Bushveld Minerals increases mineral resouce

Bushveld Minerals has said that drilling at its iron ore project in South Africa has increased that total mineral resource by 107m tonnes to 740m tonnes.

Bushveld Minerals has said that drilling at its iron ore project in South Africa has increased that total mineral resource by 107m tonnes to 740m tonnes.

Of this, 90m tonnes was added to the indicated category and 17m tonnes was in the inferred category.

Drilling has also confirmed that there are no major faults separating the north and south blocks of the P-Q Zone, which means that they will now be reported as a single block.

Advertisement - Article continues below

Fortune Mojapelo, the Company's Chief Executive Officer, said: "This update is an important milestone towards our objective to prove up a resource in excess of one billion tonnes in line with the commitments we made when the company was admitted to AIM in March 2012.

"Importantly, the majority of the additional resource that we have reported is in the indicated category, defined from surface along strike extension. Furthermore, the resource upgrade does not come from deeper resources but adds to a potentially open-castable resource."

The share price rose 4.35% to 12p by midday.




Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular


The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020

This chart pattern could be extraordinarily bullish for gold

The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that invest…
1 Jul 2020

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020