|Interest||1.75% Gross Sales Royalty (or ~C$1.09/t annual cap)|
|Counterparty||Bushveld Minerals Limited|
- Exposure to a world-class, high-grade, outcropping vanadium resource, located adjacent to the Vametco Mine and within 3.5km from the Vametco Processing Facility.
- The JORC compliant Competent Person’s Report published in January 2020 showed an aggregate Inferred and Indicated Mineral Resource distributed across three seams of 66.8 Mt @ 1.58 % V2O5 in-magnetite.
- As Bushveld expands its annual vanadium output, Brits provides potential additional ore feed to Bushveld’s Vametco Facility and their Vanchem Processing Facility.
- Bushveld’s 2020 production guidance for Vametco is 2,700 mtV – 2,850 mtV, with plans for a production ramp-up to 4,200 mtV per annum, subject to a definitive feasibility study; and 2020 guidance for Vanchem of 960 mtV – 1,100 mtV (currently being ramped-up via a 3-phase programme to >4,200 mtV per annum).(1)(2)
- Unique exposure to globally significant vanadium producer in Bushveld Minerals, 1 of only 3 operating primary vanadium producers, owning 2 of the world’s 4 operating primary vanadium processing facilities.
- Further information can be found at this website: Bushveld Vanadium – Bushveld Minerals.
(1) Production Guidance: Bushveld Minerals Limited Unaudited Interim Results for the Six Months ended 30 June 2020 (https://polaris.brighterir.com/public/bushveld_minerals/news/rns/story/xjy9nkx)
(2) Production Expansions: Bushveld Minerals Limited H1 2020 Interim Results Presentation dated 30 September 2020 (http://www.bushveldminerals.com/wp-content/uploads/2020/10/BMN-H12020-Interim-Results-Presentation-003.pdf?v=0.710)