28/07/2015 - 14:38

Base Resources up on Q4 report

28/07/2015 - 14:38

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West Perth-based miner Base Resources closed the day up 4.5 per cent to 11.5 cents a share after its quarterly report announced record sales volumes across all its products.

West Perth-based miner Base Resources closed the day up 4.5 per cent to 11.5 cents a share after its quarterly report announced record sales volumes across all its products.

The company also reported a quarter-on-quarter increase in production of 9 per cent.

Rutile production at its Kwale mineral sands project in Kenya was up 16 per cent for the quarter, which Base says was caused by an increase in achieved throughputs.

Net operating cash flow for the June quarter was $25.9 million and the company reported a $17.1 million increase in cash on hand to finish the 2015 financial year with just over $40.9 million in the bank.

However the company ended the quarter with $244 million in debt drawn, and it is currently looking to refinance its debt facility.

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