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On 02 September 2024, Bushveld Minerals Limited announced it had received US$10 million in matched funding from OMF Fund III (F) Limited ("Orion"). The company has since commenced cost cutting initiatives and development works, further to previous announcements on 28 June 2024 and 14 August 2024.
| Date | 2 Sept 2024 |
| Time | 16:22:22 |
| Category | Miscellaneous |
| ID | 5866C |
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement
Bushveld Minerals Limited
("Bushveld Minerals", "Bushveld", "Company", or the "Group")
Orion Matched Funding Received
Further to the Company's announcement on 28 June 2024 and on 14 August 2024, Bushveld Minerals Limited (AIM: BMN), the primary vanadium producer, is pleased to announce that it has received the US$10 million in matched funding from OMF Fund III (F) Limited ("Orion") and has begun work on cost cutting initiatives and development works to return the Company to profitability and secure its long-term future.
Further detail on these initiatives will be announced in due course.
Craig Coltman CEO of Bushveld Minerals commented:
"We are pleased to receive these funds from Orion to enable us to reduce long outstanding creditors balances and allow us to advance our turnaround strategy at Vametco."
Enquiries: [email protected]
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Bushveld Minerals Limited |
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+27 (0) 11 268 6555 |
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Craig Coltman, Chief Executive Officer |
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SP Angel Corporate Finance LLP |
Nominated Adviser & Joint Broker |
+44 (0) 20 3470 0470 |
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Richard Morrison / Charlie Bouverat |
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Grant Barker / Abigail Wayne |
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Hannam & Partners |
Joint Broker |
+44 (0) 20 7907 8500 |
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Andrew Chubb / Matt Hasson / Jay Ashfield |
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Tavistock |
Financial PR |
+44 (0) 207 920 3150 |
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Gareth Tredway / Tara Vivian-Neal / James Whitaker |
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ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a vertically integrated primary vanadium producer, it is one of only three operating primary vanadium producers. In 2022, the Company produced more than 3,800 mtV, representing approximately three per cent of the global vanadium market. With a diversified vanadium product portfolio serving the needs of the steel, energy and chemical sectors.
Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com