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Bushveld receives USD3.0 million loan from Southern Point

March 14, 2024 at 11:32 am EDT

Bushveld Minerals Ltd - vanadium producer operating the Vanchem and Vametco processing facilities in South Africa - Receives a further ZAR56.3 million, around USD3.0 million, from Southern Point Resources Ltd as an interest-free loan. This brings the total paid to Bushveld by the South Africa-focused investment fund to USD12.5 million.

Chief Executive Officer Craig Coltman says: "The receipt of this cash enables the company to reduce creditor balances whilst we continue to implement the necessary initiatives to improve operational performance at Vanchem and Vametco."

Current stock price: 1.50 pence per share, up 3.5% in London on Thursday

12-month change: down 67%

By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DOW JONES SOUTH AFRICA(ZAR)	1,962 PTS	+1.81%	+2.47%	-
DOW JONES AFRICA TITANS 50 INDEX	462 PTS	+1.81%	+1.69%	-
S&P AFRICA 40 INDEX	157.6 PTS	+3.21%	+3.26%	-
BUSHVELD MINERALS LIMITED	0.65 GBX	+4.00%	-39.53%	17.57M

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