Base Resources Reports Full-Year Production Results

Base Resources has announced that its full-year production for the fiscal year ending June 30th is in line with expectations. However, the company experienced a decline in output during the fourth quarter. Despite this, Base Resources has confirmed its fiscal 2024 production guidance.

Production Highlights

During the fiscal year, Base Resources produced the following:

• 68,784 metric tons of rutile
• 297,861 tons of ilmenite
• 25,954 tons of zircon

Notably, all production figures were within their respective guidance ranges.

Fourth Quarter Performance

In the fourth quarter, there was a decline in production across all three minerals:

• Rutile production fell by 28% to 13,800 tons.
• Ilmenite output declined by 34% to 55,500 tons.
• Zircon production slipped by 19% to 5,500 tons.

Sales Revenue and Operating Costs

Sales revenue slightly increased in the quarter, reaching $695 per ton compared to $691 in the previous year. However, operating costs rose to $240 per ton from $152, resulting in a cost ratio of 2.6 compared to 3.5.

Fiscal Year 2024 Production Guidance

Looking ahead to fiscal year 2024, Base Resources has reaffirmed its production guidance set out last month. The company expects the following production volumes:

• Rutile: between 35,000 and 41,000 tons
• Ilmenite: between 130,000 and 160,000 tons
• Zircon: between 13,000 and 16,000 tons

For more information, please contact Christian Moess Laursen.