Debt and low TiO2 prices hinder Base Resources H2 earnings

By Kasia Patel
Published: Monday, 29 February 2016

While the company rescheduled its Kwale debt, which helped to increase working capital, the reclassification of its Taurus debt facility held by its parent company means that the company will need to seek additional funding options to stay on top of debt repayments – a situation further compounded by low mineral sands prices.

ASX-listed Base Resources Ltd has reported a loss of Australian dollar (A$) 11.5m ($8.2m*) after tax for the second half of 2015, compared with a loss of A$10.2m for the same period in 2014.

The company reported EBITDA** of A$29.7m, up 19% year-on-year (y-o-y) before financing...

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