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Base Resources Ltd.
Summary
| Project: | Kwale | |
|---|---|---|
| Deposit: | Kwale | |
| Location: | Kenya | |
| Commodities: | Titanium-Zircon | |
| Date: | 5/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 23-5-2017: Base Resources Ltd. announces a Feasibility Study report for its Kwale deposit at the Kwale project. Definitive feasibility study results incl. total CAPEX of US$33.7M, LOM of 5yrs. African mineral sands producer, Base Resources Limited (ASX & | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (“Base Resources” or the “Company”) is pleased to announce that, following completion of the Definitive Feasibility Study (“DFS”), the Board has approved implementation of the Kwale Phase 2 project (“KP2”) at its Kwale Mineral Sands Operations (“Kwale Operations”) in Kenya, East Africa. The DFS confirmed the opportunity for significant improvement in the financial returns for Kwale Operations through further optimisation of the remaining mine life. The DFSwas completed internally by Base Resources’ project development team, supported by several specialist consulting firms, and included an independent peer review process. The objective of the KP2 project is to maximise the overall Kwale Operations economic returns by implementing a solution to maintain maximum concentrate feed to the Mineral Separation Plant (“MSP”), and therefore final production volumes, in the face of declining ore grades expected from mid-2018 onwards. The KP2 DFS has established that this objective can be effectively and efficiently achieved. The KP2 project will be executed on an owner-implementation basis, as the Company has the requisite internal capability to do so, realising significant cost savings on EPCM indirect costs and contractor installation costs. Front end engineering and design (“FEED”) is currently underway and scheduled for completion by the end of June 2017. Whilst the FEED is in progress, the main mechanical, structural and piping contract will be awarded, based on the comprehensive tenders received during the DFS, and long lead items ordered. | |
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