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Bushveld Minerals

Bushveld Minerals Ld 2017 Audited Annual Financial Results

Bushveld Minerals Limited (LON:BMN), the vanadium producing company with a diversified projects portfolio of tin and coal assets in Southern Africa, has today announced its audited annual financial results for the year ended 28 February 2017.

The full 2017 Annual Report is now available on the Company’s website at the following link: http://bushveldminerals.com/financialreports.aspx

A printed copy of the 2017 Annual Report will be posted to the Company’s shareholders as per individual request. A copy of the Notice of the Annual General Meeting to be held at 18-20 Le Pollet, St Peter Port, Guernsey GY1 1WH at 11 a.m. on Tuesday 12thSeptember 2017 has also been posted to all shareholders.

Highlights/Key Achievements

 

Bushveld Vanadium

·     In partnership with Yellow Dragon Holdings Limited, the Company completed, on 6 April 2017, the acquisition of a 78.8% interest in Strategic Minerals Corporation (“SMC”), which owns the primary vanadium mining and processing company Vametco Alloys (Proprietary) Limited (“Vametco”) in South Africa.

·     Signed cooperation Agreement between the Industrial Development Corporation of South Africa (“IDC”) and Bushveld Energy Limited (“Bushveld Energy”, a subsidiary of Bushveld Minerals Limited) for the joint development of market opportunities for Vanadium Redox Flow Batteries (“VRFBs”) in Africa.

·     Completed a techno-economic study on the manufacturing of electrolyte in South Africa.

·     Completed a market study for VRFBs in Africa.

·     Completed the Acquisition of the Brits Vanadium Project from Sable Metals Limited.

 

Greenhills Resources

·     Completed the Acquisition of a 49.5% interest in Dawnmin Africa Limited (“Dawnmin”), which holds an 85% interest in the Uis Tin Project in Namibia.

 

Lemur Resources

·     Signed a Memorandum of Understanding (“MoU”) with Sinohydro, a subsidiary of PowerChina for the development of a 60MW coal-fired power plant based at Lemur Resources’ (a Bushveld Minerals subsidiary) Imaloto Coal Project in Madagascar.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.