Base Resources Limited - FY23 results - Kwale continues to deliver strong financial performance PR Newswire LONDON, United Kingdom, August 28 AIM
AIM and Media ReleaseFY23 results - Kwale continues to deliver strong financial performance
The Toliara Project in Madagascar remains a significant growth opportunity for the Company. Despite making sound progress in discussions with the Government of Madagascar on the fiscal terms applicable to the project and the lifting of the on-ground suspension, recent engagement has slowed whilst the Government focuses on finalising its overhaul of the Malagasy Mining Code and preparations for the upcoming presidential election.
The dividend will be paid wholly from conduit foreign income and have record and payment dates of 11 September 2023 and 28 September 2023, respectively - for further information, refer to Base Resources' accompanying announcement"FY23 Final Dividend - Key dates and information"."The 2023 financial year has been another operationally and financially successful one.
While engagement with the Government on the fiscal terms applicable to the Toliara Project has slowed due to the Government's focus on its new mining code and the presidential elections in late 2023, we are clear that our patient approach is the right one to secure outcomes that will support the realisation of optimum shareholder value and we remain fully committed to the project's development.
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