leadf
logo-loader
viewBase Resources Limited

Base Resources draws down US$75mln of previously arranged debt, operations at Kwale continuing

Base has built up a consistent track record of cash generation from Kwale

Base Resources Limited -

Base Resources Ltd (LON:BSE) said it has drawn down the full US$75mln available under its existing revolving credit facility.

As at February, 29, 2020, Base had cash reserves of US$37.7mln and no debt.

Under the terms of the revolving facility, there are no mandatory repayments until June 30, 2021, when the available facility reduces to US$50mln. The final maturity date is December 31, 2021. 

Base Resources said it's significant combined cash reserves make it well placed to emerge from the current crisis in sound financial shape and to capitalise on appropriate emergent opportunities.

It added that, supported by sound customer demand, production at the company’s Kwale mineral sands operation in Kenya has continued uninterrupted, with broad health and safety procedures implemented to minimise the risk of coronavirus to personnel and surrounding communities.

Quick facts: Base Resources Limited

Price: 15.1 GBX

AIM:BSE
Market: AIM
Market Cap: £177.88 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Base Resources Limited named herein, including the promotion by the Company of Base Resources Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Base Resources announces maiden dividend with effective yield of 14%

Base Resources Limited's (LON:BSE)(ASX:BSE) chief financial officer Kevin Balloch speaks to Proactive following the announcement of a maiden dividend alongside the release of its 2020 results this week. The maiden dividend of 3.5 cents per share implies a yield of around 14%. Base booked revenue...

3 weeks, 4 days ago

2 min read