Base Resources

The Mid West region has welcomed another iron ore player with West Perth-based Base Iron Ltd opening its $5 million initial public offer today.

Base Resources managing director Tim Carstens has sold 1.15 million shares to raise $655,500, and has also exercised 2 million options to acquire shares at a cost of 25 cents each, bringing his total stake in the mineral sands

Perth-based miners Sandfire Resources and Base Resources say they have taken major steps towards finalising funding arrangements for the development of their flagship projects.

Base Resources says it has finalised arrangements for its previously announced $US170 million finance facility to fund the development of its Kwale mineral sands project in Kenya.

Base Resources has signed a key off-take agreement with Dupont Titanium Technologies for mineral sands produced from its flagship Kwale project in Kenya.

Former Iluka Resources boss Malcolm Macpherson has joined the board of Base Resources.Mr Macpherson is currently chair of Pluton Resources and a director of Bathurst Resources.

Base Resources is set to increase its working capital for the ramp-up of its Kwale mineral sands project in Kenya by a further $US25 million up to a total debt facility of $US215 million.

Perth-based Mineral sands miner Base Resources has launched a scrip takeover offer for ASX-listed World Titanium Resources, which owns the Toliara Sands project in Madagascar, after securing extra funds for its Kwale project.

Mineral sands miner Base Resources is pushing on with its takeover bid for World Titanium Resources, despite the target declaring yesterday the bid is not capable of succeeding.

Mineral sands miner Base Resources has admitted defeat in its attempt to take over World Titanium Resources.

Board changes

The University of Western Australia has appointed John Barrington as the chair of the Perth International Arts Festival, following the retirement of Margaret Seares who served in the role since 2012.

West Perth-based miner Base Resources closed the day up 4.5 per cent to 11.5 cents a share after its quarterly report announced record sales volumes across all its products.

Mineral sands miner Base Resources has received a force majeure notice from one of its offtake partners, which will affect an $US11.6 million ilmenite sales agreement.

Tim Carstens has been appointed as new chairman of Australia-Africa Minerals & Energy Group (AAMEG). Mr Carstens takes over the role from long-serving chairman and one of the organisation’s founding directors, Bill Turner.

Former Woodside Petroleum executive Keith Spence has resigned as a director of Oil Search to join rival oil and gas producer Santos as chairman.

Emerging Goldfields explorer NTM Gold Limited (ASX: NTM) (“NTM” or “the Company”) is pleased to announce it has raised $1.5 million in a heavily oversubscribed placement of new shares. The new shares were priced at 5¢, a modest 8% discount to NTM’s pre-trading halt close of 5.4¢ on January 11.

Westgold Resources Limited (ASX:WGX) (Westgold) is pleased to advise that its wholly owned subsidiary, HBJ Minerals Pty Ltd (HBJ) has signed mining tribute agreement over Cannon Mine area.

Our board moves wrap includes Nicolaus Heinen, Sam Willis, Janine Herzig, Barry Patterson, Robert Marusco, Andrew Jones, Andrew Bald, Anthony Hamilton, Claire Newstead-Sinclair, Derek Humphry, and Diane Smith-Gander.

Our board moves wrap includes Michael Stirzaker, Keith Spence, Colin Bwye, Brian Thomas, Jessica O'Neil, Paul Evans, and Sara Kelly.

Our board moves wrap includes Janine Herzig, Sebastian Andre, Adrien Wing, Peter Hatfull, Andrew Palfreyman, and Emma Scotney.

Our board moves wrap includes Chris Radin, Sheila Khama, Stirling Ross, Gerry Kaczmarek, Tony Kiernan, Derek Humphry, Dale Richards, Nerida Schmidt, Patricia Farr, Simon Robertson, Susan Park, Peter Webse, ChongTao Xu, Andrew Taplin, Carol Marinkovich, Rowan Harland, Arron Canicais, David Lim, Andrew Woskett, Benjamin Donovan, and Shaun Menezes.

Our board moves wrap includes Malcolm Macpherson, Phil Harcourt, Chris Oates, Norman Taylor, Trevor Dixon, Rafael Moreno, and Kevin Das.