Debt and low TiO2 prices hinder Base Resources H2 earnings
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...