The Fat Lady has been cancelled15 Jan 2024 12:15
Oh dear - -40%
https://www.lse.co.uk/rns/BMN/further-update-on-outstanding-funds-u3k6yuz6tus48qi.html
"Bushveld Minerals Limited (AIM: BMN), the integrated primary vanadium producer, announces that the receipt of the US$12.5 million funds from Southern Point Resources (SPR) under the recent US$18.4 million equity capital raising has not yet occurred.
SPR and its capital providers continue to confirm that the funds will be forthcoming having been impacted by administrative, procedural, and holiday period delays.
Bushveld has, as previously announced, issued a Letter of Demand to SPR for the contractual outstanding funds.
The Management and Board of Bushveld are monitoring the situation closely. However, until the funding is received, and in order to manage working capital and preserve cash reserves, Bushveld has had to constrain production, suspend certain operational activities and defer creditor payments. The Company may have to consider suspending operations if further payment delays occur."
That is VERY BAD