Base Resources' Q4 2019 Activities Report
January 23, 2020
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the recent announcement made by Base Resources Limited (“Base”) of that company’s Q4 2019 activities report. Base is the operator of the Kwale mineral sands project located in Kenya, on which Elemental Royalties holds a 0.25% GRR royalty.
Elemental is pleased to note the positive report from Base, where operations at Kwale steadily increased production following a ramp up in mining operations last quarter after the successful transition of mining operations to the South Dune orebody. As expected, heavy mineral (HM) grades increased as mining advanced from the lower grade fringes towards the centre of the orebody.
Mining operations continued on the South Dune orebody with mined tonnage of 4.6Mt, lower than the 4.9Mt for Q3 2019. Base confirmed that productivity was impacted by lower face heights and reduced water pressures as the hydro mining guns approached the end of the current mining blocks and the distance from the pumping stations increased. As hydraulic mining units are re-located to new mining blocks during the coming quarter, productivity is expected to improve.
The text above is Elemental Royalties’ comment to the operator’s news release and is not included within the original release. The original article is available using the links below.
About Elemental Royalties Limited
Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.
Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.
Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.
For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:
|Elemental Royalties Limited|
|T: +44 (0)203 983 7040|
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