SP Angel analyst John Meyer sums up Bushveld Minerals' Vametco acquisition as an amazing deal.

Bushveld has signed off on its long-awaited and transformational deal to buy Russian firm Evraz's 78.8% stake in Strategic Minerals Corporation.

The latter holds 75% of Vametco Alloys which in turn runs the Vametco vanadium mine and process plant 8km northeast of Bushveld's Brits project.

''The timing was fantastic, they agreed what we think is a bargain price ... and since the deal was agreed the Vanadium price has picked up and from what I see it looks as if Bushveld is essentially using Vametco's own balance sheet to finance the deal through what is quite an innovative debt structure'', Meyer says.