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Pin to quick picksBushveld Minerals Share News (BMN)

Share Price Information for Bushveld Minerals (BMN)

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TRADING UPDATES: Anglo-Eastern output down year-to-date, Bushveld's up

Mon, 06th Nov 2023 14:26

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Trident Royalties PLC - mining royalty company - Reports quarterly receipts for the three months to September 30 fell 17% to USD1.9 million from USD2.3 million a year prior from exposure to gold, copper, and iron ore. Chief Executive Officer Adam Davidson says: "This has been another solid quarter for Trident, with two new transactions, good progress within our existing portfolio, and solid revenue generation. In the uncertain geopolitical environment, our diversified exposure has demonstrated its value, with our gold offtake revenue benefiting from higher gold prices and volatility. Our gold exposure will benefit further during the first half of 2024, with first gold expected at Equinox's Greenstone project, alongside ramping of production at other assets."

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Anglo-Eastern Plantations PLC - Indonesia and Malaysia-focused palm oil and rubber producer - Says in nine months to September 30, output for fresh fruit bunches fell 2% to 841,960 metric tonnes from 859,900. Says crude palm oil price ex-Rotterdam averages to USD983 per metric tonne in the year-to-date, up 33% from USD1,471 in the corresponding period in 2022. Looking ahead, expects CPO prices to be weak for the remaining part of the year as the industry enters a period of "more robust" crop production. "The reported high palm oil inventory, together with the abundance of other competitive vegetable oils, coupled with a lower demand from the major importers are likely to suppress any upward movement in CPO prices for the last quarter of 2023," it says.

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Bushveld Minerals Ltd - South Africa-focused vanadium producer and energy storage solutions provider - Says production in the third quarter of the year falls 1.6% to 1,000 metric tonnes vanadium from 1,016 a year prior. Year-to-date production grows 4.8% to 2,784 metric tonnes from 2,657. Sales in the three months to September 30 plunge to 647 metric tonnes from 1,034 in the corresponding quarter a year ago. Looking ahead, says it is on track to meet its output guidance for 2023 of 3,700 to 3,900 metric tonnes.

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Powerhouse Energy Group PLC - Bingley, England-based non-recyclable waste-to-energy conversion firm - Faces patent claim filed by GetGo Recycling Ltd, which was filed last month. Says claim is "entirely without merit", and states it had not had any direct dealings or any communication from GetGo, noting that it first became aware the claim had been filed via a third party. It also says there is no detail or information in the filing of the claim. Chair Antony Gardner-Hillman says: "As regards the European Patent Office Communication, I am advised by our patent attorneys there is no significance in this and that it is a normal procedural step when entitlement proceedings have been commenced in respect of a patent. As regards the proceedings themselves, we do not foresee any impact on PHE's ongoing work or interference with the company's business. We will deal with this as an ordinary day-to-day challenge of a kind I have seen and dealt with successfully before in my career, acting in the appropriate way and with due regard. I do not know the claimant company and I believe its action is intended to "soften" PHE as the targeted party before a follow-on approach on something unrelated. We shall wait and see whether this is the case and we shall respond accordingly."

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Tertiary Minerals PLC - mineral exploration and development company focused on energy transition metals, with projects in the US and Zambia - Completes exploration work on all of its copper projects in Zambia in the past 12 months, and says its objective to complete soil sampling on all its Zambian projects has been met, defining a series of high-grade copper-in-soil anomalies. Priority drill targets are now defined at three copper projects: Jacks, Mukai and Mushima North.

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Critical Metals PLC - Africa-focused mining investor - Says shares restored to trading on the London Stock Exchange, effective immediately. Its shares had been suspended from trading last week.

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By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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EARNINGS AND TRADING: Graft Polymer extends loan; ASA profit down 30%

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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23 Apr 2024 15:09

Bushveld updates Vametco mineral resources

(Sharecast News) - Bushveld Minerals updated the market on mineral resources and reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex on Tuesday.

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14 Mar 2024 15:30

IN BRIEF: Bushveld receives USD3.0 million loan from Southern Point

Bushveld Minerals Ltd - vanadium producer operating the Vanchem and Vametco processing facilities in South Africa - Receives a further ZAR56.3 million, around USD3.0 million, from Southern Point Resources Ltd as an interest-free loan. This brings the total paid to Bushveld by the South Africa-focused investment fund to USD12.5 million.

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29 Feb 2024 18:52

EARNINGS AND TRADING: Frontier IP sells last of Exscientia holding

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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16 Feb 2024 10:57

IN BRIEF: Bushveld up after receiving delayed Southern Point payment

Bushveld Minerals Ltd - Vanadium producer operating in South Africa - Receives an additional ZAR76 million, around GBP3.2 million, from Southern Point Resources Ltd, a London-based investment fund. The payment is part of a subscription agreed between the pair in December for GBP9.9 million, which Southern Point was due to transfer to Bushveld's UK bank account. Payments received to date have been sent to a Bushveld subsidiary's bank account, which the company says would result in further funding delays if these were used to satisfy Southern Points obligations under the subscription agreement. Bushveld adds that it lost 11 and 3 days of production in January at its Vanchem and Vametco projects, respectively, as a result of the delayed settlement.

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5 Feb 2024 10:10

Bushveld Minerals suspends guidance, production dips but sales rise

(Alliance News) - Bushveld Minerals Ltd on Monday reported a surge in annual sales despite production falling, but said it has suspended full-year guidance until it receives funds from Southern Point Resources Ltd.

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1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

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1 Feb 2024 11:44

IN BRIEF: Bushveld shares soar as refinances loan with OMF Fund

Bushveld Minerals Ltd - integrated primary vanadium producer - Completes the refinancing of its unsecured convertible loan notes issued to OMF Fund III (F) Ltd, which was dated September 29, 2020. It says it has refinanced its convertible debt obligations of USD47.1 million. Back in November, the firm entered an agreement to refinance its existing convertible loan notes with Orion Mine Finance. It extended the maturity date for existing convertible loan notes to January 31, 2024 (from December 21, 2023) and refinanced the convertible debt obligations of around USD46.9 million. This included a new convertible loan note of around USD14.1 million and a term loan of around USD28.1 million. Chief Executive Craig Coltman says: "I am pleased to announce all conditions set out on the definitive agreement with Orion were met and the refinancing transaction is now completed. We thank Orion for their ongoing support towards the company."

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1 Feb 2024 10:31

AIM WINNERS & LOSERS: Bushveld jumps as refinances loan with OMF Fund

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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29 Jan 2024 17:40

IN BRIEF: Bushveld Minerals finance director resigns after probe

Bushveld Minerals Ltd - integrated primary vanadium producer - Finance Director Tanya Chikanza resigns after investigation into Chikanza's alleged failure to disclose a material conflict of interest. Says it has been established that Chikanza made an oral disclosure to the previous CEO, which she accepts breached the company's conflict of interest policy. She will leave the company on Wednesday.

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19 Jan 2024 20:55

IN BRIEF: Bushveld still awaiting full Southern Point settlement

Bushveld Minerals Ltd - integrated primary vanadium producer - Receives payment of ZAR40 million, or approximately USD2 million, from Southern Point Resources of USD12.5 million due as part of Bushveld's USD18.4 million equity capital raising. Southern Point remains in default of the agreement until Bushveld receives the entire USD12.5 million. Says Southern Point previously claimed late transfer was caused by processing delays, but more recently said delay was due to an institutional funding partner defaulting on its agreement to provide funds. Southern Point says it will provide the funds no later than February 28.

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15 Jan 2024 12:03

IN BRIEF: Bushveld Minerals warns of suspension if receives no funds

Bushveld Minerals Ltd - integrated primary vanadium producer - Says it has not yet received USD12.5 million in funds from Southern Point Resources under its USD18.4 million equity capital raising. Company says it has had to constrain production, suspend some operational activities and defer creditor payments. Further, it warns that it may have to consider suspending operations if further payment delays occur.

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10 Jan 2024 17:40

Bushveld Minerals shares fall as yet to receive SPR funds

(Alliance News) - Bushveld Minerals Ltd on Wednesday said it has issued a letter of demand following the late payment of funds under the Southern Point Resources under its subscription in the recent equity issue.

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3 Jan 2024 21:30

IN BRIEF: Bushveld Minerals yet to receive subscription payment

Bushveld Minerals Ltd - integrated primary vanadium producer - Says it has yet to receive payment from Southern Point Resources under its subscription in the recent equity issue. Notes that while it is "confident" that the USD12.5 million in funds will be received in the coming week, and has been assured as such by Southern Point, it is "obliged to inform the market of the current state of affairs". Adds that shares due to SPR have been issued as a share certificate and remain in the company's possession. The money due is classified as a short-term receivable on the balance sheet until it has been received.

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19 Dec 2023 13:35

Busheld Minerals granted SARB approval for 100% ownership of Vametco

(Alliance News) - Bushveld Minerals Ltd on Tuesday said it had received approval for the acquisition of minority interests in the Vametco vanadium mine and production facility.

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