Base Resources Limited has told investors it achieved production guidance for its 2023 financial year, whilst setting new expectations for the 2024 financial year.
The company said that production in 2023 amounted to 68,784 tonnes of rutile, within guidance of 62,000 to 73,000 tonnes, whilst ilmenite product totalled 297,861 tonnes (versus 260,00 to 310,000 guidance) and zircon came in at 25,954 tonnes (versus 22,000 to 27,000 guidance).
For 2024 the company is forecasting 35,000 to 41,000 tonnes of rutile, 130,000 to 160,000 tonnes of ilmenite, and 13,000 to 16,000 tonnes of zircon.
Base described market conditions in North America and Europe as “relatively stable” though noted that the Chinese market had become challenging as its economic recovery stalled, nevertheless, it said “firm demand” had continued through the June quarter for its product.
