Member Info for fatbanker

only a small buy today because I wasn't prepared for further buying but to get some more at 2265 is very welcome. gla

https://www.lse.co.uk/ShareChart.asp?chart=intraday&sharechart=BMN&share=Bushveld-Minerals

https://www.bloomberg.com/press-releases/2019-11-04/iiroc-trading-halt-cube

suspended

the obvious structure for leasing is to employ a vendor leasing model where a jv between BE/bmn and a major leasing company write leasing business with battery owners who are going to rent and use product from bushveld. Now we are likely to be tied up with Avalon, based in Toronto, the probability in my mind is BMO leasing might be the leasing service provider.

bmn could probably write a few deal on balance sheet but any more than that would be a risk of creating an exposure which requires too much in house resource. on balance sheet deals can be moved to the JV structure after set up if desired.

the JV parties would share the profits and the risk.

great news today. taking a step back and looking at recent changes-
1. YD opted to take a shareholding in BMN rather than its subsidiary, being an inner circle investor.
2. Nedbank stumped up 25 mill usd of rand denominated facilities, having seen bmn business plan
3. vanchem purchase price renegotiated downwards due to flatter V market
4. cash contribution to vanchem deal reduced to free up cash resources
5. cash invested into vrfb company on very strong terms, from bmn perspective. u wont see 20% commitment fee convertible to shares very often.
6. further outward investment signalled.
7. bmn added to mvis remx index
8. vaneck taken a $17m long exposure on bmn.

the common theme of all of these developments is entities who are privy to more info on bmn than we are are making calls based on their informed view of the strengths of the bmn proposition. very encouraging IMO.
GLA

very often the tender is drawn up with a specific contractor in mind using timescales and equipment specs that only the preferred bidder can deliver. given that the IDC will want to use a SA outfit if at all possible, and they have stipulated a compulsory site visit in advance, its not much of a stretch of the imagination to believe a preferred SA bidder to the tender has been identified and is on the case.

the security is standard for a facility of this size and type and should cause no investor any concern. the raising of cash capital like this is a good indicator of the health of the company viewed by a professional bank. the vast majority of aim companies can only dream of making such a move. what you should be asking yourself is why borrow in rand when existing income is in USD. call me old fashioned but I think FM and MN are about to pull another strategic rabbit from the hat.gla

https://www.mvis-indices.com/indices/hard-asset/mvis-global-rare-earth-strategic-metals/components

https://www.vaneck.com/etf/equity/remx/holdings/

https://tradingdemystified.blogspot.com/2010/03/voting-rights-on-shares-sold-short.html

nah not today. gla

hi knuttie. found some cash in the breadbin. gla

https://www.brighterir.com/

and of course a discounted buy in and £3m in cash.

nickel - you make the assumption that yd will dispose or assist the shorters. I don't believe they will. they currently have a short term income stream from a subsidiary company shareholding and I believe they are simply opting for a long term appreciation of the bmn sp, driven by increased volume, electrolyte and Chinese secondary vanadium production fading.

https://www.mvis-indices.com/indices/hard-asset/mvis-global-rare-earth-strategic-metals/components

I think YD have been persuaded to move from a time limited profit share arrangement to now be LTH and in line for divis as and when, plus long term growth. gla

1. department advises bmn right granted
2. knowing this, bmn can safely arrange the vendor loan to the receiving shareholders and arrange for the shareholder amendments to be made.
3. once the dept see this has been done the mining right is ratified and made absolute

for clarification of the rns read the penultimate sentence of fortunes comments at the foot of the rns.gla

following on from my post this morning I am delighted with this first of many rises in SP on my return to France. never fails. the market hasn't yet had time to respond fully. gla