TIDMBMN
RNS Number : 8086G
Bushveld Minerals Limited
27 November 2020
Market Abuse Regulation ("MAR") Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
27 November 2020
Bushveld Minerals Limited
("Bushveld Minerals", "Bushveld" or the "Company")
General meeting results
Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated
primary vanadium producer and energy storage provider, with
ownership of high-grade assets in South Africa, is pleased to
announce that all resolutions put to shareholders at the General
Meeting held earlier today were duly passed.
No Ordinary Resolutions Votes
In favour Against Withheld
------------ --------- ---------------
That the Directors be authorised
to exercise all powers of the
Company to issue up to 50,000,000
Ordinary Shares, pursuant on
the conversion of any Convertible
Notes issued pursuant to the
1 Convertible Loan Note Instrument 182,459,178 743, 417 224,172
-------------------------------------- ------------ --------- ---------------
Subject to the passing of Resolutions
1 and 2 the Directors be are
authorised to exercise all
powers of the Company to issue,
grant rights to subscribe for,
or to convert any securities
into, up to 115,297,268 ordinary
shares (in the capital of the
Company being approximately
3 ten per cent. 182,341,215 843,418 242,134
-------------------------------------- ------------ --------- ---------------
Special Resolutions
-------------------------------------- ------------ --------- ---------------
That, subject to the passing
of Resolution 1, the Directors
of the Company be and are hereby
authorised to exercise all
powers of the Company to issue
up to 50,000,000 Conversion
Shares in the capital of the
Company pursuant to the Conversion
as if the pre-emption rights
contained in Article 9.2 of
the Articles of Incorporation
of the Company did not apply
2 to such issue. 182,459,178 749,417 224,172
-------------------------------------- ------------ --------- ---------------
That, subject to the passing
of Resolutions 1, 2 and 3,
the Directors of the Company
be and are hereby authorised
to exercise all powers of the
Company to issue or grant Equity
Securities in the capital of
the Company pursuant to the
issue or grant referred to
4 in Resolution 3 182,332,715 856,918 237,134
-------------------------------------- ------------ --------- ---------------
ENDS
Enquiries: info@bushveldminerals.com
Bushveld Minerals Limited +27 (0) 11 268 6555
Fortune Mojapelo, Chief Executive
Officer
Chika Edeh, Head of Investor
Relations
SP Angel Corporate Finance
LLP Nominated Adviser & Broker +44 (0) 20 3470 0470
Richard Morrison / Charlie
Bouverat
Abigail Wayne / Richard Parlons
BMO Capital Markets Limited Joint Broker +44 (0) 20 7236 1010
Tom Rider / Michael Rechsteiner
/
Neil Elliot
Peel Hunt Limited Joint Broker +44 (0) 20 7418 8900
Ross Allister / Alexander
Allen
Tavistock Financial PR
Charles Vivian / Gareth Tredway
/
Edward Lee +44 (0) 207 920 3150
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a low-cost, integrated, primary vanadium
producer, with ownership of high-grade vanadium assets.
The Company's flagship vanadium platform includes a 74 per cent
controlling interest in Bushveld Vametco Alloys (Pty) Ltd, a
primary vanadium mining and processing company; 100 per cent of
Bushveld Vanchem, a primary vanadium processing facility with a
beneficiation plant; the Mokopane Vanadium Project and the Brits
Vanadium Project.
Bushveld's vision is to become a significant, low-cost,
integrated primary vanadium producer through owning high grade
assets. Whilst the demand for vanadium remains largely anchored in
the steel industry, Bushveld Minerals believes there is strong
potential for an imminent and significant global vanadium demand
surge from the fast-growing energy storage market, particularly
through the use and adoption of Vanadium Redox Flow Batteries.
Bushveld Energy, the Company's energy storage solutions provider,
plays a leading role in the development and promotion of the role
of vanadium in this market.
The Company's approach to project development recognises that,
whilst attractive project economics are imperative, they may be
insufficient to secure capital to bring them to account. A clear
path to production within a visible timeframe, low capital
expenditure requirements and scalability are important factors in
ensuring a positive return on investment. 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 .
About Vametco
Vametco is located near Brits on the Western Limb of the
Bushveld Complex. The integrated operation comprises a vanadium ore
mine and a processing plant that produces mostly Nitrovan , a
trademark product sold in major steel markets across the world. The
mine lies adjacent to the Brits Vanadium Project, which will in
future serve as an alternative source of near surface run of mine
("ROM") ore feed to the Vametco plant.
The Vametco mining operation uses open pit bench mining methods
to mine a well-defined orebody. The deposit is continuous with
limited faulting and dips in a northerly direction at approximately
19 degrees.
ROM ore is fed into a primary, secondary and tertiary crushing
circuit, followed by milling and magnetic separation to produce
magnetite concentrates. The magnetite concentrates are fed into the
extraction process which includes the kiln for roasting followed by
leaching and precipitation. Thereafter the precipitated vanadium as
ammonium metavanadate is converted to modified vanadium oxide
("MVO") in rotary calciners. MVO is fed into the mix plant and
finally into the shaft furnaces to produce Nitrovan.
About Vanchem
Vanchem is situated at Ferrobank Industrial Park in Emalahleni
Local Municipality, Mpumalanga Province in the Republic of South
Africa. Vanchem is a primary vanadium producing facility with a
beneficiation plant capable of producing various vanadium oxides,
ferrovanadium and vanadium chemicals. Vanchem uses the salt roast
beneficiation process, similar to the one used at Vametco. The
plant comprises: a core salt-roast processing plant, including 3
roasting kilns, an electric smelting ferrovanadium converter, an
alumino-thermic smelting facility, also located at Highveld, a
vanadium chemical plant; and a rail siding linking the plant with
Bushveld deposits and additional potential supply sources through
the national rail network.
About Bushveld Energy Limited
Bushveld Energy is a leading energy storage solutions provider,
focusing on the African market. Bushveld Energy recognises that
electricity in Africa intersects paramount potential for social
transformation with an immense commercial opportunity.
Bushveld Energy is focused on developing and promoting the role
of vanadium in the growing global energy storage market through
application in vanadium redox flow batteries. Its near term
strategy is to deploy several VRFB systems as part of its longer
term vision to become a significant electricity storage provider in
Africa, meeting the demand for utility scale energy storage in
Africa by leveraging South Africa-mined and beneficiated
vanadium.
http://www.bushveldenergy.com
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