Quarterly Activities Report – December 2010
Due diligence review completed on Kwale Project acquisition confirms an outstanding opportunity.
Government of Kenya approval for Base to acquire Kwale secured.
Unanimous shareholder approval received for acquisition and related capital raising.
$8.02 million capital raising fully committed with participation of two prominent
Base Resources Limited (ASX:BSE) (“Base”) has made further significant progress in the development of the Kwale
Project over the December quarter, completing the capital cost update on the original project Definitive Feasibility
Study (“DFS”) and the Process Design Review Study evaluating improvement project improvement opportunities,
as well as securing commitments for an $8.1 million share placement.