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Home/Bushveld Minerals' Vametco acquisition 'an amazing deal',...

Bushveld Minerals' Vametco acquisition 'an amazing deal', says SP Angel's John Meyer

SP Angel analyst John Meyer sums up Bushveld Minerals' Vametco acquisition as an amazing deal.

Bushveld has signed off on its long-awaited and transformational deal to buy Russian firm Evraz's 78.8% stake in Strategic Minerals Corporation.

The latter holds 75% of Vametco Alloys which in turn runs the Vametco vanadium mine and process plant 8km northeast of Bushveld's Brits project.

''The timing was fantastic, they agreed what we think is a bargain price ... and since the deal was agreed the Vanadium price has picked up and from what I see it looks as if Bushveld is essentially using Vametco's own balance sheet to finance the deal through what is quite an innovative debt structure'', Meyer says.