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hey TwoTits ... Buffet is a Growth investor ... he buys companies that have good value as represented by a wider range of factors than most consider and always plans to hold for decades ... he plans to hold for growth. If you are going to have a pop get it right !
As for what @Pdub pointed out .. really just reminding people to read the published RNS .. it is all clear
You are in no position twohits to start name calling.
Especially aimed against someone with great credibility here
Post reported
Says the guy who swings his large profits around in the faces of all in here and then asks someone who they are based upon them daring to criticise the god who bought at 4.5 and sold at 45p!
Pompous, meet irony
.... with greater tolerance.
Twohits it is always best to do proper research first before winding people up on this bb.
First of all JSE listing is dealt with in the FM / MN interview from 11 November 2019:
"We have said that we are working towards a JSE listing in 2020. It is work that is continuing. I think that when you consider an upgrade from AIM to say the main board in London it's something that as a company we will always consider and the benefits that come with that I think are there, particularly if you can do that and be in a position where you start to attract Index Tracking Funds we think that would bring quite a lot of liquidity to the stock and bring a lot of institutional shareholders to the stock. But again you know you don't want to do it for the sake of doing it. You've got to pick the timing correctly and at the moment our focus and our efforts have been on the JSE listing and on making sure that we attract institutional shareholders to our register which still carries quite a substantial retail shareholder tail."
So they are absolutely focussing on JSE listing. Had you followed this bb and read my transcripts of BMN interviews you would know this.
Then on dividends Fortune deals with this in the interview on 10 August 2019:
"On the dividend policy we didn't so much change as announced our approach to dividends. It is the first time we are actually explicitly stating how we view dividends going forwards as a company The key points we wanted to highlight there were firstly that as a company we are still very much a growth story and therefore a big chunk of our proposition is capital growth. However we as a low cost producer we are a cash generating business and we believe that with the growth ahead of us we will be in a position to fund our expansion and our growth and still have sufficient free cash flow to pay out a dividend and we just wanted to clarify that when we do do that, that will be based upon a payout ratio on free cash flows"
The company took a view that in 2019 expanding the company was better use of the cash being generated from Vametco than issuing a dividend. I, and I hope most genuine investors in BMN, realise that is absolutely the best course of action to generate better long term returns. If you are as experienced an investor / trader as you like to think you are (I noted the bragging about your trading of BMN shares) then you will also appreciate the wisdom of that management decision.
It remains my opinion that the opportunity to acquire the Vanchem processing plant in 2019 may have changed plans for both JSE listing and dividend. I see nothing wrong in that at all. If you wish to continue to place a negative spin on that given what I have posted here then I would be very surprised.
One of the great strengths of this BoD is their ability to be flexible and respond to changing circumstances.
Now please think carefully about your future posts and research first. A better informed post may be met with greater
*you’re
Anyway, i enjoy champagne as much as the next man, just don’t say your serving it today and replace it with beer. There are many other parties i’m invited to and could choose to go to...
I do love how growth investors love to quote warren buffet the value investor.
Beer today or champagne tomorrow? I know wnat I'd prefer. To quote Mr Buffet - the stock exchange is a device to transfer money from the impatient to the patient.
So why did they dangle the divi carrot 2 years ago? I’m all for reinvesting cash if the projects are there, but this should be throwing off way more than enough cash for a divi. It should be looking at some sort of debt financing too; get that WACC optimised...
Also what happened to the joburg placing? I bought back small here after the vanchem completion, have about 150k, a lot less than i used to. Had around 1m that i sold ~45p last year. Still like the company, just unimpressed with the px action over last 12 months or so. Would’ve thought vanchem would have had more of a positive effect.
I would tend to agree RK, but I do hope that on disposal of Lemur, some of it comes back as a Special ... to wet the whistle and share the value
If anyone applies common sense, they would look at consider the market and what the company is doing and where its investment is going, look at the current vanadium price and the upside in 2020 with Bushveld Energy. So the reality is no likely dividend until 2021 in my opinion.
If anyone wants to do some research find out the price of 1 litre of Vanadium electrolyte! Then you can convert this to kilos and you will see that this could be a very strong revenue above the price of V205! This will result in very strong revenues when the V price is lower!
There are several places you can find this info! Job for 'Twohits' I think!
Anyone agree?
No that was Vanchem the new crock of vanadium. Next rainbow will have electrolyte.
At the end of a rainbow next to a leprechaun?
The dividend @TwoHits is over there ... can't you see it ?
Cheers pdub, had a look.
“ The dividend policy reflects Bushveld Minerals' commitment to return cash to shareholders while prioritising its stated growth strategy. The dividend policy is based on a free cash-flow pay-out ratio.”
So I guess there is insufficient cash being generated. That’s not what was intimated a couple of years ago. I own these again btw, was just wondering the latest.
Christ you are so touchy. It’s end 2019, where’s the divi? Simple question.
Twohits ordinarily I would provide an answer to such a question. However from your past record of posting I don't fully trust your motives so I choose not to provide that answer.
On the off chance that I have misjudged you I will point you to the 2018 Final Results RNS. You will find the appropriate reference in the Chairmans Report.
You're
Fair play Twohits. Your not even pretending to be anything other than a paid troll. I admire that. On your way son.
What’s going on with the dividend situation here?