https://www.miningweekly.com

Bushveld raises £1.25m

30th October 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – London-listed Bushveld Minerals has successfully raised £1.25-million, after the placing of 36.7-million shares at 3.4p apiece.

The mineral development company would use the proceeds for the ongoing development of its Bushveld iron-ore project and Mokopane tin project, as well as general working capital purposes, said CEO Fortune Mojapelo.

Participants in the placing, which was coordinated by Fox-Davies Capital, would be issued one warrant – with an exercise price of 5p each for a period of two years – for one share.

The warrant would enable Bushveld Minerals to access a further £1.8-million, provided the group’s share price returned to more than 5p a share and all warrants were exercised.

Bushveld expected the new shares to trade on the Aim from November 5.

Any other required funds would be raised through the introduction of strategic partners at the project level to reduce any further dilution to Bushveld shareholders.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 0.55s - 110pq - 2rq
Subscribe Now