REG - Bushveld Minerals Ld - Disposal of Interests in Lemur Holdings Limited

Bushveld MineralsAnnouncement

18/10/2024 09:30

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RNS Number : 7721I  Bushveld Minerals Limited  18 October 2024

Market Abuse Regulation ("MAR") Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

18 October 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Disposal of Interests in Lemur Holdings Limited ("Lemur")

 

Bushveld Minerals (AIM: BMN), the AIM quoted, integrated primary vanadium
producer, further to the interim results announcement of 17 September 2024
which confirmed that the Company had received approval from the Development
Bank of South Africa ("DBSA") for the disposal of Lemur (the "Disposal"), is
pleased to announce that all other conditions to the Disposal have been met.
As a result of the completion of the Disposal, Bushveld is no longer liable
 for the outstanding c.US$2.5 million debt owed to DBSA. The total
consideration paid to the Company for Lemur was US$100.

 

Craig Coltman, CEO of Bushveld Minerals Limited, commented:

"The completion of the disposal of Lemur demonstrates steady progress in
Bushveld's strategic intent to rationalise assets with the view of focusing on
Vametco as the Company's core producing vanadium asset."

 

Enquiries :  info@Bushveldminerals.com (mailto:info@Bushveldminerals.com)

 Bushveld Minerals Limited                                                                     +27 (0) 11 268 6555
 Craig Coltman, Chief Executive Officer

 SP Angel Corporate Finance LLP                          Nominated Adviser & Joint Broker      +44 (0) 20 3470 0470
 Richard Morrison / Charlie Bouverat
 Grant Barker / Abigail Wayne

 Hannam & Partners                                       Joint Broker                          +44 (0) 20 7907 8500
 Andrew Chubb / Matt Hasson / Jay Ashfield

 Tavistock                                               Financial PR                          +44 (0) 207 920 3150
 Gareth Tredway / Tara Vivian-Neal / James Whitaker

 

ENDS

ABOUT LEMUR

Lemur Holding Limited, a Mauritius-incorporated company, is developing an
integrated thermal coal mining and independent power project (the Imaloto
Project) in Madagascar.

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a primary vanadium producer. It is one of the world's
three primary vanadium producers, offering compelling exposure to vanadium
through its upstream asset.

 

Detailed information on the Company and progress to date can be accessed on
the website www.bushveldminerals.com (https://www.bushveldminerals.com/)

 

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