viewBushveld Minerals Ltd

Bushveld Minerals shares jump again as it reveals plans for Imalato project


Shares in Bushveld Minerals (LON:BMN) gained ground again as 54%-owned subsidiary, Aussie listed Lemur Resources (ASX:LMR), outlined its strategic plans.

For its Imaloto coal project in Madagascar, Lemur aims to secure an independent power plant concession, to begin the environmental impact assessment, and to find a joint venture or strategic partner to assist with the development.

It also plans to use its A$16.4 million cash resource to secure one or more mining assets in Africa with a focus on those with either near term production potential or with the chance of a significant resource.

Imaloto has a JORC Resource of 135.7 million tonnes of which 68% is in the high confidence measured category.

It includes a scoping study showing production for domestic and export markets of up to 1.5 million tonnes per year, low Phase 1 capital expenditure of US$12 million, a net present value of US$36 million and a 19 year life of mine.

The project is near the existing port of Tulear and adjacent to proposed Soalara Port, where infrastructure planning is underway to provide a mineral bulk handling export facility.

Bushveld shares rose nearly 9% in early deals to 5 pence each, while yesterday (Wednesday) they surged over 20% after the company unveiled plans to accelerate a potentially world-class vanadium resource at its iron ore project in South Africa.

A new platform, to be called Bushveld Vanadium, will focus on exploiting the resource from the MML (main magnetite layer) part of the multi-commodity deposit in Limpopo province, the firm told investors.

It means Bushveld shares are now starting to recover from a slump in early October in which they lost around half their value as a significant shareholder sold down its stake.

Quick facts: Bushveld Minerals Ltd

Price: 11.4333 GBX

Market: LSE
Market Cap: £135.06 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Bushveld Minerals Ltd named herein, including the promotion by the Company of Bushveld Minerals Ltd in any Content on the Site, the Company...


Bushveld Energy, as part of a consortium of investors, increases investment...

Bushveld Minerals (LON:BMN) subsidiary Bushveld Energy CEO Mikhail Nikomarov joined Steve Darling from Proactive Vancouver to discuss the company acquiring more of a stake in Enerox Holdings. That company is a maker of Vanadium Redox Flow Batteries. Nikomarov telling Proactive why they decided...

on 14/8/20

2 min read