Notice of Substantial Shareholder

AIM and Media Release 

2 November 2018

BASE RESOURCES LIMITED
Notice of Substantial Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received the following notification.  

Regal Funds Management Pty Ltd has notified the company that it and its related bodies corporate (Regal Funds Management) have increased their relevant interest in Base Resources ordinary shares by a net 67,931,992 ordinary shares.  Following these transactions, Regal Funds Management has a relevant interest in 153,066,830 Base Resources ordinary shares, representing 13.12% of total Base Resources ordinary shares on issue, constituting a substantial shareholding for the purposes of the AIM Rules for companies.

Regal Fund Management’s interest in Base Resources ordinary shares relates to the following interests:

Holder of relevant interest	Nature of relevant interest	Class and number of securities
UBS AG. Australia Branch	Holder of shares	110,247,439 ordinary shares
Morgan Stanley & Co Intl PLC	Holder of shares	6,001,100 ordinary shares
Merrill Lynch International Limited	Holder of shares	22,992,704 ordinary shares
Credit Suisse Securities Europe Ltd	Holder of shares	13,825,587 ordinary shares

Consideration given to acquire the relevant interest above in the period between 2 January 2018 and 31 October 2018 was a weighted average of A$0.256 per share for 95,407,701 shares.  Consideration received for sales in the period between 10 October 2017 and 29 October 2018 was a weighted average of A$0.265 per share for 27,475,709 shares

A PDF version of the notice referred to in this release is available from the company’s website:  www.baseresources.com.au.

ENDS.

For further information contact:

James Fuller, Manager - Communications and Investor Relations	UK Media Relations
Base Resources	Tavistock Communications
Tel: [phone]	Jos Simson and Barnaby Hayward
Mobile: [phone]	Tel: [phone]
Email: [e-mail]

About Base Resources

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance.  The Company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar.  Base Resources is an ASX and AIM listed company.  Further details about Base Resources are available at www.baseresources.com.au

PRINCIPAL & REGISTERED OFFICE
Level 1, 50 Kings Park Road
West Perth, Western Australia, 6005
Email: [e-mail]
Phone: [phone]
Fax: [phone]

NOMINATED ADVISOR
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Phone: [phone]