(NewsDirect)
Base ResourcesLimited (AIM:BSE, ASX:BSE) CFO Kevin Balloch gives Proactive anoverview of the company’s FY23 highlights. Higher prices across allproducts helped deliver an EBITDA of US$158.6 million and cash flowsfrom operations of US$117.4 million.
Base produced 68,814 tonnes of rutile, 297,861tonnes of ilmenite, 25,954 tonnes of zircon and a combined 18,330tonnes of low-grade rutile and zircon products from the KwaleOperations. Looking ahead, he says the Toliara project in Madagascarremains a significant growth opportunity for the company.
“The 2023 financialyear has been another operationally and financially successful one.Strong operational performance, coupled with the continuation ofbuoyant mineral sands markets, has delivered a record EBITDA for KwaleOperations, even with the transition to the more challenging and lowergrade ore sources that will characterise the final years of theoperation, Managing Director of Base Resources, Tim Carstens,said.
“We continue to activelypursue additional mine life extension opportunities in the Kwale Eastsector, with a second phase aircore drill program currently underway.Given the inherent uncertainty associated with exploration,significant effort is also going into planning for the ultimateclosure of Kwale Operations and the transition to post-mining landuse, with the clear objective of cementing a reputation for excellencein the full life cycle of mining.”
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Proactive Investors
JonathanJackson
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