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"The transformational acquisition achieves Bushveld's strategy to develop a significant, vertically integrated vanadium platform and accelerates the company's path to production by several years. We note that the total consideration payable for SMC is substantially less than the construction and development costs associated with a greenfield mine and plant of the same capacity. Vametco Alloys is a high quality, low cost producer with a patented vanadium product and a global vanadium customer base. We believe vanadium prices will recover in over the medium term due to increased demand coupled with curtailment of supply from high cost producers. A rebound in vanadium prices provides strong upside potential."
Beaufort's note from this morning: "Bushveld Minerals, a diversified mineral development company with a portfolio of vanadium, iron ore, tin and coal assets in Africa, announced today that it has secured financing amounting to US$5.2m with strategic and financial partners. The proceeds will be used to complete the first phase of the acquisition of Strategic Minerals Corporation (SMC) from Evraz Group as announced on 9 May 2016. Bushveld with its partner Yellow Dragon, a private and strategic investor in African resource projects, will own 45% and 55% equity interest, respectively in Bushveld Vametco Limited (BVL), a special purpose vehicle established for the acquisition. SMC owns the producing Vametco vanadium mine in South Africa (Vametco Alloys). The total consideration of the acquisition is US$17.2m and will be executed in two tranches of US$4.7m and US$12.5m. Upon completion of Tranche 1, BVL will have an effective interest of 23% in SMC, which would increase to 78.8% on completion of Tranche 2. Bushveld will fund its portion through a placing of 98.3M new shares at a price of 1.8p per share. The funding package agreed with Yellow" From Research Tree
Pathetic response to that RNS. Overhang from placement perhaps. If that doesn't shift it, what will? I'm out till momentum returns. 
Todays gonna be a good day for us, I can feel it! Happy birthday to me from BMN!
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