Base Resources full year loss widens despite revenue rise
Published: Tuesday, 22 September 2015
Despite the continuing challenging environment, the Australian miner has seen a jump in sales for its zircon, ilmenite and rutile products. Nevertheless, a large pile of debt and fluctuations in the US dollar exchange rate has caused the firm to widen its losses for its fiscal year 2015.
Base Resources Ltd said its pre-tax loss
widened for the year ended 30 June 2015, despite reporting a
substantial rise in revenue as a result of the company
completing its first full year of production, which was offset
by debt adding to its financing costs.
The miner reported an Australian...