Bushveld Minerals Limited (OTCPK:BSHVF) Q3 2024 Earnings Conference Call November 12, 2024 8:30 AM ET
Company Participants
Craig Coltman – Chief Executive Officer
Conference Call Participants
Operator
Good afternoon and welcome to the Bushveld Minerals Limited Q3 Operational Update. Throughout this quarter meeting, investors will be in listen-only mode. Questions may — the company may not be in a position to answer every question received during the meeting itself. However, the company carry [ph] your questions submitted today and probably respond where it’s proper to do so.
Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, Craig Coltman. Good afternoon to you.
Craig Coltman
Good afternoon and welcome to the Bushveld Minerals Operational Update Call for the 3 and 9 months ending 30 September 2024. Unfortunately, due to ongoing discussions, we are not in a position to answer questions pertaining to the group’s financial position, but we’ll answer those questions which have been submitted in advance of the call.
This quarter, Bushveld has taken difficult but necessary steps to stabilize our financial position, commencing with cost-cutting initiatives, including a reduction of the current labor complement at both Vametco and head office. Measures like these speak to our commitment to managing what is within our control against the backdrop of an adverse vanadium market. We’ve also made significant progress towards reducing the Barren Dam level. The team have worked tirelessly with limited staff to manually reduce the levels by approximately 2 meters. This is a commendable effort and it reflects Bushveld’s commitment to safety, resourcefulness and operational effectiveness, even in these challenging times. Furthermore, we recently announced a controlled slowdown of operations at Vametco due to current liquidity issues. The duration of the slowdown will be determined by the timing of receipt of sufficient funds.
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