Bass Metals

Primary ticker: ASX:BSM
Stage of development: Production, Development
Primary minerals: Graphite, Lithium
Project to promotes: Graphmada

Live financials

Bass Metals Ltd is an established producer of Graphite concentrates with production at the companies 100% owned debt free Graphamda large flake Graphite mine. Bass has successfully commissioned Graphmada delivering the companies initial milestone in its strategy to become a material producer of industrial mineral concentrates. Bass now turns its attention to capitalizing on the robust financial and operational platform set by Stage 1with Bass now beginning work on Stage 2 a material expansion of output at greatly reduced capital intensity.

Management Profile

Tim McManus – CEO

Tim has over 20 years in the experience in the Mining industry. A qualified Geologist and holder of an MBA, Tim has held a series of roles in the industry including Chief Geologist for XStrata, CEO Elementos.

Peter Wright – Executive Director

Peter has spent over 20 years in investment markets with a focus on Resource Investment. Peter is also an Executive Director of Brisbane based Advisory and Funds Management Firm Bizzell Capital Partners and a director of Laneway Resources Ltd. Prior to joining Bass Peter had a long tenure as Corporate advisor to Altura Mining Ltd.

What is your rationale for attending 121 Mining Investment?

Bass has reached it current juncture with minimal institutional investment , Bass at present has no strategic investors on its register. Bass is hoping to meet institutional and strategic investors at the 121 conference .Bass is fully funded with a prudential level of cash in bank and is now receipting sales.

Bass is at an exciting stage of its development having commissioned Stage 1 and establishing sales. Bass with a sound operational and financial platform now seeks to execute the next stage it’s strategy to realize full value for the companies assets and capitalize on its established infrastructure. Bass intends to expand production capacity over 2019 to 20,000tpa.

What recent news would you like to highlight to investors attending?

Bass has commissioned its mine in Eastern Madagascar free of debt and 100% ownership. This will establish profitable cash flow for Bass Metals. For a company of circa $35m mkt cap with no debt and 100% ownership we trade at a deep discount to our peers whom all have highly dilutive equity issuance ahead of them. Bass has offtake agreements in place and broadening sales channels for current production.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Achieve profitable production at Graphmada

6 Months:

Updating markets on further offtake arrangements for Stage 2 volume , progress updates for stage 2 construction.

12 Months:

Approaching delivery of Stage 2 production

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Construction/Commissioning Risk, Bass intends to build its Stage 2 capacity over 2019 , having gained significant experience through executing Stage 1 we are aware that projects are not linear progressions.

Funding/ Market Risk . Bass requires circa US$8m to complete Stage 2 whilst the company currently retains cash and receivables in excess of A$5m and are now receipting sales, equity funding would potentially form a part of funding outcome for Stage 2. Recent market weakness and its capacities to deliver affordable funding are a risk.

Sovereign Risk. Bass operates in Madagascar. Bass puts material resources into both Government relations and into the local community.

In a sentence, what do you think makes your company such a compelling investment?

Bass Metals Ltd , offers investors an exposure to a well run rapidly evolving producer of Industrial Mineral concentrates, Bass with the establishment of Stage 1 production at Graphmada has a sound financial platform to build Stage 2 and explore its exploration assets, Bass trades at material discount to its peers but operationally is years ahead. Bass has spent circa A$20m to establish the operational platform now in place of 6000tpa. To move to Stage 2 requires considerably less , Bass is in a great position to deliver substantial upside to investors over the coming 24 months.