Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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The industrial action was unprotected; in other words not sanctioned in terms of the Labour Relations Act protocol.
This development could represent a bit of a blow for Bushveld Minerals which was already pushing for a strong performance out of Vametco this year after recently unplanned maintenance-related stoppages hurt fourth quarter production. Further downtime of some 35 days’ duration had been pencilled in at Vametco this year.
Bushveld Minerals’ vanadium production for 2021 was recently estimated to be between 4,100 tons to 4,350 tons. This represented a 13% to 20% increase over 2020 production (3,631 tons), including the planned maintenance at Vametco. Bushveld also produces vanadium from Vanchem, facilities situated near to Emalahleni in Mpumalanga province
Bushveld Minerals said that during “a series of meetings” between senior management and AMCU it was agreed that “… all reasonable steps would be taken to urge employees to safely return to work”.
Bushveld Minerals plans to expand its South African vanadium production to 8,400 tons a year from 2,931 in its 2019 financial year. All in all, its expansion ambitions carry a $100m price tag. It spent $53m last year buying the Vanchem facilities from a rival company. It also has the Mokopane vanadium resource that it wants to develop.
Vanadium is used in the steel manufacturing process but it has also been earmarked to play a greater role in the development of stationary long-life batteries which are thought to have a role in decarbonisation.
Pdub, Libero, thank you both for your replies. I guess my frustrations are from the fact that I believe that I made the right decision to invest in this share several years ago now, a small holding compared with most but sizeable for me, and are now slightly down and I just don’t understand why we are still down at this level. Is it lack of comms, lack of news, lack of sentiment? Why are others doing better, FAR?
I try to say to myself not to invest in shares I do not understand, and as such I am questioning myself more than anything. Again to both, especially Libero, thanks for your comments.
MonkeyTom, I completely disagree with you, but bravo for commenting when you have to try avoid damaging sentiment.
I genuinely believe we've had a string of bad luck which is largely out of FM's control. This arguably started with coronavirus 13 months ago. This not only had an impact on production but much of BE's activities. We've since had the Eskom BESS tenders announced but then delayed (not his fault). We've had some IIs sell for innocent reasons (such as Keystone IT selling due to being bought out and therefore having a change of strategy). We've now just had some workers go on strike against the advice of the union (again out of FM's control). If it was not for these events alone, we would be at a much higher share price to where we are now of course.
The comms is far from ideal (I agree there) but there's clear signs of improvement in recent weeks and some things evidently cannot be communicated because they're linked to the Eskom BESS tenders for example.
So, after all of FM's demonstrable strategic genius & negotiation of excellent deals over the years, I remain incredibly confident in his abilities. He's often multiple chess moves ahead of everyone else and I've no doubt that's the same here.
He really just needs to improve on the comms (not sitting on positive news to announce it in the Quarterly Updates being the main thing) and there'll be nothing to fault him on really IMHO.
Hope that helps but understand some will disagree.
Have a good night and GLA
Monkeytom, putting aside PR which most agree could be better, which parts of the business are failing and justify your rather melodramatic conclusion? Without evidence that the business is failing in some way your comments appear to be rather odd..
Sorry for posting this to the LTH brigade, however, I am now having serious doubts about FMs ability’s. The brigade will shout me down and advise that he is a strategist, etc. However I was not impressed with the last video, he seemed on edge rubbing his hands, and Comms are becoming embarrassing.
Posted this at this time so that it is gone by morning so won’t affect sentiment.
We need feedback on this ASAP to settle concern