Sales Agreement - Notice of Volume Reduction Re...

AIM and Media Release 

15 February 2016

BASE RESOURCES LIMITED
Sales Agreement - Notice of Volume Reduction Received

Base Resources Limited (ASX & AIM: BSE) (“Base” or the “Company”) advises that it has received a notice from a counterparty to a long term rutile sales agreement (“Agreement”) exercising its contractual right to reduce the annual quantity of rutile to be purchased by the counterparty by approximately 20kt in the current contract year (“Reduction”).  The Reduction has been implemented in response to an overall decrease in the counterparty’s operational requirements for high grade titanium feedstocks.

The Reduction is expected to impact approximately 6kt of planned rutile sales in FY2016, with the balance of the Reduction to be allocated over the remaining contract year to 31 January 2017. 

The Company will explore all available options for selling the rutile concerned to other customers and anticipates being able to secure alternate sales over the coming twelve month period.

A full PDF version of this release is available from www.asx.com.au and on the Company's website:  www.baseresources.com.au.

ENDS

CORPORATE PROFILE

Directors
Keith Spence (Non-Executive Chairman)
Tim Carstens (Managing Director)
Colin Bwye (Executive Director)
Sam Willis (Non-Executive Director)
Michael Anderson (Non-Executive Director)
Michael Stirzaker (Non-Executive Director)
Malcolm Macpherson (Non-Executive Director)

Company Secretary
Chadwick Poletti

NOMINATED ADVISOR & BROKER
RFC Ambrian Limited
As Nominated Adviser:
Andrew Thomson / Stephen Allen
Phone: [phone]
As Broker:
Jonathan Williams
Phone: [phone]

SHARE REGISTRY:  ASX
Computershare Investor Services Pty Limited
Level 11, 172 St Georges Terrace
PERTH WA 6000
Enquiries: 1300 850 505 / [phone]
www.computershare.com.au

SHARE REGISTRY:  AIM
Computershare Investor Services PLC
The Pavilions
Bridgwater Road
BRISTOL BS99 6ZZ
Enquiries: [phone]
www.computershare.co.uk

AUSTRALIAN MEDIA RELATIONS
Cannings Purple
Warrick Hazeldine / Annette Ellis
Email:[e-mail] /
[e-mail]
Phone: [phone]

UK MEDIA RELATIONS
Tavistock Communications
Jos Simson / Emily Fenton
Phone: [phone]

KENYA MEDIA RELATIONS
Africapractice (East Africa)
Evelyn Njoroge / James Njuguna/Joan Kimani
Phone: [phone]
Email:[e-mail]

PRINCIPAL & REGISTERED OFFICE
Level 1, 50 Kings Park Road
West Perth, Western Australia, 6005
Email:  [e-mail]
Phone: [phone]
Fax: [phone]