Member Info for cautionyourblast

Hi OH
I tend to agree with you. It’s interesting to re-read the chairman’s comment on in the windfall dividend paragraph of the FY2020 financials. A number of us are quoted, including yours truly (a number of times!)
Best wishes
CYB

Well today’s move hurt me! Perhaps I’m alone in that. I still hold and will still continue to hold barring changes in fundamentals: it’s undervalued. It’d take quite a few days to unwind my position. But I do have a sore head from today’s move. Still ouch.

Excellent point, Soder: thank you. USD20m upfront to Accugas. Drops my cash flow from operations to USD55m. I’m hoping that will go up as other customers are brought in, but also aware that more extensive capex will suppress it...building for longer-term success.
Best wishes
CYB

...that hurt.

“...wasn’t any” not “was any”. Of course.

This is a bit of guesswork without the full 2020 financials in front of me, but...
They’ve reduced net debt by about USD75m using cash from operations (after the USD13m capex spend too). So that *looks* like free cash flow of USD75m on a company valued at USD200m. I’ve reached this conclusion because there was any new debt or equity issued during the year. There may be schoolboy errors in my assumptions: please feel free to add constructive comments. Still trades at a discount to book value too.
The technical term of the current valuation is “bonkers”, IMO.
DYOR and best wishes to all,

...and stuttering, apparently...

I used to be a director of some Cayman entities....so you’ve ca youve caught me red-handed!

Hi Bismarck
The topco entity is Bermudan, I believe: it’s probably buried somewhere in the glossy. There was no withholding on the last div as far as I recall.

On the basis that SLP posts the same profit after tax in Qs 2, 3 and 4 as in Q1, I still make the cash-adjusted PE at FY2021 year end, based on a price of 117 pence to be just under 4. I continue to hold. DYOR and best wishes, all

Do any of you Bushie experts know where we can find the latest on the Dalian ubermachine? It’s all gone rather quiet on that front and its success should be a key flag-bearer for the VRFB cause. Thank you.

Sorry for your loss, TanzanianDevil. Your mum will have taken great comfort from having you around and in her bubble since she was widowed. Glad she’s jabbed; hope my parents will be imminently.

Then we can all start enjoying life again...

Agreed, rivaldo. Virtually all buys as reported too.
It’d be nice if the spread were a bit tighter; I think it might attract a few more into the fold.

I’m in for the long-term here based on my current knowledge.

...maybe you’ll get a result where I failed...I hope so.

Thanks, Libero
I told them this some months ago and they said that it’s not them, it’s their data provider. I suggested that they inform their data provider of the issue. Aaaand...well, you can guess the rest.

Thanks for the nice, and witty, reply John! You’re clearly serious about your research which is admirable.
I think Soraya and Lars are keen to pay themselves through dividends rather than big remuneration packages. This is great alignment with the minority shareholders, of course.
There has clearly been a recent drive to improve profile in the investment market (social media, vids, etc.) I’m not sure if this is an attempt to attract institutional investors for expansion capital or PR to increase profile and potential client base, or both. I do suspect the goal of Soraya and Lars may be to sell down a chunk of their position in the future and eventually “succession plan” themselves out. I could be completely wrong, of course and I do not think there is anything wrong if this is their plan: good for them. I like this company and think it could significantly re-rate...but multiple returns are probably unlikely. My least favourite current observation is the growth of fixed assets: I suppose it goes with the territory when new geographies are being exploited and grown.
All the best!

Hi Libero
I'm grateful for your efforts to make sure things are optimally described. I've no particular issue with the description of BMN on Stockopedia. However, if one looks at the sector categories up at the top left of the Stocko page for Bushveld it says "Browse>Shares>Energy>Uranium>Bushveld Minerals". Not the best sector category, as I'm sure you'll agree,

Still, at least U and V are next to each other in the alphabet...

Cheers and enjoy the breather over the weekend.

It's still listed at Stockopedia as a Uranium stock. I've told them but it seemed that getting it fixed was either beyond their pay scale or intellect.

Hi John
The PIworld video attached below is well worth watching. Also my high level notes about half a dozen posts below yours may prove useful: some thoughts which aren't immediately obvious from the financials.
Cheers

I agree: well done PIworld. You let them explain without getting in the way.
I think Soraya in particular is extremely impressive here.