Base Resources Ltd 70.5% potential upside indicated by Canaccord Genuity

Broker Ratings

Base Resources Ltd with ticker (LON:BSE) now has a potential upside of 70.5% according to Canaccord Genuity.

Canaccord Genuity set a target price of 50 GBX for the company, which when compared to the Base Resources Ltd share price of 15 GBX at opening today (07/03/2023) indicates a potential upside of 70.5%. Trading has ranged between 11 (52 week low) and 21 (52 week high) with an average of 295,426 shares exchanging hands daily. The market capitalisation at the time of writing is £282,722,633.

Base Resources Limited is an Australia-based company engaged in production and development of mineral sands. The Company’s assets include the Kwale Mineral Sands Operation in Kenya and the development of the Toliara Project in Madagascar. The Company’s Kwale Operations is located approximately 50 kilometers south of Mombasa and 10 kilometers inland from the Kenyan coast. The Kwale Operation in Kenya, which produces a range of mineral sands products, namely ilmenite, rutile and zircon. The Kwale Operation features a high-grade ore body with a high-value mineral assemblage, rich in rutile. The Company’s fully owned Toliara Project is based on the Ranobe deposit, located approximately 45 kilometers north of the town of Toliara, and approximately 15 kilometers inland from the coast in southwest Madagascar.

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