Base Resources Ltd 10.6% potential upside indicated by Berenberg Bank

Base Resources Ltd with ticker (LON:BSE) now has a potential upside of 10.6% according to Berenberg Bank.

BSE.L

Berenberg Bank set a target price of 13 GBX for the company, which when compared to the Base Resources Ltd share price of 12 GBX at opening today (06/09/2024) indicates a potential upside of 10.6%. Trading has ranged between 5 (52 week low) and 15 (52 week high) with an average of 131,398 shares exchanging hands daily. The market capitalisation at the time of writing is £253,528,658.

Base Resources Limited is an Australia-based mineral sands producer and developer. The Company operates the Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. It is also conducting an exploration program in Tanzania. Its segments include Kwale Operation, Toliara Project, and Other. The Kwale Operation segment includes its 100% owned Kwale Operation located in Kenya and engaged in the sale of rutile, ilmenite and zircon. Kwale Operations is located 50 kilometers south of Mombasa, the principal port facility for East Africa. The Kwale Operation features a high-grade ore body with a mineral assemblage, rich in rutile. Its products from Kwale Operation are transported to the Company’s own Likoni Port facility, located inside Mombasa Port, for export to customers. The Toliara Project is in south-west Madagascar, about 45 kilometers (km) north of the regional town and port of Toliara. The Toliara Project includes a high grade, ilmenite rich, Ranobe deposit.