The following is a summary of the Bushveld Minerals Limited (BSHVF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Total revenue for the year was $137.5 million, a reduction of 7% from last year.

• Underlying EBITDA loss reached $7.5 million, impacted by a $10.9 million drop in revenue and an increased cost of $18.9 million.

• Net loss for the year was recorded at $106.8 million after accounting for an impairment of $6 million.

Business Progress:

• Streamlined operations and focused on core assets, specifically Vametco for future development.

• Achieved revised production guidance with a target to reach 240 mtV a month by Q4 2024.

• Secured refinancing of unsecured convertible loan notes with Orion, enhancing financial flexibility.

Opportunities:

• Anticipated future benefit from higher vanadium prices.

• Secured additional funding and amended agreements for financial support until December 2025 with Orion.

• Disposal of Energy and Lemur assets aims to further enhance financial position.

Risks:

• Potential risks include ongoing low vanadium prices and currency exchange rates.

• Managing outstanding creditors and securing preferred suppliers as critical elements to ensure operational stability and financial viability.

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