIM and Media Release 

15 February 2016

BASE RESOURCES LIMITEDSales Agreement - Notice of Volume Reduction Received

Base Resources Limited (ASX & AIM: BSE) (“Base” or the “Company”) advises that it has received a notice from a counterparty to a long term rutile sales agreement (“Agreement”) exercising its contractual right to reduce the annual quantity of rutile to be purchased by the counterparty by approximately 20kt in the current contract year (“Reduction”). The Reduction has been implemented in response to an overall decrease in the counterparty’s operational requirements for high grade titanium feedstocks.

The Reduction is expected to impact approximately 6kt of planned rutile sales in FY2016, with the balance of the Reduction to be allocated over the remaining contract year to 31 January 2017. 

The Company will explore all available options for selling the rutile concerned to other customers and anticipates being able to secure alternate sales over the coming twelve month period.

A full PDF version of this release is available from www.asx.com.au and on the Company's website: www.baseresources.com.au.

ENDS

CORPORATE PROFILEDirectorsKeith Spence (Non-Executive Chairman)Tim Carstens (Managing Director)Colin Bwye (Executive Director)Sam Willis (Non-Executive Director)Michael Anderson (Non-Executive Director)Michael Stirzaker (Non-Executive Director)Malcolm Macpherson (Non-Executive Director)Company SecretaryChadwick PolettiNOMINATED ADVISOR & BROKERRFC Ambrian LimitedAs Nominated Adviser:Andrew Thomson / Stephen AllenPhone: +61 (0)8 9480 2500As Broker:Jonathan WilliamsPhone: +44 20 3440 6800SHARE REGISTRY: ASXComputershare Investor Services Pty LimitedLevel 11, 172 St Georges TerracePERTH WA 6000Enquiries: 1300 850 505 / +61 (3) 9415 4000www.computershare.com.auSHARE REGISTRY: AIMComputershare Investor Services PLCThe PavilionsBridgwater RoadBRISTOL BS99 6ZZEnquiries: +44 (0) 870 702 0003www.computershare.co.ukAUSTRALIAN MEDIA RELATIONSCannings PurpleWarrick Hazeldine / Annette EllisEmail: whazeldine@canningspurple.com.au /aellis@canningspurple.com.auPhone: +61 (0)8 6314 6300UK MEDIA RELATIONSTavistock CommunicationsJos Simson / Emily FentonPhone: +44 (0) 207 920 3150KENYA MEDIA RELATIONSAfricapractice (East Africa)Evelyn Njoroge / James Njuguna/Joan KimaniPhone: +254 (0)20 239 6899Email: jkimani@africapractice.comPRINCIPAL & REGISTERED OFFICELevel 1, 50 Kings Park RoadWest Perth, Western Australia, 6005Email: info@baseresources.com.auPhone: +61 (0)8 9413 7400Fax: +61 (0)8 9322 8912