Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I'm assuming it isn't that US$2.5M, which the RNS said is extra from BE, but would be another similar big chunk from Acacia as part of EHL consortium (assuming correct that he/they are a member) to go towards the $30 million total. But something like US$2.5M would make up the gap between the relatively small MUST investment and the value of BMN shares sold. A much more encouraging scenario going forwards regarding likelihood of Acacia holding the rest of their shares and still being 'on board' with the overall project. Hope it's right. Thanks, and to FB.
I think Acacia Resources have sold part of their BMN shares to invest US$2.5 million in VRFB H.
RNS Number : 2719U
Bushveld Minerals Limited
01 April 2021
(See last paragraph)
https://polaris.brighterir.com/public/bushveld_minerals/news/rns/story/r7j89jr
Enerox update
The EHL shareholders and Enerox management have determined that the growth capital required by Enerox is US$30 million, which will provide sufficient funding for Enerox to scale up to 30 MW (120 - 240 MWh) per annum manufacturing capacity and sales, executing upon a strong pipeline of available projects, with a future expansion allowing Enerox to scale to at least 150 MW (600 - 1,200 MWh) by 2025.
Bushveld Energy's share of the funding requirement is approximately US$7.5 million, of which it has already paid US$5 million. It intends to invest another US$2.5 million in VRFB H, and thus ultimately in Enerox, in April 2021 in order to maintain its 25.25 per cent indirect shareholding.
Timeline indicating Enerox/Cellcube Company Relaunch mid 2021
https://www.cellcube.com/about-us
Also PortLiner @ end of 2021 a partnership with Zero Emission Logistics (ZEL)
Mission & Vision explained in 7 minutes video
(See @ 3:20 mins with specific regards to VRFBs)
https://en.zelbv.com/missie-visie
So, hopefully just diversifying, but keeping eggs in BMN.
If so, it would be 'nice' to keep the name on the scoreboard and visible by staying >3%.
Time will tell, as always.
I read Acacia has options to take up a lot more shares in Mustang, and has acquired shares from other mustang holders. Also the investment by VRFBH into enerox has been done by a consortium of investors including 2 that wish to remain unnamed but were 1 from Canada and 1 from Asia. Borromeo is from Phillipines. I suspect he has built stakes in both places with this cash. Whether its one grand plan or 2 seperate strategies is the interesting aspect for me.
There is a mismatch though? ~£250K MUST investment does not account for ~£2.5M BMN shares sold.
Mustang Energy - Strategic Investment in the Company (Acacia Resources)
RNS Number : 0775S
Mustang Energy PLC
12 March 2021
https://www.lse.co.uk/rns/MUST/strategic-investment-in-the-company-pkic4zcjso7sw9k.html
And speculation that they handed over more this Tuesday when it hit 18p, but not enough to trigger the third TR-1. As per previous such events, it would be great for individual PIs if another mechanism could be found - £6-7M to buy them out if they plan to sell all.
The inference being they will either sell no more, or they will sell more on another rise, but seems unlikely they will sell at this current SP.
From the dates, % changes, and sp chart it looks like they sold in big chunks on two of the rise days - 7/4 and 4/5, rather than gradually. Or they handed over to MMs on those dates, who then walked down the sp over some days until all sold, if that’s how it can work.
It reduces Acacia's holding from circa 60m shares to circa 45m shares, so the market has had to absorb 15m shares over the last 6 weeks which explains some of the general downward movement as the MM try to shift them.
They reported on13th pig, so the company could have released this morning but sensibly held back
I assumed the opposite, having failed to declare it earlier they waited til after hours this week to release it to avoid it having a negative impact...
After hours on a friday is hardly maximum negative impact territory is it
The thresholds were crossed on 7th April and 4th May, yet they choose to report on 13th coming out the same day as q1 results. Lucky I don’t buy into conspiracies otherwise I might think they had wanted to time it for maximum negative impact
5.02 % down to 3.83% over the last 5 weeks.
Now we know who's been dumping stock.
Maybe due to their investment in Mustang?
Acacia sold some more, I think