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: 2,941
  • Market Cap: £194.37m
  • RiskGrade: 182
  • Beta: 0.00

Base Resources draws full revolving facility to continue Kwale operations

By Josh White

Date: Wednesday 01 Apr 2020

LONDON (ShareCast) - (Sharecast News) - African mineral sands producer and developer Base Resources has drawn down the full $75m available under its existing revolving credit facility, it announced on Wednesday.
The ASX and AIM-traded firm said the drawdown would secure "enhanced liquidity" and ensure flexibility as part of a prudent management strategy, given the evolving uncertainty associated with the Covid-19 coronavirus pandemic.

As at 29 February, the company had cash reserves of $37.7m and no debt.

It said that under the terms of the revolving credit facility, there were no mandatory repayments until 30 June, when the available facility reduces to $50m.

The final maturity date for the facility is 31 December 2021.

Base said that its "significant" combined cash reserves made it well-placed to emerge from the current crisis in sound financial shape, and to capitalise on appropriate emergent opportunities.

"Supported by sound customer demand, production at the company's Kwale operation in Kenya has continued uninterrupted with broad health and safety procedures implemented to minimise the risk of Covid-19 to our personnel and surrounding communities," the board said in its statement.

"The company is working with [the] government of Kenya authorities to adjust work arrangements as necessary to keep operations within government restrictions."

However, Base said that in a "rapidly evolving" local and global landscape, operations were being maintained to balance the considerations of employee and community health, operational safety, community benefits, government policy and regulation, input availability, customer demand and financial prudence.

"Consequently, a halt to, or curtailment of operations at some point in the future cannot be ruled out."

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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 2,941
Shares Issued 1,178.01m
Market Cap £194.37m
Beta 0.00
RiskGrade 182

BSE Star Ratings

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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
65.96% above the sector average65.96% above the sector average65.96% above the sector average65.96% above the sector average65.96% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
36.36% above the sector average36.36% above the sector average36.36% above the sector average36.36% above the sector average36.36% above the sector average
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
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Neutral 0
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Total 1
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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 26-Jan-2022

Time Volume / Share Price
15:05 2,941 @ 17.00p

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