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.
18 October 2024
Bushveld Minerals
Limited
("Bushveld" or the
"Company")
Disposal of Interests in
Lemur Holdings Limited ("Lemur")
Bushveld Minerals (AIM:
BMN), the AIM quoted, integrated primary vanadium producer,
further to the interim results announcement of 17 September
2024 which confirmed that the Company had received approval from
the Development Bank of South Africa ("DBSA") for the disposal of
Lemur (the "Disposal"), is pleased to announce that all other
conditions to the Disposal have been met. As a result of the
completion of the Disposal, Bushveld is no longer liable
for the outstanding c.US$2.5 million debt owed to DBSA.
The total consideration paid to the Company for Lemur was
US$100.
Craig Coltman, CEO of Bushveld Minerals Limited,
commented:
"The completion of the disposal of Lemur demonstrates steady
progress in Bushveld's strategic intent to rationalise assets with
the view of focusing on Vametco as the Company's core producing
vanadium asset."
Enquiries : info@Bushveldminerals.com
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Bushveld Minerals Limited
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+27 (0) 11 268 6555
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Craig Coltman, Chief Executive Officer
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SP
Angel Corporate Finance LLP
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Nominated Adviser & Joint Broker
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+44 (0) 20 3470 0470
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Richard Morrison / Charlie
Bouverat
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Grant Barker / Abigail
Wayne
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Hannam & Partners
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Joint Broker
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+44 (0) 20 7907 8500
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Andrew Chubb / Matt
Hasson / Jay Ashfield
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Tavistock
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Financial PR
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+44 (0) 207 920 3150
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Gareth Tredway / Tara
Vivian-Neal / James Whitaker
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ENDS
ABOUT LEMUR
Lemur Holding Limited, a
Mauritius-incorporated company, is developing an integrated thermal
coal mining and independent power project (the Imaloto Project) in
Madagascar.
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
