I would not want to be out of bmn right now!! great opportunity has presented itself to buy in low - would expect a multibag off these levels very quickly

http://www.bushveldminerals.com/upload/content/lemur_bid_fourth_supplementary_bidders_statement-10-10-13.pdf


http://www.bushveldminerals.com/upload/content/bushveld%20-%20replacement%20bidders%20statement%20-%20final.pdf ...

http://www.bushveldminerals.com/upload/content/edison%20investments_bmn_040413_outlook.pdf

http://www.bushveldminerals.com/upload/content/macquarie_research_obtalaresources180412.pdf

http://www.bushveldminerals.com/upload/content/2012_04_16_merchant_securities-first_view.pdf

22-Apr-13 Fox-Davies Capital Buy 10.75p 28.00p 28.00p Reiteration

10:00 3.50p 50,000,000 £1,750,000 Buy O
15:43 3.50p 10,000,000 £350,000 Buy O
10:28 3.75p 2,500,000 £93,750 Buy O
09:24 3.50p 2,500,000 £87,500 Buy O
10:04 3.50p 2,500,000 £87,500 Buy O

Plus from July

The Directors of Bushveld believe the Offer is a compelling proposition for Lemur Shareholders. The Offer provides the opportunity for Lemur Shareholders to participate in projects which it believes have a shorter timescale to production and with fewer complexities to overcome than the Imaloto Coal Project, and in commodity areas with exposure to global markets which it believes are currently more attractive than that for thermal coal.
Bushveld has been advised that certain Lemur Shareholders, who together hold approximately 40% of the issued capital of Lemur, intend to accept the Offer within five business days after commencement of the Offer Period in the absence of a superior proposal being publicly announced before the end of that five business day period. Bushveld already holds 5,150,000 Lemur Share or 2.68% of the issued share capital of Lemur. Certain Lemur Shares held by some of these shareholders, constituting 27.27% of the issued share capital of Lemur, are classed as restricted by the ASX, with their release being subject to customary conditions. To the extent these conditions are not able to satisfied by the end of the five business day period presently contemplated, the timing of these acceptances may be modified. Please refer to section 9.16 of this document for further information.

yeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

first one

Bushveld Minerals Ld

Corporate and Operations Update


RNS Number : 6202R

Bushveld Minerals Limited

29 October 2013







29 October 2013







Bushveld Minerals Ltd

("Bushveld" or the "Company")

Corporate and Operations Update





Bushveld Minerals Limited (AIM: BMN), a mineral development company focused on iron and tin projects in southern Africa, is pleased to provide an operations and corporate update on its Bushveld Iron Ore and Marble Hall Tin Projects in Limpopo Province, South Africa.



Highlights:

1. Corporate Update

1.1. Obtala & Blackrock Share disposal

· Obtala and Blackrock reduce their shareholding to below the disclosable levels of 5%

· Increase in the Company's shareholder base leading from the Obtala and BlackRock disposals and acceptances by Lemur shareholders of the Bushveld bid for Lemur

1.2. Lemur Bid

· Bushveld's all share bid for Lemur Resources Limited will close finally on 01 November, 05:00 PM (Australian WST)with no extension

· Bushveld has to date acquired a controlling interest in Lemur, with a shareholding of 54.16% and allotted shares in Bushveld to Lemur shareholders that accepted the Bushveld offer

2. Bushveld Iron Ore Project: Increase in strike of P-Q Zone Deposit

· Strike of the mineralisation of the P-Q Zone increased by 3.7 km onto the adjoining farms Schoonoord 786 LR and Bellevue 808 LR. (an increase of 67% in the total strike length)

- Drilling on southern extensions of the P-Q mineralisation confirms mineralisation (grade and extent) for an additional 2.3 km

- Assays of the BV-1 borehole (dating from drilling in 1991) extend known strike of the P-Q Zone by a further 1.4 km southwards

· Assays being incorporated into a resource model to upgrade the resource and to be published by 30 November 2013

3. Greenhills Resources: Initial drilling for Marble Hall Tin Project confirms tin presence

· Initial drilling at the Marble Hall Tin Project confirms the presence of a mineralised breccia including an intersection of 1.39% tin (Sn) over 1.75 m.and 0.88% Sn over 1.00 m



1. Corporate Update

1.1. Obtala and Blackrock reduce respective shareholdings in Bushveld

Subsequent to the RNS released by the Company on 10 October 2013 regarding a share price movement, the Company established that the substantial share trading volumes were triggered by the sale of shares held by Obtala Resources Limited and Blackrock.

Notwithstanding the impact of these share trades on the Company's share price, the Company now benefits from increased liquidity and a much wider share ownership. Shareholders above the disclosure threshold of 5% now hold an aggregate 56% of the company, while the ten largest shareholders hold 77.99% of the Company compared to more than 95% prior to the Share disposal.

Commenting on this Fortune Mojapelo, the Company CEO, said, "While disappointed by the manner of the on-market share disposal of the last few weeks, particularly considering the existing orderly market agreement that Obtala signed with the Company, we nonetheless welcome the resultant more diverse and active shareholder base and believe that this will lead to improved liquidity, ensuring a Bushveld share that is more responsive to the positive developments in the Company's projects."

1.2. Bushveld bid for Lemur Resources Limited

The Bushveld all-share bid for Lemur Resources Limited is set to finally close on 01 November 2013 at 5:00 PM (Australian WST). To date Bushveld has acquired a shareholding of 54.17% in Lemur Resources Limited in the now unconditional bid.

Following the closing of the bid, the Company intends to promptly complete a comprehensive strategic review on Lemur in the coming weeks and will update the market accordingly.

Fortune Mojapelo commented, "Again, we welcome all the Lemur shareholders that accepted the Offer onto the Bushveld register and look forward to working with and for them as we grow our Company into a successful diversified portfolio of attractive assets."

2. Bushveld Iron Ore Project: P-Q Deposit

Results of drilling of the P-Q Zone on the farms Schoonoord and Bellevue

The assay results received for four boreholes drilled on the recently acquired farms Schoonoord 786 LR and Bellevue 808 LR, confirm the continuity of the P-Q mineralisation for an additional 2.3 km to the south. In addition results from the Company's logging of the borehole BV-1, drilled in 1991 on the farm Bellevue 808 LR by the Council for Geoscience and located 1.4 km further south of borehole SN003 drilled on Schoonoord confirm the continuity of the same mineralisation for a further 1.4 km resulting in an aggregate strike extension of 3.7 km. This represents a 67% increase to the existing strike of 5.5 km on which the current resource of 718 mt is based.

In the BV-1 borehole, the P-Q Zone was intersected at a depth of ~600 m.

All the above boreholes intersected the P-Q mineralisation. These intersections show strong similarities to the previously drilled boreholes on which the current Mineral Resource Estimate is based, thereby reinforcing management's belief in the continuity of the P-Q Zone. These results are expected to be incorporated into an updated Mineral Resource Estimate for the P-Q Zone. Summaries of the intersections are presented below.


BHID

BH

Depth

Top of P-Q

Base of P-Q

P-Q width* (m)

Avg Fe

%

Avg

Fe2O3

%

Avg

V2O5

%

Avg

TiO2

%

Avg

P2O5

%

Avg

SiO2

%

Avg

Al2O3

%


SN01

210.14

137.23

171.74

32.82

30.89

44.19

0.18

10.85

0.07

25.67

10.19


SN02

200.00

113.22

152.00

36.88

27.21

38.92

0.16

9.69

0.06

28.56

12.66


SN03

175.47

109.55

151.65

28.60

33.48

47.89

0.20

9.91

0.06

23.75

10.92


BV-1

2949.5

581.36

618.50

35.32

35.59

46.63

0.19

9.41

0.04

21.33

9.71


*True widths after correcting for a dip of 18˚, and excluding any granite sills.

Note: Average grades exclude granite sills, but include the Ti-magnetite barren parting between the P and Q Ti-magnetite layers. The SN boreholes are numbered from north (SN01) to south (SN03) along strike on the farm Schoonoord, with a spacing of ~500 m between them.

Fortune Mojapelo elaborated on these results, saying: "The results validate our belief in the potential of the Bushveld Iron Ore project to host more than 1 billion tonnes. The significance of the anticipated resource increase lies in the opportunity to grow the scale of the project without increasing the stripping ratios and thus cost of mining. It also presents the opportunity to maintain the current scale of operations envisaged in the scoping study released in April 2013, while lowering the overall costs by mining to shallower depths along longer strike and thereby reducing the stripping ratio."



3. Greenhills Resources: Marble Hall Tin Project

Results of initial drilling at the Marble Hall Tin Project

Following the acquisition of 50% of the Marble Hall Tin Project (update 26 September 2013), the Company has completed the drilling of three initial boreholes. Two of these boreholes intersected breccia zones (known to host tin mineralisation in the area), and assay results confirm the presence of zones of significant tin mineralisation, with borehole VLK2 containing three mineralised breccia zones. Owing to poor drilling conditions, a third borehole had to be abandoned and did not reach the breccia zone. A summary of the intersections is presented below.



BHID BH Depth From (m) To (m) Width* (m) Avg Sn (%)

VLK1 60.00 27.00 28.06 1.06 0.12

VLK2 85.30 51.76 53.00 1.24 0.17

VLK2 85.30 58.30 59.30 1.00 0.88

VLK2 85.30 64.35 66.10 1.75 1.39

* The breccia is subhorizontal in orientation and thus the intersections represent true widths.

The presence of two intersections bearing significant tin grades (0.88% Sn and 1.39% Sn) in borehole VLK2 increases confidence in the historic data available for the deposit. These historical data showed grades in excess of 1% Sn over as much as 5 m. The Company is awaiting approval of a Section 102 application to include additional farms into the licence area. Following this approval, the Company plans to commence further drilling with the aim of defining a maiden Mineral Resource Estimate for the deposit.

Fortune Mojapelo said: "The Marble Hall project presents an opportunity for Bushveld to further grow its tin resource inventory and puts the 50,000 ton contained tin resource inventory well within sights. Being a brownfields project with a historical Pre-Feasibility study completed by Gold Fields in the 1980's already provided us confidence in the project. The above results add to this confidence by confirming the mineralisation levels reported historically. We now look forward to firming these results with further drilling into a JORC-compliant resource and advancing this project along with the Mokopane Tin Project."



Enquiries: info@bushveldminerals.com


Bushveld Minerals

Fortune Mojapelo

+27 (0) 11 268 6555


Fox Davies

Jonathan Evans

+44 (0) 20 3463 5000


Tavistock Communications

Jos Simson/ Nuala Gallagher

+44 (0) 20 7920 3150


Tielle Communications

Stéphanie Leclercq

+27 (0) 83 307 7587



This information is provided by RNS

The company news service from the London Stock Exchange

gibby

Your thread is in a mess

learn to edit and keep the staff not important OUT of the post

or do not bother to open any more threads

it looks a disgrace place

do you wonder why posters do not post here?

Just a bit of advise

thanks ott

if there is a good news rns tomorrow ref lemur takeover looking at an intraday high anywhere 5 to 10p imo

http://www.theel1tetrader.com/2013/11/bushveld-minerals-asset-valuation.html

I would not want to be out of bmn this week!! rns probably later today or tomorrow

fantastic rns - moving.............................


27 November 2013

For Immediate Release


Bushveld Minerals Ltd

("Bushveld" or the "Group")

Introducing a new vanadium focused platform, Bushveld Vanadium



Bushveld Minerals, a diversified mineral development company with projects in Africa, is pleased to provide an update on its iron ore project with the announcement of a new platform based on its MML Deposit. The new platform, which is to be called Bushveld Vanadium, will focus on accelerating the development of a potentially world-class vanadium resource in the MML with the possibility of becoming one of the world's largest vanadium producers. The Board of Bushveld believes this merits its own development path given the potential world-class nature of the deposit.

Highlights

· Bushveld Vanadium will be a dedicated vanadium platform based on the Main Magnetite Layer (MML) Deposit

· Capacity to realize additional credit from its iron and titanium content

· Two additional zones of vanadium, combining up to 70 m thickness, have been discovered in recent months with scope to increase resource substantially

· Concentrates grade in excess of 2% V2O5, have been produced from the MML and the footwall mineralisation, making for some of the highest-known vanadium grades from a magnetite deposit

· Scoping study on the enlarged vanadium resource in Bushveld Vanadium to be completed in H1 2014. The Company will investigate the development of an operation capable of supporting production of between 5,000 and 10,000 tonnes per annum of vanadium products

· Simple and shallow ore body amenable to low-cost mining

Commenting on this development Fortune Mojapelo, CEO of Bushveld said,

I am delighted to present the Bushveld Vanadium project, which we look forward to developing alongside the equally exciting P-Q Deposit project. The vanadium potential of the MML has been known to us from inception and is the reason we have sought in our past project announcements, to distinguish between the P-Q Deposit and the MML Deposit even though the two deposits are about 2 km apart and run along parallel strikes. What has not been as clear before is the scale of the vanadium deposit, the vanadium proposition of the disseminated magnetite zones and thus the massive potential of the project. The thick outcropping zones will ensure that the mining operation is a low cost one with very low stripping ratios.



This should not come as a surprise, considering the deposit is located less than 10 km from the world's richest and largest open pit platinum mine, in arguably the most mineralized section of the Northern limb of the Bushveld Complex, itself host to 35% of the world's vanadium resources (a close second to China).

Moreover at ~US$17,500 / tonne of standard grade V2O5 and as much as US$35,000 / tonne of ferrovanadium, this is a high value commodity project which can deliver attractive economics for a modest scale of operation.



We are obviously excited at the potential of developing the Bushveld Vanadium project and through this initiative we can ensure that the project receives the required attention without detracting from the other projects in the Bushveld Group, which we remain excited about and committed to developing".

Background

The Bushveld Iron Ore project is based on the vanadiferous titanomagnetites of the Bushveld Complex where the Company has delineated a combined 770 Mt JORC-compliant resource in two adjacent deposits: the P-Q Zone Deposit (718 Mt) and MML Deposit (52 Mt)

The two deposits have been reported to be distinct from each other in respect of their chemical compositions, with the P-Q Zone Deposit showing high iron and titanium grades, while the MML Deposit shows high iron and vanadium grades as shown below.

This is significant in its impact on the product strategy and the processing routes adopted by the Project: the P-Q Zone Deposit is geared towards iron and titanium products while the MML Deposit is geared towards vanadium and iron products.

Initial focus on the project was on developing the P-Q Zone deposit and making the case for the combined economic credits from its iron and titanium, and to a lesser extent vanadium. The Company has previously released a Scoping Study in April 2013 based on the 718 Mt titanium-rich P-Q Zone Deposit, and is currently undertaking pre-feasibility studies on the P-Q Zone Deposit.



Bushveld Vanadium Project

The Bushveld Vanadium Project is based on the MML (Main Magnetite Layer) Deposit, which has a previously reported initial JORC-compliant 52 Mt Indicated resource in, with a top-tier vanadium grade (1.48% V2O5 in-situ).

Further work undertaken by the Company in recent months has identified two new mineralized zones in the hanging wall (termed the MML-HW) and foot wall (termed the AB Zone) of the MML. These zones comprise primarily disseminated vanadium-bearing magnetite, and when combined add up to 70m in thickness and provide a step-change in respect of the scale of the project. The zones are parallel to the MML, and dip similarly at 18˚ - 20˚ to the west. All of these zones occur at surface in the current prospecting area.

The Company has decided that these deposits are sufficiently robust to develop into a stand-alone vanadium project now called Bushveld Vanadium, and is proceeding with a Scoping study.

The development of Bushveld Vanadium will not in any way affect the development route of the Bushveld Iron Ore Project and is meant to improve the total combined value to the Company by fully developing a hitherto under-resourced (by way of both human and financial capital) vanadium deposit.

Two new vanadium zones found adjacent to MML

Further work on the now re-named Bushveld Vanadium Project has taken place over the last few months. This included assaying the hanging wall of the MML zone (the MML-HW) in the boreholes already drilled by the Company as well as the footwall zone (the AB Zone) in the BV-1 borehole located south and down-dip from the established 52 Mt MML resource (JORC-compliant).

The MML-HW has been assayed in two boreholes drilled by the Company, which targeted the MML. These boreholes were stopped short of drilling the AB Zone, which is intersected in the borehole BV-1, a historical borehole drilled in 1991 on the farm Bellevue (part of the Bushveld Resources prospecting right). These intersections are summarized in the table below:




Borehole

Mineralised Unit

From (m)

To (m)

Width (*true thickness in parentheses)

Fe

(%)

TiO2

(%)

V2O5

(%)


VL05

MML-HW

37.0

98.2

61.2 m (57.6 m)

14.2

3.2

0.36


VK05

MML-HW

28.9

126.6

97.9 m (92.0 m)

10.6

2.4

0.30


BV-1

AB Zone

1523.3

1534.3

11.0 m (10.4 m)

28.8

6.2

1.17


*true thickness calculated assuming a dip of 20˚



Although in-situ grades for the MML-HW are low (owing to disseminated magnetite), the high vanadium content of the magnetite grains means that high-V concentrates can be achieved from this zone through magnetic separation .



Davis Tube Tests undertaken on the MML and AB Zone returned encouraging results as shown by the concentrate grades below:

- MML: 2.01% V2O5 , 56.86% Fe and 11.90% TiO2.

- AB Zone: 2.38% V2O5, 54.90% Fe and 9.91% TiO2

The diagram attached hereto shows the three parallel zones comprising the Bushveld Vanadium project:

http://www.rns-pdf.londonstockexchange.com/rns/0688U_-2013-11-27.pdf





The Bushveld Vanadium project may thus contain a potential >200 Mt vanadium-rich resource, placing it among the world's largest and highest-grade vanadium resources. In addition, the simple ore body layout (shallow-dipping layers) is amenable to low-cost open-pit mining targeting all three zones.

The table below shows the assays and calculated concentrate grades achievable on these horizons, alongside the original 52 Mt MML resource.




Unit

Thickness

Resource potential

V2O5 grade (in concentrate)


MML-HW

>60 m

>250 Mt

1.5% - 1.7% (est.)


MML

8 m

52 Mt (JORC Indicated)

2.01% (Davis Tube)


A-B Zone

~11 m

~60 Mt

2.38% (Davis Tube)




Processing

There are several existing operations in South Africa that have been mining and processing the MML in South Africa that provide processing precedents. Therefore, this drastically reduces the technology risk associated with the Bushveld Vanadium project.



They include:

· The salt-roast process employed by Rhovan on the western limb of the Bushveld Complex. This process involves milling the ore, producing a concentrate by magnetic separation, roasting the concentrate, and leaching vanadium from the roasted product

· The Highveld process employed by Highveld Steel on the eastern limb of the Bushveld Complex. This process involves pre-reducing the magnetite concentrate before feeding to a smelter where hot metal produced is fed directly into steelmaking, while a vanadium slag is treated through a vanadium recovery unit based on shaking ladles

· Hydrometallurgical processing options based on leaching and selective precipitation of iron, vanadium and titanium.

These will be investigated in the Scoping Study that the Company has already commenced. The Scoping Study will be based on an operation capable of supporting production of between 5,000 and 10,000 tons per annum of vanadium products.

Vanadium is a high value commodity with attractive prices. Long term prices for vanadium across different products are expected to be in the range of US$14,000 to US$17,500/t for standard grade V2O5, US$28,000 to US$35,000 for battery (electrical) grade V2O5, and US$28,000 to US$35,000 for ferro-vanadium.

Being a high value product, the envisaged scale of production would yield significant revenues while not subject to infrastructure constraints given its location on the Bushveld complex.

Work Programme for Bushveld Vanadium

The programme for the project going forward is designed to establish the true scale of the project and complete a Scoping Study and Pre-feasibility Study within 2014. This will include:

· Sample and assay the hanging wall unit on all boreholes drilled to date to define a JORC resource for the MML-HW

· Drilling to intersect the AB Zone and define a JORC-compliant resource on this zone

· Metallurgy studies - physical beneficiation (to produce a high-V titano-magnetite concentrate), as well as pyrometallurgy studies for a production of a vanadium and/or ferrovanadium product with iron ore and titanium by-products

· Complete scoping and subsequent pre-feasibility studies prioritizing production of vanadium/ ferro-vanadium products, with iron and titanium by-products

About Vanadium

Vanadium is a brittle, very hard metal, light silvery in colour which is stable in dry air at room temperature and oxidizes at high temperatures.

Vanadium uses

Vanadium is mostly used in the steel industry as a strengthening and anti-corrosive additive. Around 0.2% vanadium content increases steel strength up to 100% and reduces weight up to 30%. More than 90% of vanadium is consumed as ferrovanadium in the production of steel. This consumption is expected to increase significantly driven by China, where government policy to replace use of low strength steel bars with high-strength will drive up China's vanadium intensity of use, which is expected to rise by 31.4% between 2011 and 2016, raising the global intensity of use from 0.055kgV/t to 0.07kgV/t during the same period. This is significant, coming from a market that is the single largest consumer of steel.

Vanadium is also a key material in the production of high-performance batteries in the mass energy storage industry where vanadium redox batteries are attractive for their capacity to connect directly to power grids and streamlining intermittent flow of energy from wind turbines and solar cells. The consumption of vanadium in the redox storage batteries sector is forecast to rise to 8,500 tpa by 2017 from 1,100 tpa in 2012.

Vanadium use in in aerospace titanium alloys is currently the fastest growing subsector with vanadium consumption expected to rise from 3,000 tpa in 2011 to 6,000 tpa in 2016.

Vanadium sources

The world's vanadium reserves are concentrated in only three countries, which together account for 98% of the world's vanadium reserves: China (37%), South Africa (35%) and Russia (26%). In South Africa, virtually all the vanadium reserves are based on the Bushveld Complex where the Bushveld Vanadium Project is located.

It is frequently recovered as a by-product or co-product and is generally sourced in its primary state from deposits of titaniferous magnetite, phosphorous ores, uranium ores, iron sands, oil, oil shale, tar sands and vanadiferous clays. It can also be sourced by recycling spent Ni-Mo and Co-Mo refinery catalysts in the petrochemical industry and ash produced by combustion of oil emulsion in power stations.

note:
http://www.tngltd.com.au/projects/mount_peake_fe_v_ti/primary_uses_of_vanadium.phtml

http://www.miningweekly.com/article/high-tech-uses-for-vanadium-to-drive-demand-prices-up-2012-08-23

Concentrates grade in excess of 2% V2O5, have been produced from the MML and the footwall mineralisation, making for some of the highest-known vanadium grades from a magnetite deposit

Moreover at ~US$17,500 / tonne of standard grade V2O5 and as much as US$35,000 / tonne of ferrovanadium, this is a high value commodity project which can deliver attractive economics for a modest scale of operation.

don't underestimate the value of this rns in its entirety

other link
http://www.proactiveinvestors.co.uk/companies/news/63577/bushveld-says-lemur-has-scope-for-company-making-acquisition-63577.html?

http://www.proactiveinvestors.co.uk/companies/news/63644/bushveld-minerals-shares-surge-as-it-unveils-plans-to-target-vanadium-resource-63644.html

onwards and upwards - expect strong blue open tomorrow :-0

expecting a strong blue day today - great presentation yesterday from bmn - should be available online imminently if not already

http://www.rns-pdf.londonstockexchange.com/rns/1181U_-2013-11-27.pdf

http://www.theel1tetrader.com/2013/10/bushveld-minerals-take-advantage-of.html

good to see the rerate continue

onwards and upwards

BritishB's displaying a stay long signal for BMN today. Also a well known chartist has 8.61p as the initial target for this one.

cheers northerly1 - personally expect double digits here
atb

Nice rise today so far but plenty more to come, in my view. I just don't think that most people have woken up to this one yet, especially bearing in mind that the vanadium play alone could well be worth over 25p per share.

Another welcome rise today and I'm sure that this will soon reach 10p+.

More volume and we could be on our way.

Get in while you can someone just bought 50million circa 10% of the company, tons of news due DYOR

From the Vanadium Scoping Study…….

Base case production of 1Mt pa gives us 10,370 tonnes of V2O5 pa.

So over the mine life of 30 years, we can produce 311,100 tonnes of V2O5.

Revenues per the SS are $16,500 per tonne (conservative), giving revenues over the mine life of around $5.133 billion.

The profit margin is around 60%, giving project operating profits of $3.04 billion.

Payback is 4 years and 4 months.

Over the 30 year mine life, the project generates free cash flow of $1.612 billion!

So just from the MML Vanadium resource we have.......

Revenues - $5.133 Billion.

Operating profit - $3.040 Billion.

Free cash flow - $1.612 Billion.

This is based on 760,000 tonnes of contained vanadium.

After the August upgrade we have 1,277,000 tonnes of contained vanadium.

This month's RNS puts us up to a potential 2,195,000 tonnes.

If we extrapolate the above figures using the upgrades, it would give us roughly,

Revenues - $14.825 Billion.

Operating profit - $8.780 Billion.

Free cash flow - $4.656 Billion.

When you consider we are targeting considerably more than our current resource, as our platform is still open at depth and along strike. We can probably double the above figures to come to a closer approximation to our Vanadium’s worth.

What an incredible platform!

Fortune has already said that he has had plenty of interest in the vanadium platform, surely this can only be greater after the last 2 upgrades!

Imo, getting a Strategic partner and the associated finance should be relatively easy for such a project, especially taking into account the high calibre of the BoD and their expertise.

Come on Glencore etc

Bear in mind we also have a billion tonne resource of Iron Ore, 442Mt of Phosphate, Tin, Titanium and Coal, plus 57.2% of Lemur’s cash. All for a market cap of £13m, what a joke!

Plus CREC news imminent……….. TAKEN FROM LSE

onwards and upwards ;