Base Resources Ltd (BSE)

Sector:

Mining

 16.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 18.50
  • 52 Week Low: 13.75
  • Currency: UK Pounds
  • Shares Issued: 1,178.01m
  • Volume: 77,273
  • Market Cap: £194.37m
  • RiskGrade: 182

Taurus Funds Management sells stake in Base Resources

By Ikaba Koyi

Date: Friday 13 Oct 2017

LONDON (ShareCast) - (ShareCast News) - Mineral sands producer Base Resources, focused on the Kwale Mineral sands operations in Kenya, East Africa, was informed by Taurus Funds Management that it had ceased to be a significant shareholder of the company.
Base reported on Friday that the privately owned investment manager and its associates were no longer interested in the company's shares, having offloaded their entire stake comprising 72,693,547 ordinary shares on 11 October 2017 at A$0.29 per share.

In a quarterly update issued just the day before, Base boasted continued improvement in zircon markets, with stabilising ilmenite prices and a positive outlook for those of rutile.

During the three-month period the company also reduced its net debt pile by $11.9m to $86.6m.

The company also raised its production guidance for ilmenite and zircon.

"Markets for rutile and zircon now very strong and ilmenite markets have stabilised, which should provide a constructive market backdrop as Base undertakes the KP2 capacity expansion in advance of the transition of mining to the South Dune," said analysts at Numis following the company's quarterly update.

In the same research note, Numis reiterated a 'buy' recommendation and 30p target price for the shares.

As of 1402 BST, shares of Base Resources were 1.37% higher and back at levels last seen towards mid-2014.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BSE Market Data

Currency UK Pounds
Share Price 16.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 18.50
52 Week Low 13.75
Volume 77,273
Shares Issued 1,178.01m
Market Cap £194.37m
RiskGrade 182

BSE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
67.38% above the sector average67.38% above the sector average67.38% above the sector average67.38% above the sector average67.38% above the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BSE Dividends

  Latest Previous
  Final Interim
Ex-Div 10-Sep-21 12-Mar-21
Paid 29-Sep-21 31-Mar-21
Amount 4.00¢ 3.00¢

Trades for 18-Jan-2022

Time Volume / Share Price
12:39 6,231 @ 16.85p
11:13 71,042 @ 16.18p

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