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.
Chief Executive Officer Craig Coltman says: "The receipt of this cash enables the company to reduce creditor balances whilst we continue to implement the necessary initiatives to improve operational performance at Vanchem and Vametco."
Current stock price: 1.50 pence per share, up 3.5% in London on Thursday
12-month change: down 67%
By Hugh Cameron, Alliance News reporter
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Bushveld Minerals (BMN)