Toliara Sands Project

On 19 December 2017 World Titane announced it had reached agreement with Base Resources, whereby Base Resources would acquire an initial 85% interest in the wholly owned subsidiaries of World Titane, which between them hold a 100% interest in the Toliara Sands Project. Base Resources acquired the initial 85% interest for a consideration of US$75 million and will acquire the remaining 15% interest, with a further US$17 million payable upon achievement of key milestones as the project advances to mine development. The transaction closed on 22 January 2018.