Response to Market Speculation

Bushveld Minerals Limited

10 October 2023

 

10 October 2023

Bushveld Minerals Limited

("Bushveld Minerals" "Bushveld" or the "Company")

Response to Market Speculation

Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer and energy storage solutions provider, notes the market speculation regarding Mr Kamran Sattar and Portillion Capital Ltd's intention to call a general meeting of shareholders in order to effect boardroom changes. The Company met with Mr Sattar yesterday afternoon and is pleased to report that having discussed his concerns, Mr Satter has confirmed in writing that he no longer intends to attempt to requisition a general meeting of shareholders.

The Company is fully focused on concluding the restructuring of the Orion Mine Finance convertible loan, the investment with Southern Point Resources and meeting 2023 production and cost guidance. The Company looks forward to making further announcements in respect of these discussions in due course.

ENDS

Enquiries: [e-mail]

Bushveld Minerals Limited		[phone]
Craig Coltman, Chief Executive Officer
Chika Edeh, Head of Investor Relations
SP Angel Corporate Finance LLP	Nominated Adviser & Broker	[phone]
Richard Morrison / Charlie Bouverat
Grant Baker / Richard Parlons
RBC Capital Markets	Joint Broker	[phone]
Jamil Miah / Sahil Suleman
Tavistock	Financial PR
Gareth Tredway / Tara Vivian-Neal/ Adam Baynes		[phone]

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a low-cost, vertically integrated primary vanadium producer. It is one of only three operating primary vanadium producers, owning 2 of the world's 4 operating primary vanadium processing facilities. In 2022, the Company produced more than 3,800 mtV, representing approximately three per cent of the global vanadium market. With a diversified vanadium product portfolio serving the needs of the steel, energy and chemical sectors, the Company participates in the entire vanadium value chain through its two main pillars: Bushveld Vanadium, which mines and processes vanadium ore; and Bushveld Energy, an energy storage solutions provider.

Bushveld Energy is focused on developing and promoting the role of vanadium in the growing global energy storage market through the advancement of vanadium-based energy storage systems, specifically Vanadium Redox Flow Batteries ("VRFBs").

Detailed information on the Company and progress to date can be accessed on the website www.bushveldminerals.com

 

END