Base Resources Share Discussion Threads

[plasybryn] 03/8/2023 12:22

Whats occuring?

[janekane] 26/7/2023 06:52

Morning mjneish the problem with base is not their ability to get the tolaira mine moving it’s the mismanagement of previous government officials
The Russian influence via social media
This problem reared it’s head in 2018
There will be a new government in 2024 who will look at the mismanagement regarding licence approvals
I started selling my shares in February and with my dividends reinvested got an average of 16.5p a share showing e a massive profit
Look at the chart above to see my judgment was correct
Base in Kenya has another year or a little longer before the mine is finished
At this moment in time I still consider Base a strong sell
Good luck to you if you have bought into base I hope you make money but my strategy would be to wait and see what the outcome is at the end of this year
I also believe taking a short position is prudent at this time
Have a nice day

[mjneish] 25/7/2023 10:33

Interview with Proactive:

[mjneish] 25/7/2023 10:16

If they were about to give up on Toliara, it would be strange to come out now of all times with such detail.

[janekane] 25/7/2023 09:01

Morning plasybryn falling in love with your investment is the biggest mistake any one investing in a company can make
Good advice for a falling knife is never try to catch it
And if you try to sell of downward trends you contain your losses
Strong sell

[plasybryn] 25/7/2023 08:13

The cash (as at 30 June 2023, the Company had cash of US$92.9 million and no debt") is a good part of the Mkt Cap at £104m.

[janekane] 25/7/2023 07:29

So here we have the first recognition that Madagascar is going to fail

the Company does not expect to achieve material
progress in securing fiscal terms or lifting of the project's on-ground activity

I Am very sorry to say this but I have been been singing from this song sheet for the last year

[plasybryn] 23/7/2023 12:44

Toliara Project Rare Earths Concept Study said to be due this quarter

[plasybryn] 23/7/2023 12:43

Quarterly Activities Report due this week perhaps. Madagascar progress would be nice.

[plasybryn] 21/7/2023 09:08

Quarterly update next week. Progress on Madagascar. Elections getting closer. Fingers crossed. Come on BSE, lets get the Fiscal Terms sorted.

[janekane] 06/7/2023 06:41

Could this be a case of counting chickens before they hatch

Brokers comments

assuming landholder consent can be secured.

Madagascar has this problem and will it ever resolve

[janekane] 03/7/2023 10:28

Morning Plasybryn
All in all not great news
the leaseholders of all land in Africa and Madagascar have been exploited terribly over the years by unscrupulous mining contractors and are now being told by even bigger carpet baggers that they will give them the leaseholders and the landowners “government departments “massively inflated monetary returns that look good on paper
The result being that these proposals are being accepted as 3or4 times better than that proposed by base
but the bottom line will leave them with massive reclamation costs not part of contracts signed
Utilities infrastructure will cost massive amounts of money to sustain
And these deals again not covered in contracts that are on paper the best since sliced bread
Ime afraid this once magnificent company Base are the victims of massive misinformation being visited on powers that be considered to be in charge of mining licenses to be awarded to east European companies who will strip and then abandon all responsibilities in reinstalling the land after taking the heart and leaving the skeletal remains

[plasybryn] 03/7/2023 08:17

Land access is a particular challenge in Magaoni and Zigira, with access to approximately 35% of the targeted areas yet to be obtained. Based on drilling to date, the areas where access is yet to be obtained appear to cover highly prospective areas - refer to Figure 2. Focused community engagement seeking the remaining landowner consents is ongoing and remains positive.

[janekane] 03/7/2023 07:50

Farrugla this latest news item
a question to be answered
Why haven’t base got permission from the owners of the land to start mining
How many years will it take before decisions are made as he filibuster experts ply their trade

[janekane] 30/6/2023 07:25

Morning farrugla you’ve basically answered your own question
Tha wagnar group is now the controller of mining Madagascar
Perhaps you could make enquires regarding there control and make a conclusion

[plasybryn] 26/6/2023 10:52

SP Angel today: Interesting comment re Madagascar.
Base Resources (BSE LN) 9.18p, Mkt cap £189m – Management lowers 2024 guidance for Kwale mineral sands mine in Kenya
Base Resources management have cut production guidance for the Kwale mine in Kenya for 2024.
Mining is transitioning to the North Dune from the South Dune operations with the South Dune expected to be mined out in March 2024.
Lower grades in the North Dune and at Bumamani show lower grades than seen historically at Kwale.
Lower production within the new mining areas is expected due to ‘elevated oversize and slimes’.
The shutdown of around half the mining operation is also expected to have an impact as machinery is moved into new areas in the South Dune in March 2024.
New guidance 2023:
Rutile 62,000-73,000
Ilmenite 130,000-160,000
Zircon 13,000-16,000
New guidance 2024*;
Rutile 35,000-41,000
Ilmenite 130,000-160,000
Zircon 13,000-16,000
*2024 guidance is based on the mining of 14.1mt grading 2.23% heavy minerals.
HMC production 311kt at the wet concentrator plant. HMC fed into the mineral separation plant (MSP) of 297kt.
MSP product recoveries of 101% for rutile, 101.5% for ilmenite and 84.5% for zircon.
Previous 2023 guidance issued 24 January 2023:
Rutile - 62,000 to 73,000t,
Ilmenite - 260,000 to 310,000t,
Zircon - 22,000 to 27,000t,
Toliara (Madagascar): Discussions with the government of Madagascar continue with the Toliara Project Rare Earths Concept Study said to be due this quarter.
Conclusion: Base Resources have a good team and have proven their mining expertise at Kwale. The delay to mining license approval at Toliara in Madagascar means the company will inevitably suffer a period of lower production. While we don’t think Base Resources should give up on Madagascar we do think they would do well to acquire one of the more recent ilmenite or rutile discoveries located where there are more predictable permitting regimes.

[janekane] 03/6/2023 07:26

Exchange Ordinary Share AU000000BSE5
Change % Chg Cur Bid Offer High Low Open Volume Chg Time Upgrade Icon RN NRN
0.01 5.6% 0.19 0.18 0.19 0.19 0.175 0.175 2,135,506 07:10:10

Type Size Price Time Units
35,000 0.19 Closed AUD

[plasybryn] 02/6/2023 14:45

Up 8.57% on the AX market.

[janekane] 02/6/2023 12:57

I didn’t say it was I posted “ be careful” If you get posters promoting this rns in its wrong context ie “someone is buying and accumulated a massive interest “then it could be referenced as jiggery pokery
The moving from one of a company’s fund into another of the same companies but different fund could be misconstrued by unscrupulous posters to try to promote this to their advantage
Simples

[mondex] 02/6/2023 10:54

Jane, you say this as if it's a fact. Why do you think "jiggery pokery" is happening?

[janekane] 02/6/2023 08:35

Example
Number one fund has 10 shares in xxx and wants to buy into yyy but has no available cash
Number two fund same company has a surplus of cash ,so one transfers to two fund that release funds to allow one fund to purchase yyy
Simple

[janekane] 02/6/2023 08:03

Be careful of jigerypokery it’s all about moving from one fund to another

[plasybryn] 02/6/2023 07:17

Is this the moment to wake up and smell the coffee?