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Bushveld Minerals Share Chat (BMN)



Share Price: 24.50Bid: 24.00Ask: 25.00Change: -1.00 (-3.92%)Faller - Bushveld
Spread: 1.00Spread as %: 4.17%Open: 25.75High: 26.25Low: 24.25Yesterday’s Close: 25.50


Share Discussion for Bushveld Minerals




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2
carpfisher
Posts: 952
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
'Baby Strider'

That is what others call you on other boards is it not?

Why are you spitting your dummy out over here when you are not even
invested in Bmn?.

Please go and throw your tantrums elsewhere and leave this board to those who
wish to discuss this company's affairs in a grown up fashion.

By the way,...How did you earn the 'Baby Strider ' nickname :~))
 
gkb47
Posts: 1,939
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Endion - try and avoid being rude will you. It's not MY P/E it's from Yahoo.

https://uk.finance.yahoo.com/quote/BMN.L/key-statistics?p=BMN.L
Strider4
Posts: 4,361
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
"You aren't some all seeing deity that decides what is an acceptable comparison or not"

You're dead right Sanchez...it's the BB police that decide that, isn't that right?
Endion
Posts: 2,770
Premium Chat Member
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Well considering this will be the first year the company has been making profit, it will also be the first year it has a real PE attached to it. Not sure what that 25.5 PE nonsense you are talking about it. We already have EBIDTA for 2018 at $107.5 million. So depending on what you wish to deduct you could figure out your own PE ratio.
gkb47
Posts: 1,939
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Yes it is speculative and I take it it's a forward PE? I'd like to see an updated trailing PE first. Last one I've seen for that is Yahoo Trailing P/E at 25.50
Endion
Posts: 2,770
Premium Chat Member
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
This IS speculative, though it has good reason for the numbers I'll use.

Taking yearly production at a conservative 2900mtv. Average V prices of $75 (Yes, yes I know they are low right now but they turning back north and all points to a return to previous figures). With costs of $20 p/kg. These are not in-depth end of year type financial sums but it gives a good rough idea.

2,900 x 55,000 = $159,500,000

X 0.74 = $118,030,000

X 0.8 = $94,424,000

Exchange to pounds by / 1.3 = £72,633,846.

/ 1,119,060,000 = 0.0649p

X 4 = 25.9p (almost the exact current share price).
seaside53
Posts: 210
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Let yourself down there sanchez....cocker....

You couldn't be further from the truth.
gkb47
Posts: 1,939
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
P/E 4 or 5 - where are you getting that from? Anyway SLP.
Endion
Posts: 2,770
Premium Chat Member
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
I picked them actually quite randomly, aside from the fact that two were in Africa. It was also an exercise on my part to see how BMN stacked up. And already baked into the PE? PE is only applied after earnings have been published.

Show me a mining company making as much money as BMN and with as much growth potential that is currently trading at a PE ratio of 4 or 5.
Strider4
Posts: 4,361
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Endion - ok so out of the 3 you've picked there's only 1 quality company...GFM. What's the point in mentioning that GFM's expected PTP is about half of BMN's - it has no relevance as that is already baked into the PE.

GFM has massive scope for expansion as well. Both GFM and BMN look to be quality companies. The Q1 results are clearly all-important here for establishing confidence that production has improved - i.e. that BMN is continuing to deliver the promised growth. The chart for GFM looks MUCH better than that for BMN however, and this is not to be under-estimated.
Endion
Posts: 2,770
Premium Chat Member
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Let's have a closer look at this claim shall we Strider.

I've picked a few mining companies with fairly low PE ratios to compare.

First up Caledonia Mining Corp:

This is another mining company focused on South Africa, so has similarities with BMN in that respect, though its main asset is a 49% stake in the gold Blanket mine in Zimbabwe. It is currently trading on a PE ratio of 4.23.

It's post tax profits for 2018 were $10.8 million. So roughly one seventh of what BMN earned. They also recently drew down another debt facility of $6m. They also had two fatal accidents last year, grade recovery has been lower in 2019 and 2018 compared to 2017 due to improving safety at the mine.

Next up, Gem Diamonds LTD:

A diamond producer, also in Africa. PE of 4.46.

Profit for 2018 of $26m, a third of what BMN earned. They also have $33m in debt (more than their profit) with a further $57.8m available.

And Finally Griffin Mining, an investment mining company with gold assets in China. PE ratio of 4.51.

Profit of $15.3m for H1 2018, so potentially around $30 - $40m for 2018. around a half of what BMN earned.

So, we can see that in at least these cases BMN is making a significantly higher amount of profit, 7x, 3x and 2x respectively. Two of them still have significant debt compared to revenue. And looking forward BMN's revenue for Q1 2019 shipments to US alone is looking to outstrip or match all those companies profits for the year at $39,284,205. If we took off 20% tax that would make $31,437,158.

Add to that the growth potential from not only Mokopane and Brits, but also the entire Bushveld Energy side of the business and BMN should be attracting a much higher PE growth ratio.
Sanchez599
Posts: 4,513
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Strider, why do you even care what we compare with. You aren't some all seeing deity that decides what is an acceptable comparison or not, despite what you may think. It might surprise you to know that some people might be interested to know how BMN stack up against some pretty heftily valued companies.

You will notice how many naysayers are suddenly turning positive. You may as wellstart now, we all know you'll be buying soon enough.
seaside53
Posts: 210
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
A class performance these last few days Pdub. The news you're spreading is so important for those experiencing a touch of the seconds.....

Well done!
Strider4
Posts: 4,361
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Comparing apples and oranges is ridiculous. Why not compare with other miners for start?! Perhaps because you'll find that profitable miners on PEs of 4 and 5 are ten a penny...A couple in the FTSE100 that are on decent PEs (10 and 12, although they were until recently much cheaper) are AAL and BHP.
Bplanoyes
Posts: 68
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Thank for clarifying Paludina.

Now just looking forward to the Q1 operation update an production estimates for 2019.
Paludina
Posts: 909
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
@Bplanoyes: Just 1 vessel left for the month of April delivery. First one in May is due on the 3rd
stodgy88
Posts: 81
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
There are currently 4 Vessels en-route that may have product on board. (72 to 217 MT) paludina 11th april.
Bplanoyes
Posts: 68
Opinion:Strong Buy
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Thanks Paludina.

Did you also not mention a few days back there were 4 shipments on the way with two now being delivered. So possibly a further two deliveries could be imminent?

Thanks
Alfacomp
Posts: 9,929
Premium Chat Member
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Completely insane swanseayellow.

FeverTree has a MC of £3.6 Billion on a pre-tax profit last year of £76M but at least it pays a dividend.
swanseayellow
Posts: 403
Opinion:Strong Buy
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Yesterday’s Times reports Boohoo set to announce stellar annual results £66m pre tax profits on revenue of £844m , sp. 218p Mcap ..2.5b PE of 78 and never having paid a dividend !
Compared to BMN ? That’s ridiculous !!!!!
Sanchez599
Posts: 4,513
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
And all for an absolutely ridiculous 25.5p a share.

That simply isn't going to last. We have been manipulated and shorted
to the point of obscenity. If you aren't buying at these levels, ask why you are even invested. Roll on next week.

Great stuff Paludina. As you say, these are simply the facts.
clarkgriswold
Posts: 4,572
Opinion:Strong Buy
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Plenty of money heading into Bushvelds bank account,Fortune was confident enough to pledge $170 million dollars of investment in a recent state of the nation speech to Cyril Ramaphosa.Obviousely Fortune knows how much cash Bushveld is generating to make such a statement publicly,vanadium price evidently is heading back up nice and slowly.
Endion
Posts: 2,770
Premium Chat Member
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
That's $53,086,764 shipped to America in Q1. BMN's share would be 74% = $39,284,205.36.

That's £30,228,036.70. Just for Q1 shipments to the US alone. That's roughly half of the profit for BMN for the entire of 2018. Wonder how the trolls will manage to twist this into a negative....
Pdub
Posts: 8,801
Opinion:No Opinion
Price:25.50
RE: Top FTSE 100 Company
21 Apr '19
Good news Paludina.

Just done a very rough total of shipped vanadium for Q1 and looks like around 450 tons to US. BMN have published that 60% of product goes to US. IF, and admittedly a big if, 450 tons is 60% of product, thus suggests production may be moving towards 750 tons, or an annual rate of 3000 mtV. This would be very good news if true and combined with rising V prices as discussed earlier..

Of course this is somewhat speculative but Q1 figures could be encouraging.

Regards. Pdub.
Paludina
Posts: 909
Opinion:No Opinion
Price:25.50
Top FTSE 100 Company
21 Apr '19
Exports $9.4 Million of product in only Four days.

Now wouldn't that be a headline?

But of course it isn't a FTSE 100 Company at all but one that has been rubbished on this board for days.

https://thebushveldperspective.com/blog/public-articles-1/post/nitrovan-shipments-to-the-us-183

Facts don't lie.

GLA
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