Share Name Share Symbol Market Type Share ISIN Share Description
Base Resources Limited LSE:BSE London Ordinary Share AU000000BSE5 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.25 1.69% 15.00 119,448 13:38:32
Bid Price Offer Price High Price Low Price Open Price
14.50 15.50 15.00 14.75 15.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 107.47 15.86 0.50 30.4 177
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:44 O 17,000 15.00 GBX

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Date Time Title Posts
27/9/202114:13Base 2021 82
01/4/202108:04Base Resources 25p to 2p Now to recovery 2016252
11/2/201608:15Base Resources Ltd12
01/6/200707:59Oh bugger....BSE in water supply119
17/2/200509:37Budapest Stock Exchange Pharmaceuticals Sector: HUMET Plc.-

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Base Resources Daily Update: Base Resources Limited is listed in the Mining sector of the London Stock Exchange with ticker BSE. The last closing price for Base Resources was 14.75p.
Base Resources Limited has a 4 week average price of 13.70p and a 12 week average price of 13.70p.
The 1 year high share price is 18.50p while the 1 year low share price is currently 13p.
There are currently 1,178,011,850 shares in issue and the average daily traded volume is 136,206 shares. The market capitalisation of Base Resources Limited is £176,701,777.50.
soleman1: I doubt a deal with the Madagascar government is around the corner but I think it will eventually happen years down the road. The company is on the money though sniffing out sites in Kenya, seems far more likely new resources will be found there and terms readily agreed as they have a good track record there. I'm happy for them to keep mining there and returning the cash to shareholders don't really care what the share price does in that case.
tomps2: Mark Simpson ‘slams’ Base Resources (BSE) in the latest PIWORLD/Stockopedia StockSlam at 35m34s Watch the video here: Https://www.piworld.co.uk/education-videos/the-stockopedia-piworld-virtual-stockslam-september-2021/ Or listen to the podcast here: Https://piworld.podbean.com/e/the-stockopediapiworld-virtual-stockslam-september-2021/
soleman1: Chaps this is my first BSE dividend, I tried to register with compushare but didn't have the srn number. I can't find it on hsbc sharetrading and when I contacted them they also did not know it. The latest RN states those paid by cheque will receive a mandate form, hopefully that communication will include the srn number but in the meantime will I be sent a cheque without taking any further Action?
marktime1231: ProactiveInvestors reporting a broker note from Peel Hunt, who agree the value of BSE rests on extending operations in Kenya and Tangyanika or doing a deal in Madagsacar hTTps://www.proactiveinvestors.co.uk/companies/news/959518/base-resources-has-two-routes-to-boost-value-says-peel-hunt-959518.html They say BSE is worth 20p as things stand, but don't suggest how much it would be worth if they agree fiscal terms with Madagascar in the next year. The share price seems to have topped at 18p ahead of ex-div on Friday.
dangersimpson2: Yep, lots of assumptions in there but my assessment is that the capital market cycle is on our side. New HMS capacity is required but the capex has not been put in globally for the last 5 years or so and it takes 5 years of planning & construction to develop greenfield sites. South Africa has production issues. Vietnam & India are not coming back on stream for political reasons. And the only world-class resource that is advanced in its planning is Toliara and that has been delayed. There is another world-class resource that is a few years behind Toliara in planning which is owned by listed Bluejay (JAY) in Greenland but it is a) poorly located for Chinese customers b) is planned to produce at half the rate of Toliara Phase 1 and c) only has a PFS not a DFS so is a couple of years behind Toliara even with the lack of activity on the ground in Madagascar over the last 18 months. Bluejay has a $165m market cap as a non-producer. It has a few other explo state projects but as a read through you could easily argue that Toliara should be worth twice as much as Bluejay on its own. Kenmare have increased production by adding an additional Wet Concentrator Plant last year but this has easily been accommodated by the market. They are obviously in production, but producing at a level that will be similar to the final rate at Toliara with the same very long LoM. Toliara is cheaper due to the much higher grades. Kenmare has a $700m+EV and still looks reasonable value at that valuation. In the near term, ilmenite might see a limit to price rises as informal Chinese supply becomes economic but this is generally lower quality. So this may prevent price spikes but it is unlikely to dampen prices below the current level, merely limit the rises. So all indications that current HMS prices are largely sustainable or on an upward trajectory, barring any severe global economic demand shocks. In terms of Base, I think they will look to extend Kwale with whatever they can. The level of jobs, training, community services etc that relies on Base Titanium operating at scale means that it would be very bad news for Kwale county for Base to simply shut up operations at the end of 2024. I feared that they would mine the North Dune whatever the economics for this reason, but am pleasantly surprised that they have stuck to their guns with the PFS being uneconomic for everywhere apart from Bumamani. So I think they will go all out to find additional high-grade & economic resources to keep the plants running in Kwale. I am disappointed with the bureaucracy that seems to accompany these efforts in Kenya given how dependent the region is on Base. I think part of this may be wrapped up in the VAT/Royalties agreement that is being negotiated. This is due to be settled imminently, so I would hope that these license and access issues get resolved rapidly following this but who knows on the ground. What is certain is that it is in everyone's interest to find new, accessible high-grade HMS ore reserves in Kenya in the next few years. This doesn't mean the geology will be compliant, of course, but all the indications are that they are drilling in the right places to find anything if it is there.
marktime1231: If those assumptions on extractable mineral, production volumes, costs and prices, free cash flow and distributions are right, and I hope you are, you make a good case. My own prayer is that they agree a deal with Madagascar quickly and re-focus operations there, rather than try to bridge the gap by extending Kwale on marginal economics. Then we can worry less about life of mine. BSE is anything but boring!
marktime1231: You might be right, but it all depends how much life you believe is left in Kwale at what volumes and costs and prices? I like your projection that we get our money back anyway, but I don't think everyone sees it like that otherwise we wouldn't be here. So yes that is exactly the risk-reward. A 50% chance of doubling up or halving. And that is what is reflected in the share price.
marktime1231: Well those volumes of trade didn't show up on the london stock exchange site yesterday or today, so we will have to take your word for it. Reported today that Canaccord Genuity has issued a Buy note with a 35p price tag, haven't seen the detail and as joint house broker they are paid to flog it so that may be a rosy view. Based on next year's outlook rather than this year's pandemic-hit financials presumably. About time the share price started to improve then. Doubled up my holding at just under 15.5p this afternoon.
janekane: Trades (Java) Trades (HTML5) Trade Frequency Base Resources Limited Historical trades: Base Resources (BSE) Following BSE [ADVERT] Real-Time Level 3 Montage Base Resources Limited (… ▼ Num Exch. Price Size Type C T Bid Offer Time Buy Sell ? Buy Ind. Buy Vol. Sell Vol. ? Vol. 4 LSE 15.70 159,203 O 15.00 15.50 16:07:55 0 0 159,203 16,129 1,681 0.00 3 LSE 15.425 2,515 O 15.00 15.50 13:35:04 2,515 0 0 16,129 1,681 0.00 2 LSE 15.425 13,614 O 15.00 15.50 12:06:20 13,614 0 0 13,614 1,681 0.00 1 LSE 15.10 1,681 O 15.00 15.50 11:07:11 0 1,681 0 0.00 1,681 0.00 Trade definitions are based on the mid-price and are indicative only
marktime1231: BSE year end was 30 June so I think we are waiting for a quarterly trading update later this month followed by 2021 final report late August or early September? The Spring update was positive, production and prices recovering strongly, should be back to pre-covid levels now which makes the outlook attractive. What is even more encouraging is that the business has paid down all borrowings and credit facility, so it is now debt free and sat with about $70M net cash in March, and cash flow is instead being directed towards dividends. What's the betting on another 3c dividend? An annual yield of about 25% while the share price is pegged around 15p? No wonder broker Berenberg tipped BSE as a Buy this week, but it seems no-one was listening. What are the concerns ... the limited reserves of open cast dune mining which can be commercially developed in Kenya, uncertain prospects for other mining targets in Kenya, difficulty over a large VAT reclaim, uncertain prospects for a new project in Madagascar. How many years worth of known reserves in the active deposit in Kenya ... five or ten or more ... but I think they need to negotiate renewing the tenure on their mining license first? The upside is reported by specialist commodity analysts Roskil saying strong demand for ferro-titanium as with all industrial metals from China and elsewhere pushing commodity prices to highs, and forecasting average sold prices could be up to 50% stronger in 2021-22 compared to the doldrums of 2020-2021. Somewhat linked to the resurgence in aircraft manufacturing. That price outlook trumps all the concerns. Looking at this with a view to adding some more BSE to my small speculative stake before the good news is published.
Base Resources share price data is direct from the London Stock Exchange
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