Bushveld Minerals Limited (AIM: BMN), the primary vanadium producer, announces that the Company has received a further ZAR65 million (~US$3.4 million) from one of Southern Point Resources’ (“SPR”) limited partners, on behalf of SPR, as a loan on an interest-free basis. The Company has now been loaned ~US$9.4 million on an unsecured, non-refundable, interest-free basis by SPR (the “Loan”). The delay in receiving the remaining balance of US$3.1 million is due to outstanding funds from one of SPR’s institutional partners. SPR has communicated that the outstanding balance will be paid no later than 14 March 2024.
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