AIM and ASX-listed Base Resources could add 7.5 months to the life of its Kwale operation in Kenya after prefeasibility work pointed to the economic viability of mining higher grade areas of two deposits.
Base is currently hoping to continue being a mineral sands producer in Kenya till at least mid-2024
Should feasibility work confirm this, Kwale could continue production until mid-2024.
The capital cost is estimated at US$13.6 million.
Adding life to Kwale comes as the company effectively awaits the green light for developing the world scale, multi-decade Toliara project in Madagascar.
The current hope is for first production from Toliara in 2025.
Shares in Base were trading this week at A30c, capitalising the debt-free miner at $353 million.
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