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Bushveld Minerals 'still very undervalued' as earnings soar

Fortune Mojapelo, Bushveld Mineral Limited’s (LON:BMN) chief executive, believes the miner's first half numbers were good 'by any stretch'.

He adds, however, that they were based on an average vanadium price of US$65 per tonne, whereas the current price is US$110 per tonne, which bodes well for the second half.

Fundamentals for vanadium are also far stronger going forward than they have been in the past, he reckons.
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Phase 3 expansion at the Vametco vanadium mine is commencing in earnest, while the group is also looking for new brownfield assets.

A dividend policy should be in place by the end of the year, while a framework to highlight the value in the energy storage business is also planned.

“The business is still very undervalued," believes Mojapelo.

Quick facts: Bushveld Minerals Ltd

Price: 23 GBX

LSE:BMN
Market: LSE
Market Cap: £265.18 m
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Investor Update: Bushveld Minerals granted mining permit for Mokopane

Headlines from the Proactive UK newsroom. Bushveld Minerals (LON:BMN) has been granted a mining permit for its Mokopane deposit in South Africa.  Mokopane is one of the world's largest primary vanadium resources.  Shield Therapeutics (LON:STX) is to present data further...

on 22/10/19

2 min read