Why the drop21 Jul 2021 09:18
Bushveld Minerals Limited
(BMN.L)
Announced an operational update for the three months and six months ending 30 June 2021. It reports
a significant increase in quarterly production in Q2 2021, albeit from a low production base in 1Q 2021.
More than the production volume improvements, it is positive to see improved operational stability at
Vametco, as a result of not only the extended 35-day maintenance shutdown, but also of several
operational improvements, which include a greater discipline in our proactive maintenance practices,
process control from the technical team and people development strategy. While it is retaining its
monthly production target of 240 mtV, allowing for any planned maintenance to be executed as part of
the production stability plan. It remains on track to meet the annual Group production guidance of
between 3,400 mtV and 3,600 mtV. In addition, it intends to complete the now expanded prefeasibility
studies (PFS) at Vametco together with the technical studies currently under way at Vanchem in 4Q
2021. These studies will determine the optimal path to increase production from Vametco and
Vanchem in the most capital efficient manner