Base Resources Share Discussion Threads

[dangersimpson2] 21/12/2021 17:23

If Toliara gets the go-ahead then they probably will re-invest the cash into that and not pay a dividend. If not, we can expect one paid in March 2022. By then they probably will have generated around $80m of net cash Q1-Q3 which would be about 5p per share. But they are unlikely to pay this all out. Another AUD3-4c would easily be affordable though as an interim dividend.

[plasybryn] 21/12/2021 16:36

Could anyone tell me where are re: the next dividend?

[janekane] 09/12/2021 07:48

Massive 6583290 buy at 0.30 AUD. in oz yesterday some one showing confidence in our company we should get a notification as to who’s buying

[janekane] 19/11/2021 08:41

Last 2days trading in oz has been up
That’s always a good sign

[janekane] 11/11/2021 07:17

Let’s hope we can conclude our contract negotiations before January 2022

[plasybryn] 10/11/2021 15:58

January-2022 - Fiscal terms11 months of pre-FID work streams including early works and Front End Engineering DesignLegal and fiscal stability agreements Land acquisition Funding Offtake agreements December-2022 Final Investment DecisionConstruction - 27 months to first shipment September 2024 – Mining and Wet Concentrate Plant begins December – 2024 – First product from Mineral Separation Plant March – 2025 – First shipment

[janekane] 28/10/2021 07:31

Another nice rise in oz =17.2p on the bid uk

[janekane] 26/10/2021 05:48

Nice rise in OZ this morning

[janekane] 22/10/2021 07:59

Why has the chair resigned
very worrying

[soleman1] 19/10/2021 18:07

Just timing of shipments, will even out with the next quarter.

[marktime1231] 19/10/2021 17:13

BSE reports the soaring prices we were hoping for, but slightly lower production this quarter and a massive fall in sales shipments. Was it because of the timing of a shipment, is this a worry or will there be a corresponding bounce in the next quarter?

If shipping is being disrupted by the global supply chain crisis that will fuel prices but clobber sales shipments.

The Kenya mining license / VAT resolution we discover will mean a net expense of $3.2M this year.

Not much progress toward the 50p target price imagined by Canaccord which remains hooked on whether BSE can agree a deal for the Toliara project with the Madagascar Ministry of Mines.

[janekane] 15/10/2021 16:04

Offer has just rose to 16.50p on very low volume it looks like there’s a buy order being built

[plasybryn] 08/10/2021 19:11

https://www.futuredirections.org.au/publication/mining-famine-and-infrastructure-good-news-and-bad-in-madagascar/

[janekane] 08/10/2021 06:40

99 good points but it’s still a long call and the share price in Australia is up another 1.8% again yesterday and today
Your right the Madagascan mine minister could stop us there so many if n buts
but our deal in Kenya has set a precedent in the amount of revenue paid to the Kenyan government
Let’s hope they can agree to get the deal done in Madagascar with similar fiscal costs paid
We still have our prospectors in main land Africa looking for more sites and agreements with other governments of the countries that have given licences to prospect

[daemonfunds] 07/10/2021 22:25

@janekane: not sure that it is a long call. they are long but via an equity swap (the sort of position that Archegos had on viacom etc. before its blow up)

essentially they will receive performance for 69.64mio shares into their Zambezi fund and for 4.37mio shares into their Amazon fund

they may be required to post some collateral but it is a very cost effective way to get access to shares (i.e. they may only have to post <10% collateral)

the shares in the swap account for about 6% of the shares outstanding so perhaps £10mio long exposure for the price of let's say £1mio and daily variation margin

i think they've taken the split in this way because of their view of the percentage that Toliara plays in making up the share price

while i'm minded to be positive about the investment, i'm also conscious they are a long/short fund so there will be a name on the other side that must move in a desired direction. if either (or, heaven forbid, both!) name(s) move in the wrong direction (e.g. Toliara stopped once and for all, allegations of correuption in Kenya, etc. on the long side - who knows on the short...), a sudden prime broker triggered unwind could be quite messy...

[plasybryn] 07/10/2021 20:50

The project is now forecast to generate almost $2 billion in direct government revenue & community development expenditure over the 38 year mine life. Surely that will encourage Madagascar to give us the go ahead. For us almost $6 billion free cash flow over life of project. Capital pay back just 4.5 years . Bring it on.

[plasybryn] 07/10/2021 20:46

The latest DFS suggests Fiscal Terms will be agreed and the suspension lifted by January 2022. Then FID is assumed to be by end of Dec 2022. What does FID stand for??Based on these timescales first shipment by March 2025.

[janekane] 07/10/2021 16:01

It is a long call option they have borrowed the right to buy so many millions at a price agreed with the holder who believes the share price to stay at the price when the deal was struck (strike) some ones put their balls on the table in the knowledge of a massive rise
The lender has also put their balls on the table expecting the share price to stagnate
Derivatives are very complicated reams of rules and regulations
Dealers love them with millions of CFDs costing idiots who deal them on the difference in the spread hefty losses in seconds
Call options can be very good but not on AIM stock for small private investors
You need to deal in millions to make it pay

[marktime1231] 07/10/2021 12:24

So yes everyone should have had their divi by now, despite pathetic excuses that "it can take a few days to process as this is an overseas dividend". You can be sure they received it fairly promptly. If you have not got yours you should be asking them what they are doing holding on to your money.

My conclusion is that the deal Base has struck with the Kenya government represents a modest balance sheet impairment or lost opportunity in the short term, in exchange for a moderately extended license and the hope that it will discover additional mineral reserves nearby to existing operations. Not a huge blow not a huge prize.

Corporate trading by FIL and someone I never heard of Regal Funds, which may even be a hedge or short, sound like like big bets being placed on the binary outcome of negotiations over the Toliara project. This is the prize.

[janekane] 07/10/2021 07:17

Well that news today explains the large share buy on the 30th of September
Interesting time ahead
The market in Australia was good yesterday we were up nearly 3% so let’s see if it rubs off anto us today
Good luck to all holders in the UK as our little company has very large institutions looking long and hard at us

[soleman1] 06/10/2021 18:56

Is anyone else still waiting for the divvi? I'm with hsbc and it's held in an isa.

[plasybryn] 06/10/2021 12:55

The Toliara Project DFS Study 2 is an impressive piece of work.
Worth studying.
This recent short video is also worth a listen. Amazing potential.


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[janekane] 01/10/2021 12:55

Massive buy in Australia yesterday 266;681;179( two hundred and sixty six million six hundred eight hundred and one thousand one hundred and nine buys against 151760 sells
Massive institutional buyer I couldn’t get the actual trade on my screen as it only went back in our time IE every trade before 12 midnight UK time my app won’t go back a day
Got my divi yesterday
Should get a RNS either tonight or Monday morning telling us who the buyer is
The news from Kenya is very good it keeps us busy till 2024 /2025

“With the recently released Bumamani Pre-Feasibility Study supporting further extension to Kwale mine life to mid-2024,


the focus is on completing the Definitive Feasibility Study and securing the required tenure arrangements. Looking further ahead, we are pursuing wider exploration opportunities in both Kenya and northern Tanzania.”