# BSE - Base Resources



## System (24 September 2010)

Perth-based, Base Resources Limited (ASX:BSE) is developing the world-class Kwale Mineral Sands Project in Kenya, East Africa.

Base Resources also has a portfolio early stage exploration projects in Western Australia's Mid West region, with established targets for iron ore, gold, base metals and uranium.

http://www.baseiron.com.au


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## mr. jeff (16 February 2011)

base have been showing some great strength with ongoing breakout, strong institutional buying; note the volume spike early Feb was not coincident with an announcement. 







> Quarterly Activities Report – December 2010
> HIGHLIGHTS
> ● Due diligence review completed on Kwale Project acquisition confirms an outstanding opportunity.
> ● Government of Kenya approval for Base to acquire Kwale secured.
> ...


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## Boggo (16 February 2011)

mr. jeff said:


> base have been showing some great strength with ongoing breakout, strong institutional buying; note the volume spike early Feb was not coincident with an announcement.




It poked its head out nicely just over a week ago, looks strong with some buyer interest as you say.

https://www.aussiestockforums.com/forums/showthread.php?t=5351&p=610075&viewfull=1#post610075


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## mr. jeff (28 February 2011)

BSE has been moving along on higher volume and seems to be holding its momentum so far....





and minor release on the 25th of Feb,  extension drilling.


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## Miner (17 March 2019)

https://www.asx.com.au/asxpdf/20190225/pdf/442x8x0dqvq973.pdfLast posting on BSE was more than 8 years back.
Any one is still following up this stock ? DNH. Was in Madagascar for work for 1.5 years and ironically only came to learn about this Perth based company in 2018.
https://www.asx.com.au/asxpdf/20190225/pdf/442x8x0dqvq973.pdf
Operation at Toliera  is scheduled 2021- zero debt (as per company's claim reported).


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## Tommy Shelby (16 July 2021)

two years later...

BSE mines mineral sands which has had significant increases in pricing over the last year or so. The company pays an annual dividend of $0.065/share which works out to be an approx 22% yield with $70m in cash in the bank. 

It has two mines -
Kwale
If I've read it right it appears that it only has about two years left of production capacity based on the proven ore reserves. BSE just completed a DFS showing majority of the North Dunes is uneconomical so will look at spot mining the higher deposits.

Toleria
BSE is still negotiating terms for the mining licence or approval to mine it. Assuming they got the approval tomorrow it would still be 11 months before construction commencement/finance approval and another 26 months before first shipment. It looks like much higher grades and overall supply. 

I imagine the dividend is unsustainable based on the DFS for Kwale and lack of movement on Toleria but there's a fair amount of money saved up and could be a significant re-rating if they do obtain approval from the government at madagascar.


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## Tommy Shelby (19 July 2021)

Interesting note by SNC about the prices of mineral sands production such as zircon and may continue to go higher.






Feels like the question is essentially around how much runway is left at Kwale to get Toleria off the ground (or in it really)? two years with no agreement on terms feels pretty stagnant to me - anyone know more about this particular stock/management?


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## divs4ever (22 July 2021)

i hold ILU 

 but someone  said i should put this on my watchlist today 

 NORMALLY i avoid Africa and PNG because of the increased geo-political risk   , so until today i would have spotted Africa and moved on 

 DYOR

 i am still looking and thinking here 

good luck


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## greggles (1 October 2021)

Huge volume today with BSE finishing the day at its highs, up 9.62% to 28.5c. Someone wants in.


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## Tommy Shelby (2 October 2021)

Wasn't me...

Good news - deed of variation has been signed for the mining lease with an increase of royalty payments to 5%. Downside is they will have to backpay the increased rate, looks like they have enough cash to cover it though.


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