Bushveld Minerals (“BMN”), a primary vanadium producer with operations in South Africa (“SA”), is to sell 100% of its interest in the Vanchem plant to Southern Point Resources (“SPR”), following shareholder approval which was secured on 31st May with 94.8% voting in favour. Approval is still required by the SA Competition Tribunal, which is guided for Q3, and consent to the transaction from Orion Mine Finance, a major lender to BMN. As part of the consideration for this sale, SPR agreed to incre ....

10 Jun 2024
Bushveld Minerals: Full sale of Vanchem to SPR to alleviate near-term working capital tightness

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Bushveld Minerals: Full sale of Vanchem to SPR to alleviate near-term working capital tightness
Bushveld Minerals Limited (BSHVF:OTC) | 0 0 0.0%
- Published:
10 Jun 2024 -
Author:
Jonathan Guy -
Pages:
2 -
Bushveld Minerals (“BMN”), a primary vanadium producer with operations in South Africa (“SA”), is to sell 100% of its interest in the Vanchem plant to Southern Point Resources (“SPR”), following shareholder approval which was secured on 31st May with 94.8% voting in favour. Approval is still required by the SA Competition Tribunal, which is guided for Q3, and consent to the transaction from Orion Mine Finance, a major lender to BMN. As part of the consideration for this sale, SPR agreed to incre ....