Bushveld Minerals Limited has announced an update to the proposed demerger of its tin assets, following the shareholder approval, on 20 Oct of the demerger of its tin-focussed subsidiary, Greenhills Resources Limited, now 100% held by AfriTin Mining Limited.
Bushveld has announced the intention by AfriTin to launch an initial public offering.
Bushveld said the IPO fulfils its stated commitment with respect to its tin platform:
- to build a critical mass of tin-resources
- to establish a tin-focused platform and offer Bushveld shareholders a path to unlocking value in its tin platform
The AfriTin IPO combines a quality portfolio of tin assets with a near term production profile, in sound mining jurisdictions and a solid, proven team to deliver on its strategy of developing a sizeable African tin champion.
At 9:48am: (LON:BMN) Bushveld Minerals share price was -0.13p at 9.75p