logo-loader
viewBushveld Minerals Ltd

Bushveld Minerals enjoys robust first half

Looking ahead, the transformation programme at the Vametco operation should see output rise to 3,400 metric tonnes of vanadium

Bushveld Minerals Limited -

Bushveld Minerals Limited (LON:BMN) delivered a robust performance in the face of weaker vanadium prices that left it in a strong financial position moving into the second half.

On revenues off modestly at US$78mln, the South Africa-focused group delivered profit after tax US$2.3mln higher at US$30.8mln for the six months ended June 30.

Free cash flow advanced to US$23.3mln from US$16.4mln at the same point last year and the company had just over US$66mln in the bank at the period-end.

The ferrovanadium price averaged US$56.3 per kilogram, down from US$65.5 in 2018.

Looking ahead, the transformation programme at the Vametco operation should see output rise to 3,400 metric tonnes of vanadium, up from the current 2019 guidance of 2,800-2,900 tonnes.

By 2022, the figure should be in the order of 4,200 tonnes.

Quick facts: Bushveld Minerals Ltd

Price: 22.165 GBX

LSE:BMN
Market: LSE
Market Cap: £255.56 m
Follow

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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