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Base Resources appoints partners to deliver pre-feasibility study for Toliara

The AIM-listed miner said it had appointed Mineral Technologies and Lycopodium, who had aligned to support the delivery of the PFS
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The firm completed its acquisition of Toliara in the first quarter of 2018

Base Resources Limited (LON:BSE) has appointed partners to deliver the pre-feasibility study (PFS) for its Toliara mineral sands project in the south-west of Madagascar.

The AIM-listed miner said it had appointed Mineral Technologies and Lycopodium, who had strategically aligned to bring their project delivery skills to support the delivery of the PFS, having previously undertaken studies and projects in mineral sands, including previous work on the Toliara project.

READ: Base Resources highlights strong prices as it repeats full year guidance

The group added that it anticipated that the PFS would be completed in the March quarter of 2019, which in combination with work done by previous owners of the site formed the foundations of an accelerated feasibility study.

Base Resources is aiming to advance the project toward a decision to begin construction on the site in the second half of 2019.

The firm completed its acquisition of Toliara in the first quarter of 2018, where it raised A$97mln and made the initial US$75mln payment for the acquisition.

In mid-morning trading Tuesday, Base Resources shares were up 3.9% at 14.5p.

--Adds share price--

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