Bushveld losses narrow

Bushveld Minerals reports significant progress inthe six months to the end of August to develop its vanadium platform into a globally significant low cost integrated vanadium entity and advancing participation in the growing energy storage market through VRFBs.

The group posts a pre-tax loss of £32,763 for the period - down from £864,439 last time.

The company saysit remains on track to achieving its objectives in respect of all three of its platforms:

- To complete the SMC acquisition by securing acquisition finance for the transaction

- To secure a mining right for its Mokopane Vanadium project in Mokopane;

- To complete the studies for VRFBs in Africa, electrolyte manufacturing in South Africa, and to secure a test site for a sizable VRFB installation in the country.

- To build a critical mass of tin resource inventory and to advance the tin projects towards production

- To secure a power purchase agreement for the development of a coal-fired power station using the Imaloto coal resource in Madagasacar.

Bushveldalso has published an interview with Mikhail Nikomarov, head of Bushveld Energy Limited, a subsidiary of Bushveld Minerals, on the ramifications of the Integrated Resource Plan Update for 2016, released in South Africa on 22 November.

Bushveld Energy Limited was launched in January 2016 to focus on developing and promoting the role of vanadium in the growing global energy storage market through application in Vanadium Redox Flow Batteries ("VRFB").

The interview is available at: https://www.brrmedia.co.uk/event/142952/?popup=true

At 9:06am: (LON:BMN) Bushveld Minerals share price was 0p at 1.28p