Recent Insider Transactions • Sep 13
General Manager of Marketing recently sold €271k worth of stock On the 10th of September, Stephen Hay sold around 2m shares on-market at roughly €0.14 per share. This transaction amounted to 79% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. New Risk • Sep 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings are forecast to decline by an average of 77% per year for the foreseeable future. Upcoming Dividend • Sep 10
Upcoming dividend of AU$0.065 per share Eligible shareholders must have bought the stock before 17 September 2024. Payment date: 01 October 2024. The company last paid an ordinary dividend in August 2020. The average dividend yield among industry peers is 4.5%. Reported Earnings • Aug 27
Full year 2024 earnings released: US$0.001 loss per share (vs US$0.004 loss in FY 2023) Full year 2024 results: US$0.001 loss per share (improved from US$0.004 loss in FY 2023). Revenue: US$135.1m (down 50% from FY 2023). Net loss: US$1.64m (loss narrowed 66% from FY 2023). Revenue is expected to decline by 85% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Anuncio • Aug 26
Base Resources Limited Announce Special Dividend, Payable on October 1, 2024 Base Resources Limited has determined to pay a special dividend of AUD 6.5 cents per share (unfranked) (Special Dividend), conditional on the scheme of arrangement to effect the Company’s combination with Energy Fuels Inc. becoming effective (Scheme). Ex-date 17 September 2024, Special Dividend record date Date 18 September 2024, Special Dividend payment date 1 October 2024. Declared Dividend • Aug 05
Dividend of AU$0.065 announced Shareholders will receive a dividend of AU$0.065. Ex-date: 17th September 2024 Payment date: 1st October 2024 Dividend yield will be 42%, which is higher than the industry average of 4.8%. Anuncio • Jul 23
Base Resources Limited Reaffirms Production Guidance for the Fiscal Year 2025 Base Resources Limited reaffirmed production guidance for the fiscal year 2025. For the year 2025, to end of mine life, the company expects Rutile production of 17,000 tonnes to 19,000 tonnes. Ilmenite production of 55,000 tonnes to 63,000 tonnes. Zircon production of 5,500 tonnes to 7,000 tonnes. Anuncio • Apr 30
Base Resources Limited Revises Production Guidance for the Year 2024 and Provides Production Guidance for the Year 2025 Base Resources Limited revised production guidance for the year 2024 and provided production guidance for the year 2025. For the year 2024, the company now expects Rutile production of 38,000 tonnes to 42,000 tonnes compared to previous guidance of 35,000 tonnes to 41,000 tonnes; Ilmenite production of 145,000 tonnes to 160,000 tonnes compared to previous guidance of 130,000 tonnes to 160,000 tonnes; and Zircon production of 15,000 tonnes to 17,000 tonnes compared to previous guidance of 13,000 tonnes to 16,000 tonnes.For the year 2025, to end of mine life, the company expects Rutile production of 17,000 tonnes to 19,000 tonnes. Ilmenite production of 55,000 tonnes to 63,000 tonnes. Zircon production of 5,500 tonnes to 7,000 tonnes. Anuncio • Feb 28
Base Resources Limited Omits to Pay Interim Dividend Base Resources Limited announced that in light of progress achieved and the Government’s demonstrated level of focus and engagement, in applying the Company’s capital management policy the Board has decided not to pay an interim dividend. Reported Earnings • Feb 28
First half 2024 earnings released: US$0.001 loss per share (vs US$0.039 profit in 1H 2023) First half 2024 results: US$0.001 loss per share (down from US$0.039 profit in 1H 2023). Revenue: US$73.1m (down 42% from 1H 2023). Net loss: US$1.47m (down 103% from profit in 1H 2023). Revenue is forecast to decline by 72% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Anuncio • Jan 31
Base Resources Limited to Report First Half, 2024 Results on Feb 26, 2024 Base Resources Limited announced that they will report first half, 2024 results on Feb 26, 2024 Anuncio • Dec 15
Base Resources Limited Announces Additional Critical Mineral Product Stream Doubles Toliara Project's NPV Base Resources Limited released the outcomes of its pre-feasibility study on exploitation of the contained monazite at its Toliara Project in Madagascar through concentration of the existing waste stream from the project’s mineral sands processing facilities to produce a valuable monazite product (Monazite PFS). On an incremental basis, the Monazite PFS has delivered exceptional outcomes and is a significant enhancement of the Toliara Project as outlined in the enhanced definitive feasibility study on the project’s mineral sands (Mineral Sands DFS2). For modest additional estimated capital expenditure of USD 71 million, the Monazite PFS outcomes include an incremental post-tax/pre-debt (real) NPV10 of USD 1.0 billion, IRR of 79% and an average revenue to cost of sales ratio of 7.9, over an initial 38-year mine life. When combined with the Mineral Sands DFS2, the Toliara Project has an overall post-tax/pre-debt (real) NPV10 of USD 2.0 billion. Key Points: Pre-feasibility study on the production of monazite has significantly enhanced the forecast financial returns from the Toliara Project. With an incremental NPV10 of USD 1.0 billion (post-tax, real), the Monazite PFS has doubled the Toliara Project’s overall NPV10 to USD 2.0 billion (post-tax, real). Monazite is a rich source of rare earth elements critical to the world’s green energy transition and represents 2.0% of the heavy mineral in the Toliara Project’s Mineral Resources estimate. The Monazite PFS demonstrates that tails from the mineral sands processing planned under the Mineral Sands DFS2 can be easily upgraded to a monazite product, for modest additional capital expenditure. Capitalising on what is essentially a ‘waste’ stream will make the Toliara Project one of the largest and most cost-competitive sources of rare earth oxides globally. Other key incremental outcomes from the Monazite PFS include: IRR of 79%. Capex of USD 71 million and a capital payback period of 1 year. Average annual monazite production of 21.8kt, containing 2.8kt of NdPr. Board Change • Nov 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Diane C. Radley was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Nov 24
Base Resources Limited Announces Retirement of Malcolm Macpherson as Non-Executive Director Base Resources Limited advised that, after serving for more than 10 years, Malcolm Macpherson has informed the Board that he will retire as Non-Executive Director at the conclusion of the Company's Annual General Meeting to be held on 24 November 2023. Mr. Macpherson joined the Board in July 2013, overseeing achievement of many significant milestones, including completion of construction of Kwale Operations and its transition into a safe, efficient and highly profitable mining operation and the Company's acquisition and progression of the Toliara Project in Madagascar. As a result, Mr. Macpherson will not stand for re-election at the 2023 Annual General Meeting and item 3 in the Notice of 2023 AGM, seeking his re-election, is withdrawn. New Risk • Oct 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €93.7m (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings are forecast to decline by an average of 20% per year for the foreseeable future. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (€93.7m market cap, or US$99.0m). Anuncio • Oct 31
Base Resources Limited Provides Production Guidance for the Year 2024 Base Resources Limited provided production guidance for the year 2024. For the year, the company expects Rutile production of 35,000 to 41,000 tonnes. Ilmenite production of 130,000 to 160,000 tonnes. Zircon – 13,000 to 16,000 tonnes. Anuncio • Oct 30
Base Resources Limited Announces Kwale Operations to Complete Mining at End of 2024 Base Resources Limited announced that, following an exhaustive exploration and evaluation process seeking to further extend the life of the Company's Kwale Operations in Kenya, mining is expected to end in December 2024 as per the current mine plan. Processing activities will conclude shortly thereafter. After completing the previously announced evaluations of the two remaining near mine prospective areas, being the Kwale North Dune Mineral Resource not currently in the mine plan and the Kwale East exploration area, both lack sufficient grade or scale to support the capital investment required to extend or establish new mining operations. A significant factor in these evaluations is the limited remaining capacity of the Kwale Operations tailings storage facility, with any extension to the existing mine plan requiring an alternative tailings disposal solution that comes with a significant capital expenditure requirement and increased operating costs. Additional key factors considered in the Company's evaluations included the softening product price outlook for mineral sands over the relevant period, and the cost, timing and human impact of a substantial land acquisition and community resettlement program. On this basis, when existing Kwale Ore Reserves are fully depleted by December 2024 as expected, Kwale Operations will transition to post-mining as planned. Anuncio • Sep 15
Base Resources Limited, Annual General Meeting, Nov 24, 2023 Base Resources Limited, Annual General Meeting, Nov 24, 2023, at 11:00 W. Australia Standard Time. Location: Subiaco Room at the Vibe Hotel, 9 Alvan Street Subiaco Western Australia Australia Upcoming Dividend • Sep 01
Upcoming dividend of AU$0.04 per share at 27% yield Eligible shareholders must have bought the stock before 08 September 2023. Payment date: 28 September 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 27%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (8.8%). Reported Earnings • Aug 28
Full year 2023 earnings released: US$0.004 loss per share (vs US$0.069 profit in FY 2022) Full year 2023 results: US$0.004 loss per share (down from US$0.069 profit in FY 2022). Revenue: US$271.4m (down 2.8% from FY 2022). Net loss: US$4.84m (down 106% from profit in FY 2022). Revenue is forecast to decline by 52% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Anuncio • Aug 28
Base Resources Limited Announces Final Dividend, Payable on 28 September 2023 Base Resources Limited announced final dividend of AUD 4.0 cents per share, unfranked (FY23 Final Dividend). Ex-date is 8 September 2023. Record date is 11 September 2023. Payment date is 28 September 2023. Anuncio • Jul 26
Base Resources Limited Provides Production Guidance for the Financial Year 2024 Base Resources Limited provided production guidance for the financial year 2024. For the period, the company forecast production of Rutile to be in the range of 35,000 tonnes to 41,000 tonnes, Ilmenite to be in the range of 130,000 to 160,000, Zircon to be in the range of 13,000 to 16,000. Anuncio • Jul 25
Base Resources Limited to Report Q4, 2023 Results on Aug 28, 2023 Base Resources Limited announced that they will report Q4, 2023 results on Aug 28, 2023 Anuncio • Jul 04
Base Resources Limited Announces Kwale East Exploration Drilling Update Base Resources Limited release initial assay results from the first phase of scout auger drilling at its Kwale East exploration project (Kwale East) in Kwale County, Kenya (Phase 1). Kwale East is located within Prospecting Licence 2018/0119 and is the eastern expression of a large, mineralised Plio-Pleistocene dune system also covering the Kwale Central, South and North Dunes and the Bumamani deposit. Kwale East is located to the immediate east of the Company's Kwale Operations, with distances from Kwale Operations' processing facilities ranging from 2 to 6 km. Kwale East's close proximity to Kwale Operations' infrastructure makes it a near-term mine life extension opportunity. Exploration at Kwale East started in 2015 when a regional mapping exercise and desktop geological, geographical and geomorphological investigations of the mineral potential of the late Pliocene sediments were carried out. Historical geophysical surveys were reviewed but found to be insufficiently resolved. Consequently, a new airborne survey was commissioned to cover the southern coastal plain, from Mombasa to the Tanzanian border, as aeromagnetic and radiometric surveys are known to be effective tools for exploration of strand and dune deposits. Scout drilling targets were subsequently identified from coincident geophysical anomalism and compelling geomorphological features. In 2018, a 400m north by 100m east scout air core drilling program was completed in the northern part of Kwale East and 123 holes for 1,851.5m were drilled, with no significant continuous mineralisation intersected. This program did not extend over other portions of Kwale East, as landowner consents for those areas were not forthcoming at that time. Following a lengthy and concerted community engagement and sensitisation program, further landowner consents began to be obtained and a scout auger drilling program was commenced over other portions of KwaleEast in October 2022. Anuncio • Jun 27
Base Resources Limited Provides Production Guidance for the Financial Year 2024 Base Resources Limited provided production guidance for the financial year 2024. For the period, the company forecast production of Rutile to be in the range of 35,000 tonnes to 41,000 tonnes, Ilmenite to be in the range of 130,000 to 160,000, Zircon to be in the range of 13,000 to 16,000. Anuncio • May 10
Base Resources Limited Announces Update on Umba South Prospect Base Resources Limited provided assay results from the first phase of drilling at its Umba South Project - typically quite thin (1-2m) but can be locally up to 9m thick and has demonstrated widespread rutile mineralisation. Underlying saprolite material - variable thickness with sporadic rutile mineralisation, and does not appear to be sufficiently weathered to represent free-dig material from which rutile is readily liberated. Bedrock - heavy mineral content is variable but typically high grade (20%) however it is dominated by pyrite - a known deleterious element for mineral sands processing, requiring dedicated tailings handling and storage. Preliminary mineralogical assessment of drill samples is yet to be completed, with the presence of rutile calculated based on XRF analysis of the non-magnetic fraction of heavy mineral. While graphite is present in some drill samples, analysis suggests the overall grade and distribution of mineralisation is not significant. A Phase 2 infill drilling program to assess the continuity of saprolite mineralisation has been completed, with the results expected to be available in the September 2023 quarter. These results will assist in planning future exploration activity at Umba South and elsewhere along the prospective geological zone once necessary approvals are obtained. Base Resources Limited to provide assay results from the first phase the first phase of drilling at the Umba South Project ("Uua South") ("UUUa South"). Base Resources Limited ("UUa South") is pleased to provide assay results from the First phase of drilling at its Umb a first phase of drilling at its umba South Project ("UUa South") Project ("UUa South"). The Company is currently being completed in the first phase of drilling at it's Umba South Project is currently being completed. Umba South is located near the junction of the Umba and Bombo Rivers in northern Tanzania, approximately 75km west-south-west of the Company’s Kwale Operations in Kenya. Exploration at Umba South was designed to test the southern extremity of a prominent north-south trending ridge of quartzite and gneiss that extends 35km north to the Kuranze region of Kenya, where initial rock chip and soil sampling indicated the presence of rutile. With the Company unable to carry out exploration activities in Kuranze due to its prospecting licence applications for that area being on hold following the Government of Kenya’s ongoing moratorium on issuance of new mineral rights, efforts were instead directed to the southern portion of the ridge in Tanzania. Exploration activity in Tanzania has so far been confined to areas south of the Umba River, while the Company seeks to obtain the necessary approvals from various government departments to explore in the Mkomazi Game Controlled Area to the north which hosts the target ridge feature extending north to the Kenyan border. Upcoming Dividend • Mar 03
Upcoming dividend of AU$0.02 per share at 21% yield Eligible shareholders must have bought the stock before 10 March 2023. Payment date: 30 March 2023. Payout ratio is a comfortable 60% but the company is paying out more than the cash it is generating. Trailing yield: 21%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (8.0%). Anuncio • Feb 20
Base Resources Limited to Report First Half, 2023 Results on Feb 27, 2023 Base Resources Limited announced that they will report first half, 2023 results on Feb 27, 2023 Anuncio • Jan 24
Base Resources Limited Provides Production Guidance for the Financial Year 2023 Base Resources Limited provided production guidance for the financial year 2023. For the year, the company expects Rutile production to be in the range of 62,000 tonnes to 73,000 tonnes. Ilmenite production to be in the range of 260,000 tonnes to 310,000 tonnes. Zircon production to be in the range of 22,000 tonnes to 27,000 tonnes. Recent Insider Transactions • Dec 23
Independent Non-Executive Chairman recently bought €61k worth of stock On the 20th of December, Michael Stirzaker bought around 425k shares on-market at roughly €0.14 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 11
Key Executive recently bought €374k worth of stock On the 10th of March, Colin Bwye bought around 2m shares on-market at roughly €0.22 per share. This was the largest purchase by an insider in the last 3 months. This was Colin's only on-market trade for the last 12 months. Upcoming Dividend • Mar 04
Upcoming dividend of AU$0.03 per share Eligible shareholders must have bought the stock before 11 March 2022. Payment date: 31 March 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 23%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (8.7%). Reported Earnings • Mar 02
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: US$0.016 (up from US$0.005 loss in 1H 2021). Revenue: US$104.6m (up 44% from 1H 2021). Net income: US$19.2m (up US$25.6m from 1H 2021). Profit margin: 18% (up from net loss in 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Executive Departure • Nov 26
Independent Non-Executive Chairman Keith Spence has left the company On the 26th of November, Keith Spence's tenure as Independent Non-Executive Chairman ended after 6.5 years in the role. As of September 2021, Keith still personally held 666.67k shares (€101k worth at the time). Keith is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 9.50 years. Upcoming Dividend • Sep 03
Upcoming dividend of AU$0.04 per share Eligible shareholders must have bought the stock before 10 September 2021. Payment date: 29 September 2021. Trailing yield: 25%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (6.5%). Reported Earnings • Aug 31
Full year 2021 earnings released: EPS US$0.009 (vs US$0.034 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: US$198.2m (down 4.7% from FY 2020). Net income: US$11.0m (down 72% from FY 2020). Profit margin: 5.5% (down from 19% in FY 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Feb 24
First half 2021 earnings released: US$0.005 loss per share (vs US$0.008 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: US$72.8m (down 13% from 1H 2020). Net loss: US$6.34m (down 169% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Recent Insider Transactions • Sep 24
Key Executive recently sold €110k worth of stock On the 17th of September, Colin Bwye sold around 600k shares on-market at roughly €0.18 per share. This was the largest sale by an insider in the last 3 months. This was Colin's only on-market trade for the last 12 months.