Base Resources reports exercise of options

AIM-listed Base Resources has issued 1.4m fully paid ordinary shares as a result of the exercise of options to acquire fully paid ordinary shares in the capital of the company at an exercise price of A0.09 dollars.

AIM-listed Base Resources has issued 1.4m fully paid ordinary shares as a result of the exercise of options to acquire fully paid ordinary shares in the capital of the company at an exercise price of A0.09 dollars.

The options were exercised by Colin Bwye, a Director of the company. Following the option exercise and share issue, Bwye holds an interest in 2.2m fully paid ordinary shares, 3.6m unlisted options and 5.0m unlisted options.

The company now has 56.8m fully paid ordinary shares, 8.5m unlisted options exercisable at A$0.25 on or before July 9th 2015, 7.1m unlisted options exerciable at A$0.09 on or before July 9th 2015 and 1.0m unlisted options exercisable at A$0.25 on or before July 30th 2015.

The company said that it had has applied for the new shares to be admitted to trading on both the ASX and AIM markets. Trading in the new shares on AIM is expected to commence on or around April 5th 2013.

Base Resources is developing the Kwale Mineral Sands Project in Kenya, East Africa. The Kwale Project was acquired by Base in July 2010 from Vaaldiam Mining, which had spent more than $US60m to progress the project through resource definition, government approvals and Definitive Feasibility Studies.

Base Resources share price was at 28.50p at 11:10 on Tuesday

MF

Recommended

Share tips of the week – 9 December
Share tips

Share tips of the week – 9 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
9 Dec 2022
The top funds to invest in now
Funds

The top funds to invest in now

As market volatility continues, here are the top funds, stocks and investment trusts investors are putting their money into, according to one investme…
2 Dec 2022
7 sin stocks to buy yielding up to 8%!
Share tips

7 sin stocks to buy yielding up to 8%!

Sin stocks don’t have the best reputation, but when it comes to investment returns, they’re certainly worth a closer look.
2 Dec 2022
Share tips of the week – 2 December
Share tips

Share tips of the week – 2 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
2 Dec 2022

Most Popular

Is it cheaper to leave the heating on low all day?
Personal finance

Is it cheaper to leave the heating on low all day?

The weather is getting colder and energy bills are rising, but is it really cheaper to leave the heating on low all day or should you only turn it on …
1 Dec 2022
Gold or bitcoin: what will replace the US dollar?
Bitcoin & crypto

Gold or bitcoin: what will replace the US dollar?

As Russia and the West move further apart, there’s a growing need for a new global reserve currency. The US dollar could soon be replaced by gold or b…
6 Dec 2022
Radiator vs electric heater – which is cheaper?
Personal finance

Radiator vs electric heater – which is cheaper?

We compare the costs, pros and cons of radiators and electric heaters and see which one will help keep your energy bill as low as possible.
28 Nov 2022