REG - Bushveld Minerals Ld - Operational Update

Bushveld MineralsAnnouncement

25/10/2024 14:30

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RNS Number : 7332J  Bushveld Minerals Limited  25 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.

 

25 October 2024

Bushveld Minerals Limited

("Bushveld" or the "Company")

Operational Update

 

Bushveld Minerals (AIM: BMN), the AIM quoted, integrated primary vanadium
producer, highlighted in its Interim Results announced on 17 September 2024,
that the Company remained focused on managing its working capital.

Due to liquidity issues, the Company now finds itself in a position whereby it
is unable to continue operating at current production levels. Consequently, a
controlled slowdown of production has commenced at Vametco, the length of
which will be determined by the timing of receipt of sufficient further funds.

The Company is scheduled to receive further funding on completion of the
Vanchem sale, which is imminent.

As a result of the controlled slowdown of production at Vametco the Company is
withdrawing 2024 production guidance as detailed in the Company's announcement
of 31 July 2024.

The Company is planning to announce its Q3 2024 Operational Update in the
first week of November, which will address the impact on 2024 production
guidance.

 

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 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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