Bushveld Minerals Ltd - vanadium producer operating the Vanchem and Vametco processing facilities in South Africa - Receives a further R 56.3 million, around $3.0 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 $12.5 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%
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