Company Overview

Operation of the Kwale Mineral Sands Operation in Kenya and development of the Toliara Project in Madagascar.

Directors and Management

Mr Keith William Spence

Non-Executive Director,Non-Executive Chairman 20/02/2015

Mr Spence has over 40 years' experience in managing and governing oil and gas operations in Australia, Papua New Guinea, the Netherlands and Africa. A geologist and geophysicist by training, Mr Spence commenced his career as an exploration geologist with Woodside in 1977. He subsequently joined Shell (Development) Australia, where he worked for 18 years. In 1994 he was seconded to Woodside to lead the North West Shelf Exploration team. In 1998, he left Shell to join Woodside. He retired from Woodside in 2008 after a 14 year tenure in top executive positions in the company including Chief Operating Officer and Acting Chief Executive Officer. Upon his retirement Mr Spence took up several board positions, including at Clough Limited, where he served as Chair from 2010 to 2013, Geodynamics Limited where he served as a non-executive Director from 2008 to 2016 (including as Chair from 2010 to 2016) and Oil Search Limited, where he served as a non-executive Director from 2012 to 2017. He is Chair of the Environmental, Social & Ethics Committee; member of the Risk Committee. Other current listed company directorships held by him are IGO Limited (since 2014); Santos Limited (Chair, since 2018) Past listed company directorships held over the last three years by him are Murray and Roberts Holdings Ltd (resigned March 2020)

B.Sc (Geophysics) (Hons), FAIM Male

Mr Malcolm Hugh Macpherson

Non-Executive Director 25/07/2013

Mr Macpherson is an accomplished business leader, with decades of experience in the global mining industry at executive management and board level. Mr Macpherson spent 25 years from 1974 at Iluka Resources, the world's largest mineral sands company, rising from mine manager to Managing Director and Chief Executive Officer. He has previously held the position of Chair with Azumah Resources Limited and Western Power Corporation and been a director of Portman Mining Limited and Minara Resources Limited. Mr Macpherson has also been the Senior Vice President of the Minerals Council of Australia, President of the Western Australian Chamber of Minerals & Energy, and a member of the Senate at Murdoch University. He is Chair of the Risk Committee and member of the Environmental, Social & Ethics

BSc, Cert.Acctg, FAICD, FAusIMM, FTSE Male

Ms Diane Radley

Non-Executive Director 01/02/2018

Ms Radley has over 25 years' experience in senior leadership roles across multiple industries, most recently in financial services and investments. She served as CFO at Allied Electronics Corporation (JSE), Group Finance Director at Old Mutual South Africa, and CEO of Old Mutual Investment Group. Prior to this, she advised on a variety of transactions, listings and due diligences for large corporate acquirers and private equity funds in her role as Partner-in-charge of Transaction Services at PricewaterhouseCoopers in South Africa. She is member of the Risk Committee; member of the Environmental, Social & Ethics Committee Other current listed company directorships held by her are Murray & Roberts Holdings Ltd (since 2017); Transaction Capital Ltd (since 2018), Redefine Properties Ltd (since 2020); Network International Holdings Plc (since 2021).

BComm BCompt (Hons), CA(SA), MBA, AMP (Harvard) Female

Mr Michael (Mike) Henry Stirzaker

Non-Executive Director 28/11/2011

Mr Stirzaker has over 30 years' commercial experience, mainly in mining finance and mining investment. He began his career in Sydney as a Chartered Accountant with KPMG, before moving into investment banking with the HSBC Group and then Kleinwort Benson Limited in London. From 1993 to 2007 he was part of the natural resource advisory and investment firm, RFC Group Limited, where he became Joint Managing Director. He has also been a shareholder and Director of Tennant Metals Pty. Limited, a privately owned physical metal trader and investor, and was the Finance Director of Finders Resources Limited, an ASX listed company producing copper in Indonesia. From 2010 until 2019, Mr Stirzaker was a partner with private equity mining fund manager, Pacific Road Capital Management. The Pacific Road Resources Fund II is a major shareholder of Base Resources, with Mr Stirzaker appointed as its nominee on the Base Resources Board. He is member of the Environmental, Social & Ethics Committee. Other current listed company directorships held by him are Prodigy Gold NL (since 2018); Akora Resources Limited (Chair, since 2020)

CA, BCom Chartered Accountant Male

Mr Timothy (Tim) James Carstens

Managing Director 05/05/2008

Mr Carstens is an experienced mining executive, with a career spanning more than 20 years in senior resources-sector roles, both in Australia and overseas, with Perilya Limited, North Limited, Robe River Iron Associates, Iron Ore Company of Canada and St Barbara Mines Limited. A chartered accountant by profession, he has strong experience in all aspects of business strategy development and implementation, acquisitions and divestments, debt and equity financing, organisational development and operational performance. He has been Managing Director of Base Resources since the Company's inception in May 2008. Mr Carstens is a Non-Executive Director of the Australia-Africa Minerals and Energy Group (AAMEG), the peak body representing Australian companies engaged in the development of Africa's resource industry. He was Chair of AAMEG from 2016 to 2021. He is member of the Risk Committee; member of the Environmental, Social & Ethics Committee

BComm, ACA Chartered Accountant Male

Mr Colin Bwye

Executive Director - Operations & Development 12/07/2010

Mr Bwye has over 30 years' experience in the mineral sands sector, having commenced his professional career with RGC Mineral Sands (since consolidated into Iluka Resources) as a plant metallurgist in 1988. He undertook a number of technical, production and mining roles within RGC and then, after a period of time consulting to the industry, joined Doral Mineral Industries, a subsidiary of Iwatani Corporation of Japan. Here he was a leader in the development and operation of the Dardanup mineral sands mine in Western Australia before taking on the role of managing director and becoming accountable for the fused materials (zirconia and alumina) processing facilities as well as the mineral sands operation. In 2010 Mr Bwye joined Base Resources as Executive Director - Operations & Development. Mr Bwye has an extensive knowledge of all aspects of the mineral sands industry, including downstream processing and marketing of mineral sands products. He is member of the Risk Committee; member of the Environmental,vSocial & Ethics Committee

BEng(Hons) Male

Ms Janine Herzig

Non-Executive Director 12/10/2020

Ms Herzig has 30 years' experience in the resources sector, encompassing executive management, consulting, technical and production roles, across all commodities including industrial minerals. A metallurgical engineer by training, Ms Herzig spent 10 years with RGC and Iluka Resources in multiple locations, involved in dredging, dry mining operations, wet concentrators, dry mills, synthetic rutile and tailings management. After commissioning a number of projects and brownfields operations, she advanced to Principal Metallurgist for Iluka Resources' greenfields Murray Basin projects. Ms Herzig was General Manager of the Minerals and Industrial division at Bureau Veritas from 2005 to 2009, leading the company through a major expansion and M&A phase. She then established a consulting business, undertaking due diligence work, desktop reviews, independent audits and acting as an expert witness in the field of mineral sands processing and tailings management. Ms Herzig is a Fellow and Chartered Professional (Metallurgy) of the AusIMM. She has been on the Board of the AusIMM since 2013, serving as President and Chair in 2019 and 2020. She is the Chair of the International Advisory Forum and the Global Action on Tailings, and is also on the Board of the ARC Training Centre for Integrated Orebodies and the Coalition of Energy Efficient Comminution (CEEC International). She is member of the Risk Committee; member of the Environmental, Social & Ethics Committee

FAusIMM,CP (Metallurgy) Female

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