The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
With respect to Chika, as most of the markets have rebounded BMN has fallen much further still, on zero basis. And these huge printed sells are not the result of PI's selling. There is more going on here than retail investment and stop losses.
Except they aren't really falling all that much. Around $27 currently. It was as low as $20 end of last year. And when the V prices did rise almost 50% in 3 months after having been dragged down with them did we see any accretion in bmn share value? No. So there is absolutely no reason to drop it further on the basis of V prices even returning to $20, which they haven't.
Yes it would be. I'm not sure what the current rules are, only that I had read that at some point. FM has in the past said that a move to the main market needs to be at the right time and when it makes sense. Being part of a dual listing on JSE would be an ideal time for it, whilst you are gathering required documentation anyway, and it would make sense to do it then.
The day when we are off Aim cannot come soon enough. Would be great to have serious investors who actually look at the real company value. Looking forward to news of the JSE listing and, by extension, moving off aim onto the main market.
I agree! My frustration with the market is what is the point in having valuable assets if they have no impact or representation in the sp? On that merit you may as well have all companies share prices have nothing to do with the companies themselves, the market makers should just pick a random number that is nothing to do with the value of the company it represents. Bushveld Energy on its own is valued at 8.8p, though of course that is most likely going to grow over the coming year.
Fair enough with the Ebidta, though we will have to wait for the FY report to see how the breakdown of expenses affects the bottom line and therefor the full year eps.
However my point regarding the fact that the current sp is only 2.8p above what the broker values BMN's other assets, completely disregarding any vanadium mining operations or profit, still stands. So the market is technically, currently valuing its mining business at 2.8p.
For a basic idea of how undervalued BMN currently is.... Going by the numbers in the H1 report, the eps was 1.92 cents. So if we doubled that to 3.84 for the year. Convert it into pence with current exchange rates and its about 3p.
You can apply whatever PE ratio you wish, but even on a PE ratio of 9 that takes it to 27p. At 12 it's 36, and at 15 it's 45.
That doesn't include any value at all for BE, Lemur, ATM and other upcoming company investments which have so far been valued by spangel to be worth 14.2p.
Just think about that, the value of BMN's business without any of the Vanadium mining operations is worth only 2.8p less than the current share price!! That is absolute insanity in terms of market value.
So whichever PE ratio you wish to ascribe, add 14.2p to it, and you should arrive at something near true value. However this of course isn't taking into account future production growth, which is growing by at least 30% over the coming year, and progress with Bushveld Energy in terms of potential contracts.
It wasn't a loaded question, genuinely wondered what update was expected.
Q1 isn't over yet, so won't be out until April at the very earliest.
As for the rest, the company can only update once due diligence has been done and the deals can progress. It's better that they really know what they are getting and take their time, rather than rush it and end up with something that they didn't expect. However these updates could of course land at any time.
FY19 report will be out at some point in H1 also, which at these sp prices is going to look like the holy grail.
And then the bloody adverts expand and fill up the edges of your phone till you can't click anywhere. All designed to intentionally catch you out and trick you into clicking something you don't want to click. I'd say that that was skirting a fine line with consent and advertisement there.
There were multiple placees as part of the 150m. Who out of them might be disposing of shares, and how many they have actually disposed of, would be near impossible to know. There has been very recurrant selling behaviour throughout the course of 2019, that has continued this year so far too. How many of those sells can be attributed to a tame seller again very hard to know. All I know is that it can't and won't last forever.
I cant see BMN holding onto Lemur beyond this year. Next year is when BE will really come into its own, producing and selling electrolyte and possibly deploying battery systems. Lemur doesn't fit with the green investor credentials. They know it doesn't fit either, it was left out of the Q4 report for a reason. I imagine they would like to have it off their books so that they can really run with the Vanadium/renewable/green energy side of things and not have that lump in the corner of the room that someone every now and again remembers and points to.
Having said that, I would like to see some value returned to shareholders, whatever becomes of it, as it is shareholders who have supported its development.