Analyst Research Report Snapshot

Title:

BUSHVELD MINERALS - DIVERSIFYING ASSETS

Price:

$10.00

Provider:

Edison Investment Research

Date:

21 May 2013

Pages:

1

Type:

AcrobatPDF

Companies referenced:

BMNB.L

Available for Immediate Download
Summary:

Bushveld Minerals (BMN) has made a takeover bid for Lemur Resources, a thermal coal explorer with a 136Mt resource in Madagascar. The proposed offer is an all-share deal that values Lemur at A$19.1m. The deal extends BMN’s strategy from focusing on the exploration/development of South African iron ore and tin to thermal coal. Lemur’s cash position suggests that BMN is paying A$1.6m for its coal assets. These thermal coal assets could give BMN the option to participate in the South African domestic coal market. They could also provide fuel for a potential independent power plant for the company’s iron ore project.

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