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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bushveld Minerals Limited | AQSE:BMN.GB | Aquis Stock Exchange | Ordinary Share | GG00B4TM3943 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 6.67% | 0.80 | 0.55 | 1.05 | 0.80 | 0.75 | 0.75 | 0.00 | 10:30:09 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBMN
RNS Number : 4683Q
Bushveld Minerals Limited
30 November 2016
Bushveld Minerals Limited
30 November 2016
30 November 2016
Bushveld Minerals Limited
("Bushveld" or "the Company")
SA Competition Commission approves Strategic Minerals Corporation acquisition
Bushveld Minerals Limited (AIM: BMN), a diversified mineral development company with projects in South Africa and Madagascar, is pleased to announce the Competition Commission of South Africa has completed its investigation and unconditionally approved Bushveld Vametco Limited's acquisition of Strategic Minerals Corporation ("SMC"), in accordance with section 14(1)(b) of the Competition Act.
The Company is making good progress in securing the financing for the completion of the acquisition and to secure the fulfilment of the remaining conditions precedent which include obtaining approval from Bushveld shareholders and the waiver or lapse of Sojitz Corporation's pre-emption rights to acquire the SMC shares.
Further updates will be provided as appropriate.
Fortune Mojapelo, CEO of Bushveld Minerals, commented:
"We are pleased this significant milestone in fulfilling conditions precedent for the SMC acquisition has been completed within the expected time frame. The approval is supportive of Bushveld's efforts to complete the transaction as soon practically possible."
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.
Enquiries: info@bushveldminerals.com
Bushveld Minerals
Fortune Mojapelo +27 (0) 11 268 6555
Beaufort Securities
Jon Bellis +44 (0) 20 7382 8300
Strand Hanson
Andrew Emmott +44 (0) 20 7409 3494
Blytheweigh
Tim Blythe / Camila Horsfall +44 (0) 20 7138 3204
Gabriella von llle +27 (0) 711 121 907
ABOUT BUSHVELD MINERALS LIMITED
The Company's vision is to become the largest low cost integrated primary vanadium producer through owned low-cost high-grade assets. This incorporates development and promotion of the role of vanadium in the growing global energy storage market through Bushveld Energy, the Company's energy storage solutions provider. Whilst the demand for vanadium remains largely anchored in a slow growing steel industry, Bushveld Minerals believes there is a strong potential for imminent significant global vanadium demand surge from the fast-growing energy storage market, particularly through the use and adoption of Vanadium Redox Flow Batteries.
Bushveld Minerals' approach to project development recognises that whilst attractive project economics are an imperative, they are insufficient to secure capital to bring them to account. A clear path to production with a visible timeframe, low capex requirements and scalability are important factors in retaining an attractive exit option. This philosophy is core to the Company's strategy in developing projects. Detailed information on the Company and progress to date can be accessed on the website: www.bushveldminerals.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 30, 2016 02:00 ET (07:00 GMT)
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