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Kwale delivers for Base while fiscal discussion in Madagascar delayed

Mineral sands miner Base Resources has reported operations in Kenya going well while discussions in Madagascar about its next development have been halted as the government of that country focuses on COVID-19.
Kwale delivers for Base while fiscal discussion in Madagascar delayed Kwale delivers for Base while fiscal discussion in Madagascar delayed Kwale delivers for Base while fiscal discussion in Madagascar delayed Kwale delivers for Base while fiscal discussion in Madagascar delayed Kwale delivers for Base while fiscal discussion in Madagascar delayed

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Base and Madagascan authorities have yet to agree on the fiscal terms of the proposed Toliara development.

Meanwhile in Kenya, the Kwale operation reported production increases in the March quarter, with guidance for the full-year ending June 30 unchanged.

https://ssl.gstatic.com/ui/v1/icons/mail/images/cleardot.gifBase described customer demand for Kwale's mineral sand products as being "sound".

Regarding COVID-19, Base has fully drawn a US$75 million debt facility to "enhance liquidity and provide flexibility" during the pandemic.

Shares in Base were up nearly 5% to A15.7c in morning trade, capitalising the company at $184 million.

The stock has spent much of the past 12 months trading at levels around 20-25c.