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BASE RESOURCES LIMITED - Kwale Operations impacted by local rainstorms

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AIM and Media Release

6 June 2022

BASE RESOURCES LIMITED
Kwale Operations impacted by local rainstorms

African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources or the Company) advises that mining at the Company’s Kwale Operations has been impacted by recent abnormal rainstorms in Kwale County, Kenya. This series of rainstorms over recent days resulted in flash flooding that overwhelmed the dewatering systems for the three operating hydraulic mining units (HMUs). Recovery work is underway, with one of three HMUs back in operation and delivering approximately 45% of normal mining volumes. The remaining two HMUs are currently not operating as they continue to be dewatered and replacement of the pump motors progresses.

While the timing for returning to full mining volumes is uncertain, it is not currently expected that the Company’s production guidance for financial year 2022 will need to be revised1.

A further update will be provided once the timing for returning to full mining volumes becomes clear.

[Note (1): Refer to Base Resources’ announcement on 19 October 2021 “Quarterly Activities Report – September 2021” for the Company’s FY2022 production guidance.]

ENDS.

For further information contact:

James Fuller, Manager Communications and Investor Relations

UK Media Relations

Base Resources

Tavistock Communications

Tel: +61 (8) 9413 7426

Jos Simson and Gareth Tredway

Mobile: +61 (0) 488 093 763

Tel: +44 (0) 207 920 3150

Email: jfuller@baseresources.com.au

About Base Resources

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The Company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. Base Resources is an ASX and AIM listed company. Further details about Base Resources are available at www.baseresources.com.au

PRINCIPAL & REGISTERED OFFICE
Level 3, 46 Colin Street
West Perth, Western Australia, 6005
Email: info@baseresources.com.au
Phone: +61 (0)8 9413 7400
Fax: +61 (0)8 9322 8912

NOMINATED ADVISOR
RFC Ambrian Limited

Stephen Allen
Phone: +61 (0)8 9480 2500

JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800

JOINT BROKER
Canaccord Genuity
Raj Khatri / James Asensio / Patrick Dolaghan
Phone: +44 20 7523 8000

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