Bushveld Minerals (GB:BMN) has released an update.
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Bushveld Minerals Limited reported a challenging first half of 2024 with a net loss of $45.0 million and an adjusted EBITDA loss of $14.3 million, highlighting a significant drop in revenue and vanadium production compared to the previous year. The company is focusing on cost-saving measures and expects to conclude the sale of its Vanchem plant while seeking funds due from Southern Point Resources Fund I S.A. LP. With a current cash balance of $4.1 million and matched funding of $10 million from Orion post-period, Bushveld is working towards stabilizing production and managing its working capital.
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