Bushveld Minerals is consolidating its control over Bushveld Vametco and the Vametco vanadium mine and process plant in South Africa. The acquisition of the remaining 55% of Bushveld Vametco which Bushveld did not own is value accretive on our modelling and raises Bushveld’s effective stake in Vametco to 59.1% from 26.6%. We are upgrading our target price to 14.3p from 11p based on Bushveld’s increased share of the cash flow from Vametco.
30 Nov 2017
Consolidation of Vametco
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Consolidation of Vametco
Bushveld Minerals Limited (BMN:LON) | 0.6 0 (-3.8%) | Mkt Cap: 14.4m
- Published:
30 Nov 2017 -
Author:
John Meyer | Sergey Raevskiy | Simon Beardsmore -
Pages:
8
Bushveld Minerals is consolidating its control over Bushveld Vametco and the Vametco vanadium mine and process plant in South Africa. The acquisition of the remaining 55% of Bushveld Vametco which Bushveld did not own is value accretive on our modelling and raises Bushveld’s effective stake in Vametco to 59.1% from 26.6%. We are upgrading our target price to 14.3p from 11p based on Bushveld’s increased share of the cash flow from Vametco.