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Whilst I think BMN is at break even. Tanya is a smart cookie and given the intricacies within accounting esp. whilst aim listed you never know. In 2019 BMN invested $46m. The capex forecast for 2020 is just $8m with:
"Prioritisation of sustaining, critical and regulatory capital, and deferring some growth associated (non-critical) capital expenditure".
"Optimisation of working capital opportunities on debtors, creditors and inventory management".
Whilst this might be bad news for the Duferco CLN notes we only need to make $2 per kg at 4000mtv to cover $8m capex. We only had 1 month of Vanchem on the books last year which will certainly help 2020 numbers too. Its also important to remember by the time we get the accounts BMN will have hopefully been awarded some of the BESS and have the mini-grid up and running. It will also be interesting to see whether China has remained a net importer where BMN are shipping more material. You never know, we could go from zero to hero just like before James. Keep the faith :)
A director deal would certainly help.
Can't remember where I got the numbers but isn't bmn's share of Enerox 37% say $6m paid out which should also see Enerox get the gen4 to the market?
Go FY you trolling POS.
This is the cesspit market of the world and I wiil not reveal transactions to low lives such as your self.
A lot of people who know me on these furums know that I tell the truth
Please get with the program and read again, obviously jealousy impairs your ability to read and digest.
I said that we took good profits, 1 still have a few million running for free that will be passed on down the line
But more importantly this opportunity is presenting itself again with the ridiculously low SP and nowhere near the risk that we had to take, we are stake building again.
I invest for pounds not peanuts.
Loudspeaker I think your right except this time around I honestly can see the share price going a lot higher (10’bag from Here minimum if all pieces in place) I too had over million that I could of sold but didn’t, do I regret not selling honestly yes because a million pound is a million pound but I truely believe in the Bushveld story , the last 3 years have just been the building blocks for the epic transformation we are now seeing with are own eyes . I want to see Bushveld truely become a flagship company in South Africa and put VRFB energy storage on the map supplying those who don’t have power access, cutting carbon emissions and be invested in a company that we can be proud of that is helping the planet for future generations.
Totally agreed fosters the SP is ****e.
Is was ****e a few years ago at 1.25p.so the share group I was involved in decided to buy millions more.
Nobody gave us a hope, we had nothing but a vanadium JORC. and feasibility study.
The bears were all over us, we did a placing with 150 Million warrants attached just to keep the lights on.
Noboby gave us a cat in hells chance of becoming a producer, we were toast.
Well 3 of us went on to become cash millionaire's, one a multi.
And yes we took good profits.
We belive that the same opportunity is offering it's self up again and we are stake building at an unbelievable bargain SP with the company now totally derisked, as being one the lowest cost primary vanadium producers in the world, we will always be the last man standing amongst other producers in the Vanadium world.
James, cheers I don’t attach too much weight to the fact that mcap is below NAV and don’t see it of any great significance.
Whatever you all post, the fact is a sp of 11p how ****e
Steve - the NAV is purported to be a fair valuation of the individual parts of the company’s assets and liabilities . It could be argued that in theory this would be what the company was worth if it was asset stripped and liquidated, though in the real world this would be unlikely.
The point is that the NAV does not take into account future earnings and so you would expect a profitable business to be worth more than the sum of parts of the assets and liabilities on its balance sheet.
James, from an accounting perspective is there any real significance in the fact that mcap drops below NAV? I’ve seen it happen on other shares but in reality it is superficial, the NAV will always be a bit of a moving target like the sp.
Faramog - as stated I can see a much bigger picture with huge upside. My point is the current level of profitability is a reason for the share price being where it is and I am frustrated like many other shareholders. Surely you can understand that.
Gambit- as stated in one of your previous posts, the $1m per week profit you suggest is gross profit. So on that basis, GP for H2 would reach $26m ( £20m).
After deducting S&A costs, minority interest for Vametco, interest and tax etc., post tax profits for H2 would be well south of £10m.
Current Mcap is £127m.
James, I'm of the opinion that we might be slightly loss making or break even for H1.
If this proves to be the case I'm really well pleased.
FFS we were in lockdown for 3 months and still payed all our staff their wages, what a result that will be.
How many companies will be posting a profit making H1 during the biggest pandemic for a 100 years. (answers on a postage stamp)
Some have already gone bust and the hospitality companies are a bloodbath.
IAG the footsie 100 darling 12 months ago at £7 a pop, 94p today and going bust banter on their bb today.
If we come out of H1 relatively unscathed nothing will stop this juggernaut rolling down the road.
Take a good look around at whats happening in so called safe haven's of this world.
The industries that don't produce an essential commodity to get the world out of recession are toast.
You build you way out of recession, some 9f the stimulus packages are $7 trillion and energy storage is the next multi billion dollar industry.
Please look further then the end of your nose.
When other larger companies are going to the wall Bushveld keeps chugging away and so far through this pandemic we’ve come out incredibly well , unfortunately the market has ignored this .
“Your” positivity lololol
Gambit, i love you positivity and I appreciate BBN was talking about H1. He actually believes we will be loss making.
I expect us to make a profit in H2 but for the whole year it is likely to be small.
I like many others can see the bigger picture here, but with a loss making H1 and possible further dilution (discussed at length here today), I feel the short term could be stagnant as far as SP growth is concerned.
James you’ve got that completely wrong , bbn is referring to H1. We are now in H2 and Since the beginning of H2
Vanadium prices are up 20%
Zar / dollar exchange is 20% weaker
Record production June onwards Which is now at 11.2 mtv per day which up 20%
Do the maths but I’ll give you clue it’s around 1$mil per week before tax.
The elephant in the room here that nobody seems to want to acknowledge that on the face of it BMN is currently not making a profit.
BBN an esteemed BMN supporter posted this on Twitter recently:
“At the current H1 sales price of $24.40 per kg, I have BMN roughly breaking even in H1, prior to capital investments programmes.
Once we take into account those investments, be it they are scaled back this year, I believe BMN will make a loss, which may shock one or two.”
To be honest I’m not sure BBN fully understands the accounting treatment for capital investments but I do believe if BMN report a profit this year it will be marginal.
Aside from all the other noise, this is causing a significant drag on the SP which should not just be ignored.
I added yesterday at 11p as Mcap now well below NAV and I think there is huge upside long term for shareholders. However, short term I do not expect the significant rerate that some are predicting.
Grrrrr well my monthly buy tomorrow will be at another low... more shares for me then
We're looks to be on the path for a 2nd stock wave. Hence the 2nd drop
Yes but as explained before weve. Fallen from our lows every other stock on lse had already rerate back to precovid levels apart from Bushveld, in reality we should of ended up at 23.9 and then fallen to about 17p - not 10.5!!!
Do yourselves a favour and look all across the board, it's mostly a sea of red. Even the glorious Greatland Gold has dropped 7p in the last week. Its not just us.
I know everyone here is probably extremely ****ed off with the shareprice but what about some of the big holders , surely there fuming seeing their large investments decimated, surely there biting at Fortunes ears off right now asking what the **** their playing at still being on Aim??
Hahahaa you'd think it from this MC being less than the NAV!
Seriously has something changed at Bushveld, are we not bringing in around a million dollars before tax at present? Is South Africa on total lockdown and production has stopped or have vanadium prices collapsed in the last week ? Is China not going through one of its big building infrastructure programs ever and become a net importer for the first time in 15 years are we currently not seeing the highest production rates ever at Vametco and Vanchem and on track to produce the amount of vanadium ever the company has achieved by the year end or did we not just get 2 contracts for Bushveld Energy??? My mistake it must all been a dream all the milestones we have achieved in the last 2 years and we’ve decided to start selling chocolate teapots because there’s apparently a high demand for them in the hot South African sun.