Bushveld Minerals (“BMN”) has announced a fundraise of US$18.4m through a placing at GBp3/share with a small additional retail offer. The proceeds will be used to fund capex at Vametco and Vanchem to increase production, as well as strengthen the balance sheet to facilitate restructuring of the Orion funding package. This follows from a recent series of announcements, including a definitive agreement for the 50% sale of the Vanchem plant, the sale of its 64% interest in the Mokopane project, an ....
