It certainly has been slow .. but as the mini-grid demonstrated, there has been little hard data to support the up front capex calculations (was very similar in the early Lithium days).
The hybrid Oxford Hub is working well, I expect after a few months operation our mini-grid will have demonstrated much .... IES had lost of problems a year ago, but now a stead and growing pipeline of actual commissions, Cellcube the same
Just needs more data (and some political will to outlaw Lithium in some situations perhaps)
rankly though, here, the problem is stable and growing mining operations... it has always been that but the company had too many spinning plates and none of them firm and stable
Ha ha ...
AV is not leaving ATM and has his hands totally full
MN - what has he ever delivered (aside from the same slide set) ?
FM - good vision and early strategy, but not able to get the plants operating consistently or with cost stability
Oh aye .. I can see IES (who by the way won't go cash generative for another year) making a bid .. with what .. unless it is the Cellcube shares !.. but who will finance them, and if they would, why would they not directly finance BMN and take a bigger slice ... makes no sense
@Harchris - Don't recall the March one, but in ARC's April post they had the text below:
Given that production looks to be a bit lower than their mid point estimate, and costs have been up a bit (offset a lot by the Rand falling) their figures are broadly in line on a positive spin, but really a bit weaker (so a 9-12p range). Of course this excludes the value of the Enerox/Cellcube holdings
We currently trade at a substantial discount to fire-sale NAV .... but that is AIM all over - only takes a bit of the spotlight and boom !
"Estimates and valuation unchanged: With annual production and cost guidance maintained, our 2023 estimates (which assume around the mid-point of Bushveld’s guidance range) are similarly unchanged. We continue to expect year-on-year earnings growth in 2023, though we will closely monitor the progress of Vametco and Vanchem and movements in the vanadium market as the year progresses (our estimates assume a flat US$40/kg FeV price, broadly in line with the year-to-date market average). Given the relatively high fixed component of its cost base, Bushveld’s ambition to expand production in stages to 5,000-5,400t pa over the medium term and to c.8,000t pa over the longer term (initiatives it will only sanction once near-term targets are achieved and funding secured) would widen margins further. An expansion would increase our NPV estimate by c.60% – our 12p/sh valuation (diluted for assumed refinancing of US$35m of group convertible debt due in November) includes just 0.5x of this incremental uplift, reflecting uncertainty over timing, funding and opex structure. As with our estimates, our 12p risk-weighted and dilution-adjusted valuation is highly levered to vanadium price, but also to the eventual structure of any refinancing of Bushveld’s maturing convertible debt."
Orion were well aware of the terms of the Mustang arrangements, and frankly cannot be that bothered given the assets just acquired. It seemed a very high probability months ago that MIST would collapse given how long they had taken
This article makes a number of very good points ... especially around timescales and bottlenecks
https://www.bestmag.co.uk/a-growing-understanding-of-how-the-flow-battery-industry-needs-to-change/
Just beware folks .. have a look at @SB2023 on BMN ... started the same way (I am new and keen to learn) and has managed to unify a fractured forum against him/her/it/they/them/( .. whatever)
I wont post again - know nothing about this company .. just sharing the troll-love !!
Good Luck all
Last post by Paludina ...
https://twitter.com/Paludina/status/1663967852783714305
I see SB has replied to my post, I guess so with the green so had a look.. and lo and behold .. a new post to ONDO this morning.....
Sound familiar anyone ... ?
"Hi All, I have taken a small position here a few weeks ago now. Seems a great company, with lots of upside. Keen to learn as much as I Can"
I think it must be a mental disease .... !!!
No Zaskar ... given the stream of green, I am guessing SB has passed the 'I am an ignorant newbie please tell me more' phase and is now in the 'you are all a bunch of numpties who post loads of guff' phase .. while building up a cred based on 100's of insult posts and crying.
As I said, I don't read any more - I have a long filter list .. I suggest people do the same