LONDON (Alliance News) - Bushveld Minerals Ltd Friday said Lemur Resources, in which it holds a 63% stake, is holding talks about potentially acquiring vanadium assets in South Africa.
Lemur Resources, which is listed on the Australian Securities Exchange, said Friday it was in talks about acquiring a South African company which holds three greenfield properties in the north west of the country.
The company it is set to purchase has not been named but Lemur said it has entered into a loan agreement, whereby it has loaned the company around AUD213,000 for immediate working capital. That loan will be offset by the purchase price should the deal go ahead, said Lemur.
Bushveld shares were up 1.8% to 4.15 pence per share on Friday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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Bushveld Minerals (BMN)