Base Resources Limited announced earnings and production results for the quarter ended December 2016. For the quarter, the company's ilmenite sales were 97,047 tons against 103,035 tons for the same period last year. Rutile sales were 19,773 tons against 23,896 for the same period last year. Zircon sales were 9,432 tons against 7,723 tons for the same period last year. Zircon low grade sales were 3,397 tons. Unit revenue per ton of product sold was USD 250 against USD 245 for the same period last year. For the quarter, the company's net debt was reduced by USD 18.1 million to USD 129.5 million.

For the quarter, the company's total ore mined produced were 3,049,333 tons against 2,101,295 tons for the same period last year. The company produced ilmenite of 116,982 tons against 109,649 tons for the same period last year. Rutile was 22,870 tons against 21,768 tons for the same period last year. Zircon was 8,591 tons against 7,507 tons for the same period last year. Zircon low grade were 2,550 tons.

The company revised production guidance for the fiscal year 2017. For the year, the company expects production of rutile to be in the range of 88,000 tons to 93,000 tons, compared with previous guidance of 88,000 tons to 95,000 tons. Ilmenite production expected to be in the range of 450,000 tons to 480,000 tons, compared with no change from the previous guidance. Zircon expected to be in the range of 33,000 tons to 37,000 tons, compared with previous guidance of 35,000 tons to 40,000 tons. Zircon contained in zircon low grade expected to be in the range of 8,000 tons to 10,000 tons, compared with no change from the previous guidance.