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Incorrect:
o Convertible at the holder's option in two tranches of up to US$11.5 million each, after the first and second anniversary of Transaction Closure respectively, at a 5% discount to the prevailing 10-day volume weighted average Bushveld Minerals share price leading up to conversion;
Only 11.5M is due this year and only 50% of that in shares. Misunderstood isn't the word. Or misrepresented maybe. Whatever.
I disagree about gamblers psychology.
If I believed in this when I was buying at 8p years ago. And I believed in it when i was buying in the 30's. Then what has changed to stop me believing in it now? What has the company itself done for me to lose faith in the business? I am losing faith in their ability to protect me - for sure and that needs addressing. But I don't think long term that matters. I think the price now represents incredible value and when sentiment returns and the bounce happens it will be fierce (be that now, soon, post GS, post Duferco it doesn't really matter I'm not here for the short term)
I don't even look at my losses FWIW and maybe have a gamblers psychology around that, I'm not afraid to lose. But certainly not in terms of putting in more to recoup losses. I'm putting more in because I believe the money I put in now will be returned to me with large amounts of interest regardless of where and what my previous purchases have been!
I think Uksteveg raises a good point. I think we have a wider perception problem or we simply wouldn't be near to 10p.
Personally, as the share price drops lower I think it is more and more unfathomable that we won't find overwhelming support at certain levels. Seller or not Ukstseveg do you accept that there must be a minimum the share price can hit. Now that is obviously zero with Vametco, Vanchem, Mokopane, East London, and our share in IES and Enerox all reduced to zero.
However they clearly aren't worth zero so what do you Uksteveg think is the bottom this share price can hit? Less than 10p? 100M market cap? To me this seems like silliness and we are at or very close to the bottom. For sure. So I will continue to add when I can, thanks!
Me too Sammy I'm waaay overexposed here but am a big boy and am backing my own and others amazing research. The share price does not in any way reflect company progress. In fact, it does the opposite.
My frustration is as a long term holder but for new investors this is an amazing entry point now (IMO) and is (IMO) getting an unbelievable bargain. What an opportunity. So I keep adding because how can I not?
I'm increasingly frustrated at the share price that's for sure. Like, really, really frustrated. I want to scream at Chika as to why no defence of the share price is taking place in light of the incoming Duferco payment. There simply must be something the company can do to attempt to protect shareholder value and they simply aren't doing it.
But as this is clearly the time for doublethink in relation to Covid, I am also storing up spare cash and will be ploughing it in here very soon as I truly love the companies prospects and work, and will almost certainly be giving the company many thanks for allowing me to add so low in the future.
The short term pain will be worth it for the long term gain I am convinced of this, but I'm not at all happy with the short term pain. 125M market cap is utterly insane.
What on earth has an airline got to do with a world bank funded energy storage project to help rescue Eskom? Please, if you can explain this to me to help guide my decision whether to add more here it would be welcomed. And I mean that sincerely.
Cos it looks like your message was ... act smug, talk rubbish ... but I am prepared to be wrong!
"You do not need to be a genius to see that Fortune and Mikhail are building one of the most important industries in South Africa and may well become a key player in the Energy Transition globally."
Amen to that!
I also previously put out there a guess that we may partner with Rongke for this. I think Range is just auto-correct doing it's thing? Personally I don't really care who we partner with as long as we land a good portion of the contracts. Any contract wins will push VRFBs forward and will help our partners to get sales and build around the world.
We are finally on the starting blocks for a huge kick off and here we are sat at just over 11p WTF. I am also holding a small amount of cash. I promised myself I was up to my limit here but the current price is just ridiculous so I will be buying a few more within the next few days, Once the seller goes and contracts land and Covid goes into the background I am very hopeful for the SP!
Anyone selling or who can't see that I wish the very best of luck finding something more promising elsewhere.
@sammy I also emailed and let fly about my frustration regarding communications. The next day we get a tweet publishing a video that was made many days ago and and an rns explaining the share situation. I dont think I should apologise though, I think the company should be more accountable to us as shareholders. Together we own a far greater share of the company than any current ii and, in the main, our goals are very firmly aligned.
Strange timing as it becomes a discussion point on here that golden summit may be involved, and as frustration mounts that all this should happen though.
I believe in the company. My goodness me we have enormous potential. I believe in fortune. He seems an honest, determined and trustworthy individual. And I believe he fosters a culture we should all be proud of.
But we should never be apologising for expecting the company to be held accountable for protecting our interest.
I am very glad we now understand the situation, and it is finite, and that others can see the end and will join in accelerating its conclusion. But still ... more tweets, more keeping us up to date and more promotion should be the expectation and the norm. If we all joined together and created a single shareholders association we would dwarf any 6% holding and the company should remember that, imo.
Dunno, you said you'd done the analysis and we got told YD moved shares to Orange Trust I thought so I wondered if you had seen an upward movement in Orange Trust numbers as YD reduced, but it seems not. Which is interesting (to me at least).
I agree and have emailed Chika again to mention this. I very nearly went through and took a load of quotes from this thread as this isn't trolls this is long term committed holders who the company have a duty to look after. We own the company after all. Chka assured me last time that they were committed to providing long term shareholder value and I firmly believe they are. People buying in now are getting a really good deal. But they should be paying much more attention to the short term as well.
And it's clearly not all the companies fault. Covid and South Africa generally don't help. But there should be more tweets and more minor update. Here we are breaking ground at East London Electrolyte. Contract awarded to X for X to do with the battery. We just get so little engagement. I'm all for under promise and over deliver but that doesn't mean silence and the occasional tweet.
I'm also all for driving institutional investors on board but that doesn't mean failing to engage with a large PI base is OK. Anyway, as I said, I have emailed Chika my concerns and I suggest we all do so as it may help get something done if we are unhappy about it.
I don't blame you, might be sensible, and have hovered over the sell button for a small portion every time we get near 15p, expecting the repeat (and making it a self fulfilling prophecy). I could defo have increased my holding by a fair bit every time it drops. But one time it will not drop - it will fly up, and I would be seriously kicking myself after waiting this long if I missed that. So I add when it drops and when i can and I wait.
It is staggering to me the effort that is being gone to to keep this down here. I'd really love to know who or what is responsible.
16-Sep-20 09:33:44 12.75 -100,000 Buy* 12.00 12.50 -12.75k O
16-Sep-20 08:44:25 12.705 500,000 Buy* 12.00 12.50 63.53k O
16-Sep-20 09:57:06 12.60 -150,000 Buy* 12.00 12.50 -18.90k O
16-Sep-20 08:44:25 12.75 -250,000 Buy* 12.00 12.50 -31.88k O
I don't understand this at all. Maybe it's normal for a 250k transaction right on the mid at the time to be done and then reversed in the exact same moment someone sells 500k shares. Inter MM transfers that then get written off? Printing shares that don't exist to sell to buy back later? I am clueless.
However, I am fortunate as I have time to wait just now, and have enough disposable income to add a few shares at bargain prices every month so I have more shares than I ever thought I would.
The company is making excellent progress, with great leadership, (and poor comms - come on guys promote and get us off this awful market and on to the FTSE!) and we have a fantastic amount of things to be excited and confident about for the future.
Also popped up on my google finance page. Don't understand the quality of the science but it's very exciting to see so many articles mentioning VRFBs and it is clear to me that the technology is continuing to improve at the same time as they become more affordable (thanks in no small part to BMN/BE).
Gotta admit I don't actually know how to filter :/ do need to learn.
But I hope anyone on the fence is no longer under any illusions as to what kind of character we are dealing with here. Contradictions galore. Just awful. Everyone is of course entitled to their opinion.
Be careful Bushy100 that sort of talk comes across as someone underwater and desperate to prop up the share price (really sorry I couldn't resist it).
I agree 100%. I've never filtered anyone before as I really do like hearing opposing views. But clearly this isn't an opposing view thing, it's behaviour I very much struggle to tolerate in people, so I should filter and try (ever so hard) to do the right thing for the rest of you! If everyone else does the same so I don't have to read your responses that would be super helpful also, thanks :)
Oh and
Wow thats amazing knuttie. I actually wrote a really long post but you summed it up perfectly. I was all ready to post but know deep down it won't make a difference
Here brgmg69 is riding in on his white horse to tell us all how us well researched long term holder underwater folks come across so so desperate but his constant ramping as a new investor doesn't look like a trader after a few percent at all? You know, like playing devils advocate for a moment.
"i have politely pointed out thats some on here are doing a fabulous company a huge disservice."
Thanks your majesty. We shall not be positive about the companies prospects again thanks to your information about how we all come across.
"If however you read my comment again before hammering your keyboard.
Have a re-read as it might make you understand the second time around .
I really don't mean to come across as condescending"
Come on man either you are trolling or your head is so far up your own arse you don't even know what you are saying. I favour knutties assessment of you is 100% bang on the money.
Especially when they come in acting like an arrogant nonce belittling other people (and I don't just mean todays posts at all). That doesn't help. But then when people behave like that its never them that's the problem, its bitter other people.