Member Info for Lindon

1 November 2019

Bushveld Minerals Limited

("Bushveld Minerals" or the "Company")

Support for redT - Avalon Merger and Potential Strategic Interest in Resulting Entity

Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer, with ownership of high grade vanadium assets in South Africa ("Bushveld"), is pleased to announce that it has agreed to support the merger of Avalon Battery Corporation ("Avalon") and redT energy plc ("'redT") (the "Merger") with interim funding of US$5 million which will give Bushveld the opportunity to acquire a strategic interest in the merged energy storage company.

In July 2019, AIM-quoted energy storage provider redT and Avalon, a North American-based vanadium redox flow battery ("VRFB") manufacturer, announced their plans to merge. The resulting business will be a leading player in the growing energy storage market. Traded on AIM in London, the merged entity will have a global sales footprint, a robust near-term project pipeline, operations in North America, Europe and Asia, market-leading technology, and a strong management team.

Sounds like LgiProc might get first in the que then.

IDC BE JV appointed LogiProc (Pty) Ltd (LogiProc) to conduct the basic engineering for the vanadium- based electrolyte plant. From the onset, LogiProc expressed an interest to be considered as an EPC bidder for the plant, and IDC BE JV agreement to honour this request.
All bidders are hereby informed that LogiProc will be given an opportunity to submit a bid for this tender on the same conditions as all other bidders. It however needs to be acknowledged that LogiProc, through the basic engineering process, gained some technical insights but on commercial terms will be treated equal with all other bidders. LogiProc will not be involved in any assessment process regarding this tender.

Yep, thanks Ophidian, that’s what I understood from your previous comments. Get going in that garage buddy... very little drop will help! It won t be so bad if your correct on the 6month to construct and commission timescale. With the Eksom contract in mind I was also wondering if they could contact out electrolyte production short term... ish.... if they have to.... till they can supply all the nectar that going to be required themselves! Also worth mentioning that Eksom’s expectations for end of next year completion for phase one ... it’s good and quite necessary to have a timescale target of course... but this IS Africa!

We know Vanchem is capable of producing electrolyte, but we are back o knowing if or not the chemical plant at Vanchem is capable of producing electrolyte in sufficiently large commercial quantities to supply BE with its needs next year.
I queried exactly that several weeks ago... Ophidian advised that he didn’t think so.

Imo the market does need some clarification about that... also the very near term timescales and plans for any potential increases in volumes from the 3 kilns at Vanchem. Hopefully clarity will be forthcoming next week... sp’s respond very favourably when uncertainties are removed!

Nedbank... same bank as recently dealt with ATM’s working capital facility.

Smaller buy ( 761k ) a minute or so before.

8.45 or so this am

2.2 million

huge buy!

The listing was scheduled for around about now with completion expected before the end of this year, that was called of until sometime next year due to the Vanchem deal getting in the way. There was no indication given for when next year it’s likely to happen.

Imo It’s likely the practicalities of upping the production volumes from the soon to be completed Vanchem purchase, winning the Eksom tender business and the increased demand that will generate for production from those kilns to service the hoped for electrolyte demands... together with the construction of East London due to start early new year... will all likewise be prioritised and put ahead of any dual listing plans

There will be increased demands on the BOD’s time coming up soon... and with all the other high priorities expected to be soon arising and needing to be progressed early in the new year ... I wouldn't be surprised to see the listing issue put on the back burner until much later in the year at the earliest.

Bella...ok and thanx for that.

Bella6532... if there isn’t any Chinese interest do you know what the Asian connection is?

About Yellow Dragon Holdings Limited
Yellow Dragon is a private, strategic investor in African resource projects.  The Group comprises a syndication of private investor groupings from Asia and Africa.

RNS Number : 1286A
Bushveld Minerals Limited
03 June 2016
https://polaris.brighterir.com/public/bushveld_minerals/news/rns/story/xe9zyzr

BlueMonday... exactly right.

The immediate release of any news that could be considered to move a company’s sp (up or down) by more than 10% ... has to be released as soon as the company are made aware of it in order to comply with the market disclosure rules. They are legally obliged to comply or face punative action against them for withholding sp sensitive information. That they are aware of. The timing of the RNS release yesterday was simply an example of the bod following those disclosure rules

Obviously the mining RIGHT and the actual license to start digging are two separate parts of the grant... but even so it shouldn’t take very long to get the remaining issues, which seem to be just legal formalities completed.

From this extract it could even all be finally settled before the end of this month.

“Bushveld is keen to gain full rights to mine the Mokopane vanadium, magnetite mine ahead of its acquisition of VanChem due at the end of this month”.

“We understand that Bushveld is fully funded for the $68m acquisition of Vanchem and will move to start
development the Mokopane mine as soon as the full mining license is received and the Vanchem acquisition is done”

Sounds like they intend getting started building the mine complex very quickly and are expecting the full license to be granted as soon as the legalities of the local community sell-on arrangements are completed.

Instead of just flogging the extra volumes of 80mtV a month they will gain through the Vanchem deal... could they not use that capacity for stockpiling in preparation for electrolyte conversion at East London when it’s built and the Eksom tender won?

Would that 80mtV per month that’s said to be coming out of the 1 kiln in use at present ... be sufficient to satisfy the electrolyte requirements of whole of the first phase to be completed by the end of 2020... hoping they win that much of the ontract?

mornington-oz... yeah, be careful of the rip-tide m8, can be pretty strong around Mornington prom.

Toto was the name of Dorothy’s dog in Wizard of Oz. Now we have a dog on a bike... not for very long tho, reported. !

Must be raining out for the cyclist to pop back!

Works ok... ish with iPad, (and the latest OS update) however takes some time for the ‘recommend’ icon to register it!