Bushveld Minerals Limited (AIM:BMN, OTC:BSHVF) steered 10% higher on Friday morning after announcing a definitive sales and marketing agreement with Southern Point Resources.
Southern Point will carry out all marketing and sales of Bushveld’s vanadium product produced at both the Vametco and Vanchem plants on an exclusive basis.
Southern Point will also provide Bushveld with a provisional working capital facility of $25-30 million, to replace the existing working capital facilities.
Shares were swapping for 2.32p with a market capitalisation of £36 million as of 9.15am.