World Titanium Resources was a company developing the Tier 1 Toliara Sands Project north of the port of Toliara in south-west Madagascar. The company delisted from the ASX in January 2017, following AMED increasing its stake in the company to 70.79% through an on-market takeover.
At the Annual General Meeting of World Titanium Resources Ltd (WTR) held on 23 December 2016, the Shareholders of approved the resolution to demerge its African assets on 30 December 2016 by distributing all of the shares it holds in World Titane (being 100% of World Titane’s issued share capital) to Shareholders on a pro-rata basis by way of an equal capital reduction.
As part of the demerger, Shareholders also retained their Shares in WTR and approved the delisting of WTR from the ASX on 30 January 2017. WTR was later liquidated in October 2017.
In December 2017, Base Resources plans to acquire WTE's holding in the Toliara Sands project. This acquisition completed in 2018.