AIM and Media Release
18 April 2018
BASE RESOURCES LIMITED
Quarterly Activities Report – March
2018
HIGHLIGHTS
- Strengthening of prices in all products.
- Record zircon sales at 9.9kt.
- Successful commissioning of Kwale Phase 2 optimisation
project.
- Commencement of the next phase of exploration drilling at Kwale
Operations.
- No lost time injuries.
- Completion of the acquisition of the world-class Toliara Sands
Project in Madagascar.
- A$97 million capital raise
completed, providing the funding for the initial US$75 million purchase consideration for the
Toliara Sands Project.
- Net debt further reduced by US$4.8
million to US$60.8 million,
limited by peak KP2 spend, the Toliara Sands Project acquisition
and sales receipt timing.
“Figures” (graphics) referenced in this release have been
omitted. A full PDF version of this release, including all
Figures, is available from the Company’s website:
www.baseresources.com.au.
African mineral sands producer, Base Resources Limited
(ASX & AIM: BSE) (Base Resources or the Company)
is pleased to provide a quarterly corporate, development and
operational update for its Kwale Mineral Sands Operations (Kwale
Operations) in Kenya. Corporately, completion of the
transformational acquisition of the Toliara Sands Project and
associated capital raising has allowed project development
activities to now commence. Operationally, the focus has been
on finalising the Kwale Phase 2 mine optimisation project with
commissioning of the expanded wet concentrator plant underway and
progressing to plan. On the marketing front, pricing for
ilmenite, rutile and zircon have all strengthened during the
quarter.
KWALE OPERATIONS
PRODUCTION
& SALES |
Mar 2017
Quarter |
June 2017
Quarter |
Sept 2017
Quarter |
Dec 2017
Quarter |
Mar 2018
Quarter |
Production
(tonnes) |
|
|
|
|
|
Ilmenite |
112,368 |
119,364 |
119,376 |
119,209 |
111,630 |
Rutile |
23,107 |
22,762 |
22,789 |
22,798 |
21,634 |
Zircon |
8,212 |
8,375 |
9,136 |
9,569 |
9,166 |
Zircon low
grade[1] |
2,474 |
3,026 |
1,425 |
- |
- |
Sales (tonnes) |
|
|
|
|
|
Ilmenite |
122,783 |
142,405 |
106,260 |
119,554 |
140,665 |
Rutile |
21,416 |
27,779 |
12,594 |
25,377 |
25,526 |
Zircon |
8,069 |
8,540 |
9,283 |
8,144 |
9,884 |
Zircon low grade1 |
3,059 |
3,045 |
- |
3,287 |
- |
[Note (1): Zircon low grade tonnes
contained in concentrate, equivalent to approximately 70-80% of the
value of primary zircon.]
At the start of March, a month-long mining and wet concentrator
plant (WCP) shutdown was initiated on schedule to complete
final equipment installation and piping tie-ins for the Kwale Phase
2 (KP2) mine optimisation project (see below for further
detail). As a consequence, mined tonnage for the quarter was
significantly lower at 1.9 million tonnes (Mt) (from 2.9Mt
last quarter). Mined ore grade fell to 6.9% Heavy Mineral
(HM) (7.6% HM last quarter) as mining proceeds around the
north-western fringes of the Central Dune orebody.
Due to the KP2 shutdown and reflecting the ongoing transition to
hydraulic mining as the sole mining method, the hydraulic mining
unit (HMU) tonnes mined reduced marginally from the prior
quarter’s 1.2Mt to 1.1Mt and dozer mining unit (DMU) tonnes
mined declined from 1.7Mt to 0.8Mt for the quarter.
MINING & WCP
PERFORMANCE |
Mar 2017
Quarter |
June 2017
Quarter |
Sept 2017
Quarter |
Dec 2017
Quarter |
Mar 2018
Quarter |
Ore mined
(tonnes) |
2,664,738 |
2,975,694 |
3,023,550 |
2,882,529 |
1,883,159 |
HM % |
6.70 |
8.40 |
8.01 |
7.61 |
6.88 |
HMC produced
(tonnes) |
159,379 |
232,574 |
238,580 |
196,725 |
125,298 |
WCP production of heavy mineral concentrate (HMC) for the
quarter was lower at 125kt (197kt last quarter) and the HMC
stockpile was consequently reduced from 132kt to 77kt, with these
reductions attributable to the KP2 shutdown. Commissioning of
the expanded WCP commenced during the last week of March and HMC
production has now returned to pre-shutdown levels.
The tailings storage facility (TSF) sand wall stacking,
lining and slimes deposition continued according to plan, with the
final wall lift nearing completion. During the quarter, sand
stacking also commenced in the mined-out area of the Central Dune,
representing the start of rehabilitation in this section.
Rehabilitation of the TSF outer wall continued during the
quarter.
Above average rainfall of 162mm was received during the quarter,
resulting in the Mukurumudzi Dam being at 86% of capacity by the
end of March, ahead of the ‘long rains’ wet season between April
and June.
MSP
PERFORMANCE |
Mar
2017
Quarter |
June
2017
Quarter |
Sept
2017
Quarter |
Dec
2017
Quarter |
Mar
2018
Quarter |
MSP Feed (tonnes of
HMC) |
186,814 |
192,432 |
190,499 |
190,798 |
180,128 |
MSP feed rate
(tph) |
91 |
92 |
91 |
91 |
92 |
MSP recovery % |
|
|
|
|
|
Ilmenite |
101 |
101 |
100 |
100 |
101 |
Rutile |
99 |
98 |
100 |
100 |
99 |
Zircon |
74 |
73 |
75 |
77 |
78 |
Mineral separation plant (MSP) availability was lower at
91% (95% last quarter) with a total of 180.1kt of HMC processed
(190.8kt last quarter). These reductions were due to an
extended planned maintenance shutdown of 4 ½ days, timed to
coincide with the KP2 WCP shutdown, to refurbish a number of major
components in the MSP which had reached the end of their service
life.
Production of all finished products was slightly lower than the
prior quarter as a result of the lower availability.
Recoveries of ilmenite and rutile were steady whilst ongoing
optimisation of the wet and dry zircon circuits resulted in
continuing improvements in recovery.
Bulk loading operations at Base Resources’ Likoni Port facility
continued to run smoothly, dispatching more than 162kt of ilmenite
and rutile during the quarter (142kt last quarter).
Containerised shipments of rutile and zircon through the Mombasa
Port proceeded according to plan.
SUMMARY OF UNIT COSTS
& REVENUE PER TONNE (US$) |
Mar
2017
Quarter |
June
2017
Quarter |
Sept
2017
Quarter |
Dec
2017
Quarter |
Mar
2018
Quarter |
Unit operating costs
per tonne produced |
$87 |
$96 |
$90 |
$92 |
$98 |
Unit cost of goods
sold per tonne sold |
$111 |
$103 |
$107* |
$120* |
$114 |
Unit revenue per tonne
of product sold |
$258 |
$297 |
$285* |
$344* |
$314 |
Revenue:Cost of goods
sold ratio |
2.3 |
2.9 |
2.7 |
2.9 |
2.8 |
*Reported unit cost of sales and
revenue per tonne has been restated from that previously reported
due to an error in tonnes used.
Total operating costs were consistent with the prior
quarter. However, the lower total production volume explained
above resulted in a higher unit operating cost of US$98 per tonne produced (rutile, ilmenite,
zircon) (US$92 per tonne last
quarter). Cost of goods sold of US$114 per tonne sold (operating costs, adjusted
for stockpile movements, and royalties) was lower than last quarter
due to product sales mix and the associated cost allocation.
Revenue per tonne of product sold varies significantly each
quarter, with the number of bulk rutile sales during that quarter
being the primary factor. In a normal year, there are usually
seven or eight bulk rutile sales of approximately 10kt each, which
means any given quarter will typically contain either one or two of
these sales. As annual rutile sales account for approximately
40% of revenue but only 15% of volume, the number of bulk rutile
sales in a quarter has a significant bearing on revenue, but not
sales volume. The March quarter saw two bulk rutile sales
taking total rutile sales to 25.5kt, in line with last quarter’s
25.4kt total rutile sales. Despite higher rutile and zircon
prices, and higher zircon sales volumes, the significantly higher
ilmenite sales volume this quarter has resulted in the average
revenue per tonne decreasing to US$314 per tonne (US$344 last quarter).
KWALE PHASE 2 MINE OPTIMISATION
PROJECT
To counter declining ore grades expected from late 2018 onwards,
and to fully exploit the availability of MSP capacity, the Board
approved, in May 2017, implementation
of the KP2 Project (refer to the announcement on 23rd
May 2017[2]).
The KP2 Project aims to maximise HMC feed to the MSP for the
remaining life of mine, by increasing mining rates as ore grade
declines. This is being achieved through increasing the
hydraulic mining capacity to three 800tph HMUs, while gradually
phasing out the existing DMU. The WCP and water supply
infrastructure are being upgraded in parallel to accommodate the
higher mining rates.
Pre-shutdown construction activity peaked during the quarter
and, on schedule on the 1st March, both the mine and the
WCP were stopped for one month to allow completion of final
equipment and piping installations and tie-ins to existing plant
infrastructure. Recommissioning commenced in the last week of
March, with production of HMC recommencing during the second week
of April and has now ramped up to pre-shut levels with all
facilities performing to expectations. The implementation
schedule will see the second and third 800tph HMUs commissioned in
the June quarter of 2018. The three HMUs will ramp up to full
capacity through the course of 2018, with the DMU gradually phased
out over the same period.
The KP2 Project execution remains in line with the approved
expenditure budget.
Engineering and design work for the transition of mining from
the Central Dune to the South Dune will commence in mid-2018, with
construction completion scheduled for the second half of 2019.
[Note (2): Refer to Base
Resources’ market announcement “Board approves Kwale Phase 2 mine
optimisation project to deliver enhanced economics” released on
23rd May 2017, which is
available at
http://www.baseresources.com.au/investor-centre/asx-releases.]
FY2018 PRODUCTION GUIDANCE
Kwale Operations production guidance for financial year 2018
(FY2018) remains unchanged at:
- Rutile – 88,000 to 94,000 tonnes.
- Ilmenite – 450,000 to 480,000 tonnes.
- Zircon – 35,000 to 40,000 tonnes.
- Zircon contained in zircon low grade – 1,425
tonnes[3].
The above production guidance is based on the following
assumptions for FY2018:
- Mining of 10.9Mt (previously 10.6Mt) at an average HM grade of
7.28%, with mining for the remainder of FY2018 all from Ore
Reserves[4].
- MSP feed rate at an average of 91tph, consistent with recent
performance.
MSP product recoveries of 100% for ilmenite and 100% for rutile,
and 77% for zircon, consistent with recent performance.
[Note (3): No further production of
zircon low grade is anticipated for FY2018. Note (4):
The Ore Reserves estimates underpinning the above production
targets were prepared by Competent Persons in accordance with the
JORC Code (2012 edition). The above production targets are
the result of detailed studies based on the actual performance of
the Kwale mine and processing plant. These studies include
the assessment of mining, metallurgical, ore processing,
environmental and economic factors.]
MARKETING
Strength in the global TiO2 pigment industry
continued through the traditionally seasonally weak March
quarter. Ongoing high plant utilisation rates and low
inventory levels among major western pigment producers are
maintaining a strong pigment pricing environment.
Restrictions in Chinese pigment production, caused by government
environmental inspections and a winter gas shortage, have helped
underpin pigment prices through the usual seasonal slowdown in
pigment demand. Pigment prices from western and Chinese
producers have increased through the latter part of the March
quarter as demand began to accelerate in the lead up to the
northern hemisphere ‘painting season’.
The lead up to the seasonally strong June quarter, together with
the removal of environmental restrictions on many pigment producers
in China, resulted in increasing
demand and improved pricing for ilmenite in China in the latter part of the March
quarter. Chinese domestic ilmenite production was flat
through the March quarter and imports from Vietnam and India have continued to be restrained due to
political and market factors. In the absence of any new
environmental restrictions placed on major pigment producers in
China, or an unexpected
significant increase in supply, ilmenite prices are likely to trend
upwards through the June quarter.
A supply deficit in the high-grade feedstock sector (which
includes rutile), driven mostly by the strength in the western
chloride pigment sector, has significantly tightened the market in
recent quarters. This has translated into significant price
gains in the early part of 2018 for bulk rutile and chloride slag
sales to large mainstream customers.
Zircon demand continued to be strong through the March quarter
with volumes requested by customers remaining well above the
Company’s capacity to supply. Indications of ongoing tight
supply from major zircon sources through 2018 have supported
further substantial zircon price increases. In line with the
major zircon suppliers, Base Resources has again secured
significant price gains on zircon contracts for the June
quarter. Concerns from zircon producers over the potential
for substitution or thrifting of zircon by customers may begin to
restrain the extent and/or frequency of price increases going
forward.
SAFETY
With no serious injuries occurring during the quarter, Kwale
Operations’ lost time injury frequency rate (LTIFR) remains
at zero. Base Resources’ employees and contractors have now
worked 12.1 million man-hours LTI free, with the last LTI recorded
in the March quarter of 2014. With only one minor injury
occurring in the past 12 months, the total recordable injury
frequency rate (TRIFR) has fallen to 0.29 per 1 million
man-hours worked.
COMMUNITY AND ENVIRONMENT
Agricultural livelihood programs, run in conjunction with
partners Business for Development, DEG, FMO, Australia’s DFAT and
Kenya Red Cross, continue to develop with encouraging support from
both national and county Kenyan governments. These programs,
covering cotton, potato, sorghum, legumes, bee keeping and poultry,
are expanding to involve around 2,500 smallholder farmers and
community groups in the next planting season commencing in the June
quarter.
Sorghum harvest and commercial sales continue with a large local
brewing company and a solid relationship is developing between the
farmers’ cooperative and the brewer. Planning for the next
planting season is already underway with additional farmers signed
up.
Cotton from the 2017 crop has been ginned and is ready for
export to Bangladesh for further
processing into garments for multinational clothing retailer,
Cotton On. Preparations for the next season commencing in May
are underway with ploughing and soil testing completed by the
cooperative and soil inputs and seed procurement ongoing.
In February, the Kwale Cotton project was the recipient of a New
Vision for Development award from the World Economic Forum,
recognising innovative approaches to sustainable development.
The Company’s scholarship program in Kenya has reached another milestone with just
over 1,500 students benefiting from awards for secondary and
tertiary education providing much needed support for bright
students from disadvantaged backgrounds to continue their
studies.
BUSINESS DEVELOPMENT
TOLIARA SANDS PROJECT ACQUISITION
On 23 January 2018[5],
Base Resources completed the acquisition of the Toliara Sands
Project in Madagascar.
Following payment of the US$75 million up-front
consideration by Base Resources, the initial 85% interest in, and
control of, 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) 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.
The Toliara Sands Project is considered by Base Resources to be
one of the best mineral sands development projects in the
world. It is underpinned by the Ranobe deposit which has a
JORC 2012 Mineral Resource of 857Mt
at 6.2% heavy mineral, including 612Mt at 6.7% heavy mineral in the Measured and
Indicated Categories.[6]
The acquisition was funded by a A$97
million share offer which completed on 22 January 2018, refer below for further
details.
[Note (5): Refer to Base Resources’ market
announcement “Toliara Sands Project acquisition completed” released
on 23 January 2018, which is
available at
http://www.baseresources.com.au/investor-centre/asx-releases.
Note (6): Refer to Base Resources’ market announcement
“Investor Presentation - Acquisition and Entitlement Offer”
released on 19 December 2017, which is available at
http://www.baseresources.com.au/investor-centre/asx-releases, which
contains the JORC competent persons statement for this estimate of
Mineral Resource. The Company confirms that it is not aware
of any new information or data that materially affects the
information included in that announcement and that all material
assumptions and technical parameters underpinning the Mineral
Resource estimates in that announcement continue to apply and have
not materially changed.]
TOLIARA SANDS PROJECT DEVELOPMENT
Building on the sound work completed to date, Base Resources’
development plan is to complete a full study phase ahead of a
decision to proceed to construction in the second half of calendar
year 2019 (H2 CY19). This timetable could be expected
to see the Toliara Sands Project in production in H2 CY21.
During the quarter, following acquisition completion, a
high-level concept study to identify and assess various enhancement
options was commenced, with a screened short list to be taken
forward for evaluation during the prefeasibility study
(PFS). The concept study is scheduled to be completed,
and the PFS commenced, in the June quarter.
The selection process to appoint an engineering consultant to
lead the PFS and definitive feasibility study (DFS) for the
Toliara Sands Project was initiated during the quarter.
Tender submissions have been received from a panel of engineering
consultants and contract award is targeted for the June
quarter.
Stage 1 of the PFS aims to select the preferred development
option by Q3 CY18, with the final PFS targeted for completion in Q1
CY19. DFS completion is expected in Q3 CY19.
A number of long lead activities commenced during the quarter
which will feed into the PFS and the DFS, including:
- Excavation of a 100-tonne bulk sample which is currently in
transit to Australia for a full
program of wet and dry plant testwork, which will inform process
flow sheet design.
- Mobilisation of a drill rig to site, with drilling expected to
commence in the June quarter.The drill program aims to define the
boundaries of the Mineral Resource, upgrade the existing Inferred
Resource to Indicated status, and complete an Ore Reserve
estimation.
Total expenditure on the Toliara Sands Project for the quarter
was US$1.0 million.
EXTENSIONAL EXPLORATION – KENYA
As announced on 4th October
2017[7], an updated Mineral Resource estimate for
the Kwale South Dune (the 2017 Kwale South Dune Mineral
Resource) was completed, resulting in a 19% increase in
contained in situ HM in the Measured and Indicated
categories. Completion of an updated Ore Reserve based on the
2017 Kwale South Dune Mineral Resource is subject to finalisation
of mining tenure arrangements with the Kenyan Ministry of
Mines.
The next phase of extensional exploration drilling at Kwale
Operations commenced in early April in the North-East Sector of the
Company’s Kwale Special Prospecting License (SPL) 173,
adjacent to the Kwale Operations Central Dune.
The Company’s Vanga SPL application has been approved by the
Mineral Rights Board and is awaiting issuance. Once issued,
the current drilling program will be extended to incorporate this
SPL.
[Note (7): Refer to Base Resources market
announcement “Mineral Resource Increase for Kwale South Dune”
released on 4 October 2017, which is
available at
http://www.baseresources.com.au/investor-centre/asx-releases, which
contains the JORC competent persons statement for this estimate of
Mineral Resource. The Company confirms that it is not aware
of any new information or data that materially affects the
information included in this ASX announcement and that all material
assumptions and technical parameters underpinning the Mineral
Resource estimates in this announcement continue to apply and have
not materially changed.]
EXPLORATION - TANZANIA
The Company holds five prospecting licences in northern
Tanzania with a combined area of
475km2. A stratigraphic drilling program across
all five licences was completed during the quarter to enhance our
understanding of the area’s geology, marine sequences and potential
to host heavy mineral. Drill samples have been delivered to
the Kwale Operations laboratory for analysis and results are
expected to be available over the course of the next few
months. These drill results will inform the Company’s future
exploration strategy in Tanzania.
Total exploration expenditure for the quarter, across all
licences in Kenya and Tanzania, was US$177,000.
CORPORATE
COMPLETION OF SHARE OFFER TO FUND
ACQUISITION OF TOLIARA SANDS PROJECT
On 19 December 2017[5],
Base Resources launched a partially underwritten combined share
placement to institutional investors and a 1 for 3 accelerated pro
rata renounceable entitlements offer (Offer) at a price of
A$0.255 per share to fund the
US$75 million initial consideration
for the acquisition of the Toliara Sands Project.
The institutional placement and the institutional component of
the Offer were successfully completed on 5
January 2018, raising gross proceeds of approximately
A$89.3 million from the issue of
350,074,625 new fully paid new shares at A$0.255 per share. The retail component of
the Offer was completed on 22 January
2018, raising gross proceeds of approximately A$7.7 million from the issue of 30,306,450 new
fully paid new shares at A$0.255 per
share.
CORPORATE REVOVLVING CREDIT FACILITY
EXTENDED
During the quarter, the Company’s existing US$25 million revolving credit facility (RCF) was
extended by a further US$5 million to US$30 million, as permitted by the facility
terms, to provide Base Resources with additional funding
flexibility. All other facility terms remain unchanged.
NET DEBT REDUCTION
During the quarter, the Company’s net debt reduced by
US$4.8 million to US$60.8 million. The net debt reduction was
lower than the prior quarter’s US$21.0
million, despite higher sales and similar operating costs,
due to several factors, primarily:
- Increased KP2 project expenditure of US$10.8 million (US$9.1
million last quarter).
- An increase in working capital (principally debtors due to
timing of sales) of US$9.3 million
(US$2.2 million reduction last
quarter).
- Toliara Sands Project acquisition transaction costs of
US$3.3 million and project
development costs of US$1.0 million were incurred during the
quarter.
NEW BOARD APPOINTMENT
On 1 February 2018, Diane
Radley was appointed to the Board of Base Resources as an
independent non-executive director, bringing significant and
diverse African, business leadership, strategy and financing
experience to the Company.
Diane has an exceptional pedigree in African business having
most recently served as CEO of Old Mutual Investment Group,
Africa’s largest asset manager. Prior to this, she was Chief
Financial Officer with both Old Mutual South Africa and Allied
Electronics Corporation, and Partner-in-charge of the Transaction
Services Group in the Johannesburg
office of PricewaterhouseCoopers. In 2015, she was recognised
as “Africa’s Leading Woman in Business” by African Investor
(New York).
KENYAN VAT RECEIVABLE
As previously announced, Base Resources has refund claims for
VAT paid in Kenya, relating to
both the construction of the Kwale Project and the period since
operations commenced, totalling approximately US$20.8 million at 31 March 2018. These
claims are proceeding through the Kenya Revenue Authority process,
although no refunds were received during the quarter (US$4.4 million last quarter). Base
Resources is continuing to engage with the Kenyan Treasury and the
Kenya Revenue Authority, seeking to expedite the remainder of the
refunds.
In summary, at 31 March 2018:
- Net debt of US$60.8 million,
consisting of:
- Cash and cash equivalents were US$27.3
million (unrestricted) and an additional US$30.9 million (restricted – debt service
reserve account).
- Debt of US$119.1 million (Kwale
Project Debt Facility US$106.6
million and Corporate RCF US$12.5
million).
- 1,127,575,014 shares on issue.
- 61,425,061 options (exercise price of A$0.40, expiring 31 December 2018).
- 71,281,661 performance rights issued pursuant to the terms of
the Base Resources Long Term Incentive Plan.
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)
Diane Radley (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