Member Info for Bummerd

To get back on this suggestion: why doesn't Bushveld buy the remaining GS shares (and give them to Duferco)?

I think you'll be late if you come back in six months. Seller will be done in 8 to 10 weeks. 30, 29,5, 29, tick/tock.

Yes, 'Range' where it has to be 'Rongke'. That typo has been mentioned before.

Interesting thread from BBN about the criteria for the Eskom tenders. A joint venture with invinity/Enerox would not meet the requirements. Bushveld would need to team up with another company, like Rongke.

https://twitter.com/BigBiteNow/status/1308701289421910017

If GS is selling their remaining shares, say 30 million, the way they have done until now (2 or 3 million every week), then this would take another 2,5 months, with everything else staying the same. Which we don't know.

To be complete: Duferco could convert 11,5 million into shares this year, unless Bushveld decides to pay half of the 11,5 million in cash. Then 5,75 milllion would remain for Duferco to be converted into shares. Sorry for confusing things, as this has been discussed already earlier this month.

Total consideration has been revised from US$68 million to US$53.5 million, payable as follows:

· US$30 million in cash (which includes the US$6.8 million deposit paid into an escrow account on 1 May 2019) payable on Transaction Closure.

· An additional payment of US$23.0 million to be satisfied through the issue on Transaction Closure of Bushveld Minerals unsecured convertible loan notes ("Loan Notes") with the following repayment, redemption and conversion terms (in addition to customary covenants, warranties and acceleration provisions):

o Interest at a coupon of 5% per annum payable annually in arrears or on conversion or redemption;

o Repayable in cash after the second anniversary of Transaction Closure, plus any accrued interest;

o Convertible at the holder's option in two tranches of up to US$11.5 million each, after the first and second anniversary of Transaction Closure respectively, at a 5% discount to the prevailing 10-day volume weighted average Bushveld Minerals share price leading up to conversion;

o Early redemption of the Loan Notes at the election of Bushveld Minerals, subject to the condition that the holder will have an option of converting up to 50% of the early redemption amounts into Bushveld Minerals shares on the same terms set out above;

o Scope for acceleration of redemption of up to US$5 million of the Loan Notes 12 months after Transaction Closure if an average ferrovanadium price of $40/kgV is realised during any nine-month period during the12 month period after Transaction Closure;

o Obligation to repay an amount equal to 40% of any cash received on a new share issue which raises more than US$30m, provided no more than 50% of the Loan Notes have already been paid, redeemed or converted;

o Obligation to repay an amount equal to 50% of any debt raised over US$15 million, provided no more than 50% of the Loan Notes have been repaid, redeemed or converted;

o Obligation to repay on a substantial sale of assets or change of control;

o The holder will not be able to divest any Bushveld Minerals shares received for six months following conversion and be subject to an orderly market arrangement for the following six months.

Yes, 11,5 million this year. And I understood Duferco can choose to convert half of that into shares, so 5,75 million pounds.

46. Still a fail, but you get the idea. Good night, yá''ll

It has to be 46 million shares: half of 11,5 = 5,75 x 8 (shares per P, SP 12,5p) = 44 million. With a much lower SP Duferco could take a much larger part of BMN.

and 12,5 instead of 12,4. Sleep tight

It's 5,75

BMN has to deliver on the outstanding amount of 23 million GBP. On the 22th of October Duferco is allowed to convert half of the amount (11,5 million pounds) to shares, for 50% of that half. Which makes 5,5 million times a SP of 12,4 = 44 million shares.

GS could keep the price low until after the expiration of the loan notes. So what's in for them? Duferco can claim about 44 miljoen shares at a price of 12,5p (if that would be the medium price during the last ten days before 22nd of October). About 4% of the company. With Eskom still to arrive.

GS had 5,8%, almost 67 million shares sold down to 2,93%, 34,4 million shares, 11th of September. GS possessed 49,9 million shares at the AGM. It sold half of it's shares in the range 12 -14, say 13: 32,6 million x 13p = 4,24 million

GS has still around 30 million shares to keep the SP down. And will perhaps need some selling-power in the last 10 days. What if GS could bring back the price to 5p? Duferco could obtain 110 million shares, 10%, of BMN. So there I am just schizzo, or what?

It won't go much lower than this, as the seller/GS seems unwilling to sell below 12p. Two to three months and the SP will be out of the woods, still some time to top up.

Haven't seen 500k sells today. ;-)

I think you're correct. Last week there were also 500k sells, so I believe GS will sell them all.

Never mind, sorry. For once I forgot the base that will make this thing fly. Keep on tight as value will be recognised.

Could we have a more private chat about smoking out the rat in our stock?

https://www.vanadiumcorp.com/news/industry/flow-battery-capabilities-and-performance-part-1-of-2/

1 million buy after market? The problem with Bushveld - with it's 6 million trades per day - is that it can be manipulated very easily. So isn't it just shorters? With, say, 10 million shares you fall below 0,5%. And you can play a game of sell, and buy back cheaper. Or is there more to it?