Member Info for Alfacomp

Tyfoon - I do not believe that Jaxson were able to buy a 25% stake in Vametco with only 655K USD provided by BMN. Thus they will have had to come in with their own funds to contribute to the original purchase of Vametco. Fair play to them - they took a risk that it might not work out and have benefited as a result, just like we all have.

Tyfoon, they are paying interest on the loan.

"Emissions in "key industrial sectors" such as steel, coal-fired power and building materials during winter and early spring will also be given special attention during inspections, the ministry said." Yet further upward pressure on the Vanadium price which will continue to strengthen BMN's hand.

SOTRR - having a BEE-style requirement that a certain percentage of the company is owned by a BEE compliant organisation does not mean that you have to 'give it away'. I mean you can give it away if you really want to but there is nothing to stop you charging for it, or indeed as with Jaxson, loaning it the money so that it can buy its share from you. The BEE requirement is of course a relatively unsubtle kludge to try and get more black entrepreneurs and executives into the mining industry - we clearly have the pick of the crop already in this regard. Hopefully the mining charter will see BEE rules clarified around the 'once empowered always empowered' concept - as if not, and without any other legislation to prevent BEE entities selling to non-BEE entities, the whole concept falls apart as soon as a BEE partner wishes to sell its stake. They could try going and flogging their stake but is it worth much if it means the original company suddenly becomes non-BEE compliant as a result. Where the BEE concept might have some more practical usefulness is as a mechanism for the distribution of a share of dividends to BEE organisations - it is effectively a a profitably related mining tax that can be guided directly to Black empowered mining entrepreneurs, but this trickle down is done away from normal government taxation systems. (Remember how National Insurance in the UK was meant to pay for the NHS, and now does nothing of the sort.)

It is a useful reminder of the normal sort of fare that is served up to AIM investors:- is there oil 3 km down or not, only the rocks know for sure but the drillers spin the yarn and weave a tapestry of believability and the investors come flocking, dreaming of untold riches. It was the same in 1849. Contrast this with Bushveld Minerals that is now making proven profits of something like 45,000 USD on every tonne of Nitrovan sold. In the words of Lucien-'you-do-the-math'-Miers it is not too hard to work out what 3750 x 45,000 x 0.59 is. Answer: 99.56 Million USD

@Tired - indeed the spin off was done very cheaply but then BMN still holds almost 20% of the stock and has appreciated by a factor of 2.5-3 since the spin-off so the strategy seems to have made sense from BMN's perspective. I agree that serious production is not that far off, but AIM investors are a fickle bunch and many who received their ATM allocations for free through BMN holdings simply sold as soon as they could. Like I did when BMN was at 2p I continue to accumulate shares here whilst the SP is significantly undervalued. However this may not be for too much longer. Once the BMN story unfolds a little more and investors see what a great deal the BMN team and Professors Viljoen did with the purchase of Vametco they will immediately look at ATM as the next multi-bagger from the same people.

Indeed - they did their best but it was not enough to shake the faith that there is here

YTSS - no but if you think about it there would be no point in releasing any news about the restructuring of the company before the Mining Charter was out of the way.

Whilst I have a degree of sympathy with your feeling that SP Angel appear to have been somewhat behind the curve on the subject of Vanadium prices I don't think that they can be held entirely responsible for the SP not yet racing up to and exceeding 30p. I believe that there are a number of other more important systemic factors that explain this current but temporary state of affairs:- 1) AIM does not have enough informed, fundamentals based, investors - there's a herd or two of have-a-go trader types based on whatever TA flavour or Twitter genius they currently think is going to make them rich. 2) It simply is too early for us to even have published financial figures - you know those nuggets of affirmational chewing gum that hold together the opinions of the so-called stockbroker experts. Thanks for posting that particular anecdote yesterday brasi ! 3) The multiple levels of ownership in Vametco have not yet been resolved to something more transparent - the YD buyout was the first stage in this, the Sojitz buyout, which I believe is nailed on, will be the next, and then the company can remove a couple of layers in the Vametco corporate structure so that something like >70% of Vametco profits can flow directly to BMN. This resolution naturally needs to wait until the new Mining charter is published. So sit back and enjoy knowing that the 2018 rerate will likely continue in the next 4-6 weeks - now is a good time to put the mobile phone down and do a bit of pruning in the garden following spring's new growth.

Sanchez - it's just that they are all like Brasi's stockbroking expert friend - they are so inundated with noise and have so little time or inclination to do any real research that they just invest using their stomachs and not their brains.

brasi - have you suggested that she read the Bushveld Perspective. As an aside and casting no aspersions do people think there is anything that TBP can or should do to counter the rear-view mirror of this sort of stockbroker chappie or the relatively new investor ?

Pat48 - see the discussion on the friday end trading price - the end of day auction yielded a trade at 3.1p which was somewhat below the 3.3p mid-price at the time. This just corrects that.

Makers - 3 buying and only 1 , the ever knockdown sale priced Cantor, selling.

Vanadium price graph shown updated here:- https://www.thebushveldperspective.com/vanadium-prices It looks like even the 2019/2020 price predictions of Hallgarten are going to be exceeded, but in 2018 ! - see here :- https://www.thebushveldperspective.com/analyst-watch

Indeed fatbanker - it also shows how long Mikhail and Fortune have been working on the integrated Vanadium+ VRFB business model. Mikhail's interest in VRFB's of course goes back much further than that - he was one of the co-authors of Mckinsey's report 'Brighter Africa' (https://www.mckinsey.com/~/media/McKinsey/dotcom/client_service/EPNG/PDFs/Brighter_Africa-The_growth_potential_of_the_sub-Saharan_electricity_sector.ashx)

fb - I don't think the image in that article is the UET battery as the article was written in feb and we believe that they only started ground works in the last 3 months.

Mrremmy - you mean a link to it - not at all - post away!

DarrylJ - yep thats the Eskom Rosherville site definitely but I cannot see where the fences in the picture of the guys digging trenches coincide with the bottom right part of the site as linked to in your satellite image link. 1) The spike on the fence point away from the guys digging suggesting they must be inside the compound. 2) The fence kinks outwards and then back again. 3) Around the point of the kink there appears to be a tank or building with a pipe coming out of it and heading away from the main compound. Whilst there appears to be a round tank on the bottom right corner of the main building, just below the coal combustion rig it's not clear how the fences and pipework tallies with 1-3. Of course the google satellite images are not necessarily up to date. You're right though that is the best candidate we've got.

BBN's 'on queries' - a great summary of the exciting position that we find ourselves in and the news that will be coming soon. https://www.thebushveldperspective.com/on-queries

I have not seen any news at about mapochs since IRL bought them, ooh around 9 months ago.