Bushveld to settle balance of $11m loan by month-end

Bushveld Vametco (BVL), a subsidiary of Bushveld Minerals, has reached an agreement with financing corporation Barak Fund to restructure an $11-million bridge loan agreement – repayable within two months of drawdown – related to the acquisition of a 78.8% shareholding interest in Strategic Minerals Corporation (SMC) from Evraz Group. Under the terms of the restructured agreement, repayment of all outstanding principal funding, interest and fees has been extended to June 30.