- African mineral sands producer Base Resources downgraded the reserves estimate at its Kwale South Dune prospect by more than a fifth to reflect a reduction in bulk material density.

The Kwale South Dune mineral resource estimate was now at 88m tonnes, at an average heavy mineral grade of 3.1% for 2.7m tonnes of contained heavy mineral, at a 1% cut-off grade.

That represented a 22% reduction from the previously reported 2017 estimate.

The estimate had been updated to reflect a 5% reduction in material bulk density following routine reconciliations.

The measurements were undertaken between the resource model estimates and run-of-mine operating data gained since mining commenced on the South Dune in July 2019.

Mineral resources had also been updated to reflect a reduction in the size of the prospecting licence and depletion due to mining.

At 2:11pm: [LON:BSE] Base Resources Limited share price was +0.25p at 10.25p

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