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25 Oct 2024 14:21
Market Abuse Regulation ("MAR") Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
25 October 2024
Bushveld Minerals Limited
("Bushveld" or the "Company")
Operational Update
Bushveld Minerals (AIM: BMN), the AIM quoted, integrated primary vanadium producer, highlighted in its Interim Results announced on 17 September 2024, that the Company remained focused on managing its working capital.
Due to liquidity issues, the Company now finds itself in a position whereby it is unable to continue operating at current production levels. Consequently, a controlled slowdown of production has commenced at Vametco, the length of which will be determined by the timing of receipt of sufficient further funds.
The Company is scheduled to receive further funding on completion of the Vanchem sale, which is imminent.
As a result of the controlled slowdown of production at Vametco the Company is withdrawing 2024 production guidance as detailed in the Company's announcement of 31 July 2024.
The Company is planning to announce its Q3 2024 Operational Update in the first week of November, which will address the impact on 2024 production guidance.
Enquiries : info@Bushveldminerals.com
Bushveld Minerals Limited | +27 (0) 11 268 6555 | |
Craig Coltman, Chief Executive Officer | ||
SP Angel Corporate Finance LLP | Nominated Adviser & Joint Broker | +44 (0) 20 3470 0470 |
Richard Morrison / Charlie Bouverat |
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Grant Barker / Abigail Wayne |
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Hannam & Partners | Joint Broker | +44 (0) 20 7907 8500 |
Andrew Chubb / Matt Hasson / Jay Ashfield |
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Tavistock | Financial PR | +44 (0) 207 920 3150 |
Gareth Tredway / Tara Vivian-Neal / James Whitaker |
ENDS
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a primary vanadium producer. It is one of the world's three primary vanadium producers, offering compelling exposure to vanadium through its upstream asset.
Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com
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