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Bushveld Minerals updates project timetable

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Bushveld Minerals (LON:BMN) has released a new timetable for its projects under development in South Africa.

The pre-feasibility studies (PFS) for the PQ iron ore and P-Q zone phosphate projects are now scheduled for next year, with a scoping study on the phosphate deposit and metallurgical testwork by the end of this year.

The scoping study for the Bushveld vanadium project is due by the end of this quarter with a PFS next year.

On the tin side, where  developments are being undertaken by subsidiary Greenhills Resources, a scoping study at Mokopane is scheduled for the current quarter; technical due diligence should be complete as the Zaaiplaats tailings acquisition in August and a maiden JORC resource and scoping study carried out at Marble Hall in 2015.

Fortune Mojapelo, Bushveld’s chief executive, said:  “While there are delays expected, they result from factors beyond the control of the company, or the need to incorporate recent developments in the project, such as the potential acquisition of the Zaaiplaats tailings project.

“As a management team, we remain confident in the fundamentals of each of our projects and our approach to their development.”

 

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Price: 20.8 GBX

LSE:BMN
Market: LSE
Market Cap: £239.82 m
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