Base Resources (AU:BSE) has released an update.
Base Resources Limited has announced that Mitsubishi UFJ Financial Group, Inc. (MUFG) now holds a 7.39% stake in the company, comprising 87,021,878 ordinary shares, making MUFG a significant shareholder. Since January 24, MUFG has purchased approximately 44 million shares at an average price of AUD 0.269 each, without selling any. Base Resources is a mineral sands producer operating in Kenya and developing a project in Madagascar, and is listed on both the ASX and AIM.
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