Change of Accounting Reference Date

RNS Number : 7383A

Bushveld Minerals Limited

02 January 2018

 

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.

02 January 2018

Bushveld Minerals Limited

("Bushveld" or the "Company")

Change of Accounting Reference Date

Bushveld Minerals Limited (AIM: BMN), is an integrated vanadium producer with additional investments in coal, power and tin, announces that it has agreed to change its accounting reference date, with immediate effect, from 28 February to 31 December in order to align the Company's accounting reference date with that of Strategic Minerals Corporation Limited and its subsidiaries including Bushveld Vametco Alloys (Pty) Ltd.

Consequently, the Company will prepare audited accounts for the period from 01 March 2017 ending 31 December 2017. These accounts will be notified to the market and posted to shareholders by 30 June 2018.

Enquiries: [e-mail]

Bushveld Minerals	[phone]
Fortune Mojapelo, Chief Executive Officer
SP Angel Corporate Finance LLP	[phone]
Nominated Adviser & Broker
Ewan Leggat
Blytheweigh
Financial PR
Tim Blythe / Nick Elwes	[phone]
Gabriella von Ille	[phone]

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is an AIM listed integrated vanadium producer with additional investments in coal, power. 

The Company's flagship vanadium platform includes a 59.1% controlling interest in Bushveld Vametco Alloys (Pty) Ltd a primary vanadium mining and processing company; the Mokopane Vanadium Project and the Brits Vanadium Project. 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 interests are 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 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 the steel industry, Bushveld Minerals believes there is strong potential for an imminent and 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 within a visible timeframe, low capital expenditure requirements and scalability are important factors in ensuring a positive return on investment. 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

 

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