RE: Conversation11 Mar 2020 14:59
Had an email reply from Chika, see below
Dear Mr ****,
Thank you for your email.
The recent volatility in the Bushveld share price has been experienced by all listed natural resources stocks, which is mainly due to the outbreak of the Coronavirus and its implications for slower global economic growth. This was further exacerbated by the oil price collapse on Monday, which affected markets around the world. Nevertheless, the vanadium market fundamentals remain attractive with demand anchored to the use of vanadium in the steel industry and upside from VRFBs, and constrained and concentrated supply. The Company’s strategy remains unchanged, and that is to steadily execute its near and medium term mandate and meet its production and cost targets. The Board and Management are continually evaluating the best options for its shareholders.
We believe that the market and share price will eventually normalise and correct. Speaking to the traders it seems most of the selling is from retail investors and stop losses coming into effect.
Kind regards,
Chika