Member Info for Bella6532

Kievsky.. Yes the reason he moved to Australia was for family Reasons. ..his wife is also Australian.
I'm sure many of you received today's PXS FF+ email newsletter with reference to tdf and Wimbledon. I had many conversations with IF about engaging with current customers in this way as a means to inform with 'did you know' and the asking them to 'pass it on' to friends and family etc... I suggested they produce a simple info order stuffer which could contain a subscription order discount to be used by said customer or passed on to friends and family. I also said the aim should be to get every existing and new customer to generate one new customer. Why start now? It should have been done from launch..

The RNS delay may be simply down to getting qrtly figures from DSM. They were talking about trying to set up a real time automated reporting system for all their overseas offices to be linked into HQ.

Thanks Alfacomp... And their push to increase production by at least 25%..."like us they're currently a major single play... If the Glencore off take isn't renewed then surely they'd be looking to diversify too into the huge upcoming highly profitable V battery market... Mmm!

Alfacomp...'Bella - one person who is interested in setting a fund like the one you described is Mr Alberto Arias, who controls 46% of Largo, who already has a name for it - Battery Electrolyte Investment Trust - i.e. BEIT which works in a very similar way to a REIT.'

Yes, I notices he was presenting alongside Matt Harper, Avalon Battery
‘8 July 2019
5th Vanitec Energy Storage Committee Agenda- 12:00 - 18:30
• 12:30 Introduction & ESC Status - John Hilbert & Mikhail Nikomarov
• 15:15 Vanadium Leasing Legal Analysis - Dan Hassett, Wiley Rein
• 15:45 Vanadium Leasing Models - Matt Harper, Avalon Battery & Alberto Arias, ARCM’
http://vanitec.org/images/uploads/5th_Vanitec_ESC_Presentation.pdf?fbclid=IwAR00828cFTYZsYlA35u9QYLL-0F8zDgonvIIQd64nCUDeq6-8PRSpZX5Kro

‘ALBERTO ARIAS Founder and Portfolio Manager for Arias Resource Capital Management LP (“ARCM”)'
https://www.convencionminera.com/perumin33/pdf/conferencistas/cumbre/alberto_arias.pdf
and he's also on the Board of Largo Resources.

‘Arias Resource Capital Management LP is a private equity firm based in New York City that invests in metals & mining companies in global markets, with a special focus on Latin America.
http://www.arc-fund.com/about-us/

and Arias Resources Capital Management LP is shown here as the largest Largo Resources Ltd major shareholder with a holding of 45.5% - I’m not sure how up to date this is.
https://www.marketscreener.com/LARGO-RESOURCES-LTD-6501126/company

AlfaComp, do you think ARCM worked on or had any or may have any future input on the BMN/Avalon Lease agreement?
Do you think there may be any kind of BE Electrolyte tie in/sales arrangement with Largo at any point in the future?
Just thought you may have a better feel for these kind of questions since you've been there with these guys.
Thanks in advance...

RichKen - well said...and those three Leasing Arrangements are key...especially No 3. Who else is thinking of setting up a fund like that?

No names mentioned but here's Avalon making their own video at Vanetec in June.
https://twitter.com/avalonbattery?lang=en

Twitter can be an excellent marketing tool but I can't believe the lack of use/understanding around how to getting it to work for you in business...

https://twitter.com/bushveldmin_ltd/status/1148239403187412993?s=21
Did any of you actually read the slide?
There is a lot of interesting information contained in it (see text below).
No. 1 appears to be the ‘to get us started’ – was this used for the recent US deal?
No.2 or was this used for the recent US deal since BMN didn’t supply the Electrolyte – but did they supply the Vanadium from which the electrolyte was produced?
No. 3 is extremely interesting and could this in anyway be a consideration for say a future ESKOM type deal? With a BMN JSE Listing such a fund could easily be set up.
This is not just a vanadium battery storage fund…this is a BMN vanadium contained in the electrolyte fund…big difference guys…!!!!
For BMN to have put all three Funding scenarios up, surely they must be more than ‘day dreams’…
If I was cynical, I’d almost think the last few hours of chatter were diversionary!!...

SLIDE TEXT:
1.Balance Sheet Supported
Funding Source:
-Initial Rents to be funded by Bushveld Minerals (BMN) for ease, timeliness and to de-risk the product.
-BMN can use own funds or a third party finance provider to support product.
Risk Aspects:
-Risk assessment is strict, permitting only developed economies and those with BMN operations and large or listed counterparties.
-Lease pricing and structure designed to fit that of a bank-financed SPV from start.
Facility Size:
-Small to Medium

2.Bank Financed SPV
Funding Source:
-Evergreen facility with automatic renewal assuming continued adherence to loan covenants.
-Funded by a commercial or development bank, secure by cash-flow from rental payments and title to the Vanadium electrolyte.
Risk Aspects:
-Limited guarantee to cover Vanadium price fluctuations that may devalue the underlying collateral value.
May require commitment to repurchase electrolyte at a minimum value
Facility Size:
Most banks require a minimum size of +/- $10m to make it worth their while.

3. Vanadium Investment Product
Funding Source:
- Vanadium-based fund product to allow investors to invest directly in Vanadium prices.
- Fund’s balance sheet consists of Vanadium contained in electrolyte deployed across different sites and VRFB technologies.
- Fund includes and annuity-style revenue stream tied to rental.
Risk Aspects:
- Design could be bond, EFT, listed fund for liquidity and investor access, cryptocurrency etc
- Fund portfolio structure further de-risks location or end-user specific risks.
Facility Size:
-Much larger in size with almost no maximum limit.

pb940.. Have your read the slide content.
1 = BMN Balance Sheet funded.
2 = Bank funded
3 = Investable Fund funded... Now that's novel and could be really interesting...

PEP unchanged but REMX reduced their holding by a further 350,000 shares.
REMX have sold roughly 14.6m shares since end May and during this time we've been in a strange holding pattern where the SP has moved North & South around roughly a 26p line.
If REMX is selling their shares then on the positive side someone must have been buying them.

PUBLIC EQUITY PARTNERS MANAGEMENT, L.P.
Disclosed positions in BUSHVELD MINERALS LTD (Total BMN shares in issue 1,119,057,953)
8 May 0.54% = 6,042,912
4 June 0.60% = 6,714,347 (+671,435)
7 June 0.71% = 7,945,311 (+1,230,964)
25 June unchanged.
8 June unchanged
https://shorttracker.co.uk/company/GG00B4TM3943/

REMX VANECK VECTORS RARE EARTH/STRATEGIC METALS ETF
BMN Holding as at:
30 May 19 19,280,491
31 May 19 22,345,311 (+ 3,064,820)
6 Jun 19 23,738,860 (+ 1,393,549)
10 Jun 19 23,320,660 ( - 418,200)
11 Jun 19 unchanged
12 Jun 19 unchanged
13 Jun 19 23,181,192 ( - 139,468)
17 Jun 19 23,041,696 ( - 139,496)
18 Jun 19 21,931,696 (- 1,110,000)
19 Jun 19 20,652,688 (- 1,279,008)
20 Jun 19 19,888,338 ( - 764,350)
21 Jun 19 18,039,471 (- 1,848,867)
24 Jun 19 4,989,471 (-13,050,000)
5 Jul 10 4,639,471 (-350,000)
https://www.vaneck.com/etf/equity/remx/holdings/

'SP Angel forecasts: Figures based on 100% of Vametco plant. Bushveld now hold an effective 74% of the Vametco plant.
Bushveld hold 100% of Vanchem'
https://www.uploadlibrary.com/SPAngel_JohnMeyer/Bushveld_Valuation_Adjustment_July_19.pdf

Looking at the annual numbers through 2023, they don't quite seem to be in line with BMN's forecasts/time frames.
****************************/articles/broker-research-a2f4425/

http://www.bushveldminerals.com/wp-content/uploads/2019/06/Bushveld-2018-Annual-Report.pdf

I guess everything now hinges on getting Vanchem across the line ASAP and getting the expansion works completed and Mokopane Licence through...let alone all the other stuff going on with regard to BE and the electrolyte production & leasing, Eskom etc etc....

Alfacomp...derrr...I missed your reference to September 2015 RNS...and the fact they announced the Buy Back then with their post AGM announcement. Anyway, if they did the same now on a 10% basis it would represent about £28 - £30m.

Note to self...read carefully next time...

10% = approx 112m shares...they're going to have to do some prizing...I'm not for selling...is anyone else???

The question is, will they cancel them or use them for the JSE Listing or perhaps something else like a further acquisition.

'
WHY DO COMPANIES BUY BACK THEIR SHARES?
The main reason companies buy back their own shares is to switch cash from mature sectors and investments to new sectors or expanding companies. Share buybacks are an increasingly frequent and healthy phenomenon. When there are no investment opportunities offering a return commensurate with the required rate of return, management returns cash to shareholders, who, presumably, can find investments that meet their requirements. Here we are reminded of M. Jensen's theory of free cash flow: when a company buys back its own shares, at least it is not undertaking a risky diversification or massively over-investing!

Shareholders and management can have other reasons for wanting to buy back shares:

A change in the relative weighting of shareholders between those who refuse to sell their shares to the company for reasons of control (i.e. in order to increase their percentage of ownership) and those who agree to sell some of their shares, hopefully at above their market value. This happened recently with Peugeot.
Tax reasons, as it is often less costly for shareholders to get cash in the form of a share buyback than in the form of dividends;
To send out a positive signal, i.e. that management considers the company to be undervalued. Buying back shares and cancelling them increases the value of the remaining shares. Given the recent movements in some stocks, this can be a very strong incentive.
Leverage from debt, for the related tax benefits. This is not a very compelling motivation, as it overlooks the fact that debt and equity become riskier after a share buyback and thus more costly. The tax benefit is often illusory, especially as the company loses some financial flexibility. If share buybacks reduced WACC, companies would always be massively buying back their shares!
Building up a reserve of shares to be used later for stock option awards or as a currency for an acquisition.
Smoothing out share price fluctuations in the case of listed companies. But whatever is bought can be resold, and such buybacks, which are often in tiny doses, are tightly regulated by market authorities;
Creditor considerations: share buybacks reduce a company's solvency and thus increases its risk and diminishes the value of its debt. But as creditors can oppose a capital reduction, this reason is quite academic.'

Haha.. Yes and how many have SIS got through to date. Having talked to IF I'm sure you know there is zero possibility...
PXS sales of FF+O have nothing to do with DSM. It's a finished product produced by DSM which PXS purchases and on sells. FF raw material sales are the responsibility of DSM under the AA.
If is a nice guy but he has no marketing abilities whatsoever and has to rely on so called experts who he at one point ask me to talk directly to discuss my ideas. That I'm afraid was the last straw for me...knowing my background he also asked me for warehousing/logistics suggestions.. I gave him J&J...
I've always wanted PXS to do well.. Its a simple model and could have been much further ahead than it is right now at a fraction of the time and expense.

Sphinx... No idea really. During discussions I had in the past with IF regarding newsflow he would point to the cost of issuing an RNS. He's an Accountant not an MD and living on the other side of the World. He's completely the wrong person to take PXS forward... Always was and always will be. No updates Re China and FF+NO and new Distributors is totally unacceptable. Best to say nothing new than nothing at all. I don't speak to him any more as I think there is a total arrogance and distain towards shareholders from within the PXS camp.

PXS FF+O sales update
Jul 16 - Sep 16 £7,000 Actual
Oct 16 - Mar 17 £22,000 Actual
Apr 17 - Sep 17 £34,000 Actual
Oct 17 - Mar 18 £39,000 Actual
Apr 18 - Sep 18 £47,000 Actual
Oct 18 - Mar 19 £55,000 Estimated
Q1 Apr 19 - Jun 19 £47,000 Estimated
Total £251,000

Thanks everyone for your responses/theories...I wasn't actually thinking BMN would buy a tame sellers shares or even buy back shares to then put into the JSE Listing pot. I was just wondering whether our brokers would be looking to load up prior to listing hence my initial questions...Does anyone know if these timescales still apply?
'Mojapelo said he hoped to have the transaction completed by between the second and third quarters of this year.'

Does anyone know if these timescales still apply?
FEBRUARY 6, 2019 'CAPE TOWN (Reuters) - London-listed Bushveld Minerals, which has vanadium mines in South Africa, said on Tuesday it planned a to list on the Johannesburg Stock Exchange by the third quarter of this year.

Bushveld Minerals, which has vanadium operations in South African and coal operations in Madagascar, said the listing was not intended to raise capital but would allow investment from South Africa where its core business was located.

“If to do that it means that we participate in the secondary market or we do a placing is a decision we will make in due course,” chief executive Fortune Mojapelo told Reuters on the sidelines of an African mining conference.

Mojapelo said he hoped to have the transaction completed by between the second and third quarters of this year.'
https://af.reuters.com/article/investingNews/idAFKCN1PV0NC-OZABS

If they are not wishing to raise capital and don't opt for a Placing, then where are the shares going to come from in the Secondary market?...unless they can convince a tame seller to cough up some. Even at these prices, the likes of Yellow Dragon could make a killing on the 55m shares they received in the last acquisition deal at 9.06p.

Apologies if this is another blonde girly question, but like many on here, I'm just trying to get my little head around the face we appear to be in a holding pattern SP wise and what the end game might be.

Is it at all possible that any Battery orders from Eskom could be on a leased vanadium basis?
If so, would BMN/BE set up a separate Leasing arm to the company?

Apologies if this has already been muted/discussed.

PUBLIC EQUITY PARTNERS MANAGEMENT, L.P.
Disclosed positions in BUSHVELD MINERALS LTD (Total BMN shares in issue 1,119,057,953)
8 May 0.54% = 6,042,912
4 June 0.60% = 6,714,347 (+671,435)
7 June 0.71% = 7,945,311 (+1,230,964)
25 June unchanged.
https://shorttracker.co.uk/company/GG00B4TM3943/

REMX VANECK VECTORS RARE EARTH/STRATEGIC METALS ETF
BMN Holding as at:
30 May 19 19,280,491
31 May 19 22,345,311 (+ 3,064,820)
6 Jun 19 23,738,860 (+ 1,393,549)
10 Jun 19 23,320,660 ( - 418,200)
11 Jun 19 unchanged
12 Jun 19 unchanged
13 Jun 19 23,181,192 ( - 139,468)
17 Jun 19 23,041,696 ( - 139,496)
18 Jun 19 21,931,696 (- 1,110,000)
19 Jun 19 20,652,688 (- 1,279,008)
20 Jun 19 19,888,338 ( - 764,350)
21 Jun 19 18,039,471 (- 1,848,867)
24 Jun 19 4,989,471 (-13,050,000)
https://www.vaneck.com/etf/equity/remx/holdings/

hornedrum...REMX hasn't bought BMN they've just bought and sold some BMN shares.