Base Resources Limited Toliara Sands Project acquisition completed
January 23 2018 - 1:00AM
UK Regulatory
TIDMBSE
AIM and Media Release
23 January 2018
BASE RESOURCES LIMITED
Toliara Sands Project acquisition completed
Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) is
pleased to advise that the Toliara Sands Project acquisition has now completed.
With payment of the US$75 million up-front consideration by Base Resources, the
initial 85% interest in the wholly owned Mauritian subsidiaries of World Titane
Holdings Ltd, which between them hold a 100% interest in the Toliara Sands
Project in Madagascar (held through wholly owned subsidiaries in Madagascar),
and control, has now been transferred to the Company. Base Resources will
acquire the remaining 15% interest, with a further US$17 million payable on
achievement of key milestones as the project advances to mine development.
Tim Carstens, Managing Director of Base Resources, commented:
"The Toliara Sands Project is a transformational acquisition and represents a
significant step in execution of the Company's strategic plan. We are excited
to now proceed with the development of what we consider to be one of the very
best mineral sands projects in the world. The strong support demonstrated by
institutional and retail shareholders, as well as the Base Resources management
team, through participation in the capital raising reflects a shared
enthusiasm."
For further details of the Toliara Sands Project, and Base Resources' proposed
development plan, refer to the market announcement and investor presentation
released on 19 December 2017[1].
[Note 1: Refer to Base Resources' market announcement "Transformational
Acquisition of the Toliara Sands Project and A$100 million share offer" and
investor presentation "Investor Presentation - Acquisition and Entitlement
Offer" each released on 19 December 2017, which are available at http://
www.baseresources.com.au/investor-centre/asx-releases.]
ENDS.
CORPORATE PROFILE
Directors
Keith Spence (Non-Executive Chairman)
Tim Carstens (Managing Director)
Colin Bwye (Executive Director)
Sam Willis (Non-Executive Director)
Michael Stirzaker (Non-Executive Director)
Malcolm Macpherson (Non-Executive Director)
Company Secretary
Chadwick Poletti
NOMINATED ADVISOR & BROKERS
RFC Ambrian Limited
As Nominated Adviser:
Andrew Thomson / Stephen Allen
Phone: +61 (0)8 9480 2500
As Joint Broker:
Jonathan Williams
Phone: +44 20 3440 6800
Numis Securities Limited
As Joint Broker:
John Prior / James Black / Paul Gillam
Phone: +44 20 7260 1000
SHARE REGISTRY: ASX
Computershare Investor Services Pty Limited
Level 11, 172 St Georges Terrace
PERTH WA 6000
Enquiries: 1300 850 505 / +61 (3) 9415 4000
www.computershare.com.au
SHARE REGISTRY: AIM
Computershare Investor Services PLC
The Pavilions
Bridgwater Road
BRISTOL BS99 6ZZ
Enquiries: +44 (0) 870 702 0003
www.computershare.co.uk
AUSTRALIAN MEDIA RELATIONS
Cannings Purple
Andrew Rowell
arowell@canningspurple.com.au
Phone: +61 (0)8 6314 6300
UK MEDIA RELATIONS
Tavistock Communications
Jos Simson / Barnaby Hayward
Phone: +44 (0) 207 920 3150
KENYA MEDIA RELATIONS
Africapractice (East Africa)
Evelyn Njoroge / Joan Kimani
Phone: +254 (0)20 239 6899
Email: jkimani@africapractice.com
PRINCIPAL & REGISTERED OFFICE
Level 1, 50 Kings Park Road
West Perth, Western Australia, 6005
Email: info@baseresources.com.au
Phone: +61 (0)8 9413 7400
Fax: +61 (0)8 9322 8912
END
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January 23, 2018 02:00 ET (07:00 GMT)
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