Bushveld Minerals Ltd - vanadium producer operating the Vanchem and Vametco processing facilities in South Africa - Confirms it has met all the conditions related to its receipt of approval for the disposal of Lemur Holdings Ltd from the Development Bank of South Africa, as announced in its interim results on September 17. As a result, it is no longer liable for the outstanding approximately $2.5 million in debt owed to the DBSA, and will receive a total consideration of $100.
Chief Executive Officer Craig Coltman says: ‘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.’
Current stock price: 0.41 pence, up 0.2% in London on Friday morning
12-month change: down 73%
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