Bushveld Minerals Limited Admission to AIM of AfriTin Mining Limited (9873V)
November 09 2017 - 2:01AM
UK Regulatory
TIDMBMN
RNS Number : 9873V
Bushveld Minerals Limited
09 November 2017
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
9 November 2017
Bushveld Minerals Limited
("Bushveld" or the "Company")
Admission to AIM of AfriTin Mining Limited
Bushveld Minerals Limited (AIM: BMN), a diversified mineral
development company with a portfolio of vanadium, tin, coal assets
and other interests in Southern Africa, is pleased to announce the
admission of AfriTin Mining Limited's ("AfriTin Mining") Ordinary
Shares (AfriTin Mining Shares) to trading on the AIM market of the
London Stock Exchange. Dealings in AfriTin will commence at 8.00 am
today.
Anthony Viljoen will become the Chief Executive Officer of
AfriTin Mining and as such will stand down as an executive director
at Bushveld with immediate effect. However, he will remain on the
board of the Company as a non-executive director.
Upon Admission to AIM, Bushveld will own a total of 51,995,342
AfriTin Mining Shares, representing 17.48 per cent of the issued
share capital of AfriTin Mining, which at the issue price of 3.9p,
is valued at approximately GBP2.0 million. A further 24.39 per cent
of the issued share capital of AfriTin Mining will be distributed
to the Bushveld shareholders on the register as at the close of
business on 08 November 2017.
AfriTin Mining's Admission Document is available on the
company's website: www.afritinmining.com
Fortune Mojapelo, CEO of Bushveld Minerals, said: "With this
milestone, we have fulfilled our promise to shareholders to develop
the necessary critical-mass for a stand-alone tin company with a
near-term production profile and a perfect opportunity to grow into
the African tin champion. This is the culmination of significant
work done over the years.
"We are delighted to have AfriTin listed on the AIM Market. As a
substantial and committed shareholder, Bushveld will remain
supportive of AfriTin. Congratulations to Anthony and his team; we
wish them well for the future."
Enquiries: info@bushveldminerals.com
Bushveld Minerals +27 (0) 11 268 6555
Fortune Mojapelo
SP Angel Corporate Finance
LLP +44 (0) 20 3470 0470
Nominated Adviser & Joint
Broker
Ewan Leggat
Beaufort Securities +44 (0) 20 7382 8300
Joint Broker
Jon Belliss
Blytheweigh
Financial PR
Tim Blythe / Nick Elwes +44 (0) 207 138 3204
Gabriella von Ille +27 (0) 711 121 907
Notes to editors
Bushveld Minerals is an AIM listed mineral project development
company with a portfolio of vanadium, tin and coal assets in
Southern Africa, including interest in a vanadium-producing
operation.
The Company's flagship platform, the vanadium platform, includes
the Mokopane Vanadium Project, the Brits Vanadium Project, and an
interest in Bushveld Vametco Alloys primary vanadium mining and
processing company. The coal platform comprises the wholly-owned
Imaloto Coal Project, which is being developed as one of
Madagascar's leading independent power producers. The Company's tin
interest is held through its shareholding in AIM listed AfriTin
Mining Limited.
Bushveld's vision is to become a significant, low-cost,
integrated, primary vanadium producer through owned low-cost,
high-grade assets. This incorporates development and promotion of
the role of vanadium in the growing global energy storage market
through Bushveld Energy, the Company's energy storage solutions
provider. Whilst the demand for vanadium remains largely anchored
in a slow growing steel industry, Bushveld Minerals believes there
is strong potential for an imminent, significant, global vanadium
demand surge from the fast-growing energy storage market,
particularly through the use and adoption of Vanadium Redox Flow
Batteries.
The Company's approach to project development recognises that
whilst attractive project economics are imperative, they are
insufficient to secure capital to bring them to account. A clear
path to production with a visible timeframe, low capex requirements
and scalability are important factors in retaining an attractive
exit option. This philosophy is core to the Company's strategy in
developing projects.
Detailed information on the Company and progress to date can be
accessed on the website: www.bushveldminerals.com
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
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