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Pin to quick picksBushveld Minerals Share News (BMN)

Share Price Information for Bushveld Minerals (BMN)

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Share Price: 0.70
Bid: 0.65
Ask: 0.75
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IN BRIEF: Bushveld Minerals invests USD7.5 million into Enerox

Thu, 01st Apr 2021 11:36

Bushveld Minerals Ltd - South Africa focused-vanadium producer - Invests USD30 million into vanadium redox flow battery manufacturer Enerox GmbH with a consortium of investors in Enerox Holdings Ltd. Notes its subsidiary Bushveld Energy Ltd has a 25% indirect interest in Enerox through VRFB Holdings Ltd, which owns a 50% interest in Enerox Holdings. Says Bushveld Energy will contribute USD5 million, which was paid on Wednesday and USD2.5 million during April.

"Our investment in Enerox follows the same script of mobilising third-party financing to scale up manufacturing capacity and sales, while establishing a platform for collaboration in developing projects into which we will supply vanadium. The funding commitments of Enerox's shareholders are a strong vote of confidence in the potential and strategy of the company. We believe that this additional capital will place Enerox on the path to becoming a major player in the industry," says Bushveld Chief Executive Fortune Mojapelo.

Current stock price: 17.50 pence, up 12% on Thursday

Year-to-date change: down 12%

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Bushveld quarterly sales double and production rises

Bushveld Minerals Ltd - South Africa-focused iron ore and tin exploration and development company - Says for the three months ending June 30, production rose by 26% to 840 million tonnes from 668 million tonnes a year prior. Weighted average production costs for the second quarter of the year were down by 12% to USD27.4 per unit of volume from USD31.2 the year before. Adds sales in the period were 1.68 billion tonnes, more than doubled from 787 million tonnes in the second quarter of 2022.

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Bushveld Minerals notes Garnet to take 60% stake in Enerox from VRFB-H

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IN BRIEF: Bushveld and Primorus revise terms of loan note agreement

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