RE: RNS - Agreement on Convertible Loan Note Refinancing27 Nov 2023 11:44
Blending Vanadium rich s lag into the mix at Vanchem significantly improves recovery rates and further decreases costs.
SPR also holds an interest in Highveld Robust Steel, a company that is in the final stages of acquiring and planning the resuscitation of the Highveld Steel complex, which would provide significant synergistic benefits for both SPR and Vanchem. SPR envisages supplying vanadium-rich s lag to Vanchem for processing at much lower and more efficient costs and higher outputs compared to run of the mine ore. Bushveld would share in the benefit of such optimisation.
§ SPR is also undertaking to develop Mokopane in the near term, reducing the Company's feedstock risk and input costs via an irrevocable life of mine supply agreement.