Member Info for Daisydog

Interested . You, of course, asserted all the time that Duferco were in it for the long run. FM told us all that the placing was oversubscribed last time, suggesting that they discounted the offer too much and then chose the wrong people to place them with. I'd like to hear your reasoned argument for why that's wrong?

Agree Gambit.......except those that have authorised the continuing sell downs who think selling for 15-17p is a fair price for their shares....boy oh boy did FM misread their intentions when the shares were placed in their hands.

On 25 Feb 2021 SP closed at over 18.25p. In the intervening period the commodity we sell is up at least (average)of 10%. The SP is down near 15% at 15.75p today. Some disconnect that has to reverse soon.

SG. Dont understand why you are highlighting this from April 2016 - over five years ago? Especially when there has been so little progress on this front in the intervening period? Do you have a new angle on it? Regards DD

Don't understand why BMN didn't share this information when ATM have done so openly.

FM deffo not ASD. Previous videos of him completely normal social interaction

Vauch, that really is a ridiculous thing to say. Sustained increases in V price will shake the SP out of its torpor.

Sanchez, you should send that to Chika for attention of BOD.

I can see why FM seems downbeat, because it sort of reflects how I feel too. I had profitability wrong last year - I still thought as a bottom quartile cost producer we would be quite profitable, but it may have been tight last year. And he and MN have little truly positive in the VRFB space to show for all their efforts. We are still just a miner as far as the market is concerned.

Assuming 7 day working, the loss of 35 days in a quarter leaves 55 days in Q1. This divided into 90 days multiplied by 688 estimates full quarter production at 1125 mtv. So, at 4500 annually on Q1 extrapolation. Good, however you spin it if my maths is correct? Vanchem doing well as well and 100% owned.

...Mogwhy....unless its put back again. And its just close of bids- not award of contracts. On the initial schedule we would have been just a few months from completion of construction....

PD. At one level really good to hear oversubscribed. At another, it suggests they overdiscounted them doesn't it? My worry is that parent co. BMN had a similarly "over subscribed" placing a while ago. Didn't stop them selling as soon as it was allowed which kept the SP down for months. Anyone explain to me in simple terms why you can't just get a loan with interest payments as you stay in control?

Gambit, I'm very keen to see it, but what do you base this expectation on - the points you note aren't really pointers to news. Radio silence is BMNs (much lamented) modus operandi?

From RNS of Nov 19 Jagadish
A right of first refusal to supply vanadium, vanadium electrolyte and vanadium as a rental to the merged entity for two years and thereafter subject inter alia to Bushveld continuing to beneficially own at least 5 per cent of the merged entity;
So, already 18 months through the agreed period and we no longer have 5% of stock. But youd hope IES would have long memories of how BMN helped their birth!!

Glenmore also a potential suitor. Seem reluctant to commit to the costs of greenfield development for ZIOC. So, a brownfield venture works for me. ;-)

I'd be AMAZED if FM isn't looking to JVs with this resource at the current prices. Chinese are desperate for iron ore. Just bought Simandou to develop and have a major political spat with Australia ( biggest supplier of ore to China) . I follow ZIOC too and the speculation for years has been the Chinese will buy and develop this too. But BMNs links with China through V sales make a tie up with them highly likely in my opinion.

Huge. We signed an MOU with CREC years ago if memory serves me as cant locate it quickly in RNSs.

RNS 2014: Bushveld Minerals (BMN) has had successful results from the first aspect of its scoping study, which focuses on using smelting for the beneficiation of the Main Magnetite MML layer in the Limpopo Province in South Africa. Using the smelting process, which aims to produce pig iron or steel and high-grade vanadium ****, Bushveld has found that around 370kg of pig iron and 35kg of premium-grade venadium can be produced from every tonne of main magnetite MML layer processed at the Bushveld Vanadium project. Pre-reduction of the ore can significantly reduce the energy required for smelting and cut operational expenditure. "We are fortunate to have two proven processing route options for the MML Deposit, both of which are currently being used on the Bushveld Complex," said chief executive Fortune Mojapelo. "The Scoping Study currently underway will assist us in determining which route is optimal. We are pleased that modelling on the smelting route has yielded the positive results reported today, and we look forward to providing results on the salt roast processing route and completing the Scoping Study on this world class deposit," he added. The process involves smelting pre-reduced ore and then recovering the high-grade **** from prig iron in a converter operation. Both options are proven concepts used by major producers globally, added Bushveld. The second aspect of the scoping study will focus on the efficacy of the salt roast process, which will produce venadium pentoxide flakes and or ferrovanadium. Despite what one user on the Interactive Investor discussion board thought was "a good RNS"

Pretty much summarises my position too Somtam. Except 8 years . And at break even having bought all the way up.

...or lack of....I cannot help but feel that the BE element has stalled big time. As have other " priority" aims eg JSE listing. And in my view the company needs to advise investors what it is doing and whether there have been new priorities identified. If no JSE, why not - and what is the plan now. If Eskom drags on with further delays, what alternative commercial arrangements are being pursued? You cannot simply sit and wait. Id also like to see the FORMAL dividend policy set out. I accept there should be investment first of course, but investors deserve to understand WHEN any spare profit might be paid out. You could do that now by saying a fixed ( small) amount would be paid as dividend. JMO.