Kwale delivers for Base while fiscal discussion in Madagascar delayed

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here

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.

Base 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.