Bushveld to dispose of Vanchem asset to SPR, working capital advanced

Aim-listed Bushveld Minerals has secured additional funding to provide immediate working capital relief and ensure continuity of its operations by entering into a binding term sheet with Southern Point Resources Fund (SPR) to conditionally sell the entire Vanchem vanadium processing plant asset for up to $40.6-million. The transaction comprises an initial consideration of $20.6-million and a deferred consideration of between $15-million and $20-million.