SA reserve7 Sep 2023 09:10
I wrote to Chika on 30/08:
I hope this email finds you well.
With the market value of the company now lower than the value of its assets investors are naturally worried that things are currently much worse at Bushveld that the company is letting us know.
I have a few questions which I would appreciate some clarification.
Craig mentioned during his first interview on the 4th of August that " the closing of the Orion transaction is subject to certain conditions, including South Africa Reserve Bank approval".
Why would the SA Reserve Bank need to approve a loan between two private parties?
When do we expect that this will be accomplished?
Has BMN put ion place contingency measures to keep the company afloat if the debt restructuring fails?
Looking forward to hearing back from you.
Regards,
Her reply today:
Thank you for being a shareholder.
I hope all is well and thank you for your email.
Unfortunately, due to the sensitive nature of your questions, I will only be able to answer the first question.
Due to the cash flows of Vametco and Vanchem, both of which are SA assets, SA reserve bank permission is required.
We will be releasing out H1 2023 interim results this month which should provide a more comprehensive update.
Kind regards,