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
|
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