The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
It's not a very user friendly site to be sure! I'll try to explain as best I can.
If you start at the homepage, click on "My Euroclear". On the login page click, "access as a guest" below where the login lines are. This should automatically log you in as a guest without you needing to input anything. Once done, click on the tab "Monthly stock loan data". One the left is a drop down menu to select the month you wish to check. So you know, they only show info for the current month during the following month. BMN is listed on page 4 of the results.
I would imagine that in order to list on a new exchange a certain amount of clarity and certainty would be needed as to the current situation of the business. If they were in the process of an acquisition and debt financing, that would not be possible. Regarding your question of why they announced the JSE listing whilst also pursuing the Vanchem acquisition, I wonder if the reduction in V prices had a play in this? It could be that Fortune targeted Vanchem more aggressively considering where V prices were at the time and where they are forecast to go.
II's in SA I'm sure are looking for a stable, well managed SA business with real growth prospects. BMN offer that in spades in a way I don't believe any other company in SA can. I don't imagine that this delay is coming from them.
Of course SA politics is in turmoil, when has it not been in the past couple of decades? More pertinent is where the direction is heading. Ramaphosa is a step forward, in my opinion, especially after the awful period under Zuma. What is it exactly that you wish to debate about this topic Lindon? Yes, it's an issue. I'm not quite sure what else there is to add.
Thank you for your thoughts. The wording in my previous post was also not very good. I didn't mean to imply that you believed the current sp was a fair value, I know that that isn't your belief.
It will be interesting to see how this all plays out over the next few months and as the details begin to emerge. BMN taking on debt will be no bad thing but it will be good to know how much. I have read that having zero debt on a balance sheet can actually put II's off. Is this this true? Is it a bit like trying to improve your credit rating where you have to get a credit card and then pay it off well in order to have a higher score? Where as if you had never had debt it would be marked against you.
I'll clarify Coffeecups that I actually have nothing against those who are traders, those who buy and sell at various times for various reasons. What people do with their money is their own business. What I do mind is when traders come on BB's and try to influence sentiment for their own gain. That is different.
BBN, I agree that it is healthy! I've always enjoyed debates, and am often confused when people interpret it as bickering. I would argue that BMN is doing plenty to prove to the market that it is more than simply its current profits. The Vanchem acquisition alone will unlock the growth to 8,400 mtv per year, which is substantially north or where we are today. Again, its not over the dotted line yet, but the sp has fallen by 15% even since that announcement. Your perspective here is good and healthy, it's long term and it's what is necessary. However I still don't agree that the market has valued BMN in anyway appropriately yet.
I agree that hate was a strong word. Disdain may have been a better one. I am simply making observations CC. And yes, you have rubbed me the wrong way many times over the past year in relation to BMN. You accuse others of trading BMn but from the constantly shifting tone of your own posts, which have generally always negative the past 6 months, it is my opinion (and my opinion only) that you are either attempting to trade this share or that you are simply a troll. It doesn't really matter though as I'm sure you do not hold my opinion in the slightest regard.
BBN, a question regarding your comment on the current valuation of BMN. I make it that BMN is currently trading at around a PE of 6 based on profits from FY18. Even as a junior minor that is on the low side. The rub of it is that BMN is now no longer only a junior minor. They are very quickly becoming an entirely new kind of business that should be trading on a growth tech stock PE ratio, which are usually closer to 25. Of course you can argue that that transition has not yet been fully realised. But with all that it in the pipeline, as opposed to only what current profits are at play, which is what a share price is supposed to reflect, a PE of 6 for BMN is damn low. Even a modest PE of 11 would take us to 39p.
That didnt take long for fanadium to do a youturn. We tried to be kind and welcoming, to give the benefit of the doubt. Next market day later its, oh how i feel for those who bought in at 40p... down again.... comments. Typical troll fair. Go waste your time on another bb. This one will eat you for breakfast.
Having attempted transcription in the past I can only say I am in awe. Thank you Pdub.
I notice that they use the words and tense, "We are building a commercial mini grid at our own mine and that's solar and storage combined" and "Our electrolyte plant that we are building in East London which will produce enough electrolyte for about 200 MWH per annum."
They are currently building, they are not going to build, or planning to build.
They just about scratch ahead of mokopane in terms of size, maybe I should have said it was ine of the largest.
Crucially the speewah deposit only has between 0.29 - 0.33% v205. Mokopane has 0.7 - 1.48%. Quite the difference.
The mokopane resource is the largest in the world outside China and can support production expansion beyond 10,000 mtv per year. Ironveld is in no way even on BMN's radar, not does it need to be. Prod is currently to be 2800 - 2900 mtv per year, captial is being used to expand that to 8,400 - 10,000 mtv per year over the next 3 - 5 years. No where in this plan or beyond would it be necessary to acquire Ironveld.