Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I sold my GGP shares at 0.69 3 years ago so missed out on a multiple I don't even want to think about. I was sad when they hit 2.4 after I sold but now ... closing in on 30x wow. I am actually amazingly good at selling out of companies before amazing rises. Would have made a fair bit if I'd stayed in PHE as well, for example. So clearly my view point should be taken with a large grain of salt. However I firmly believe and expect similar rises here and I would be far too terrified to sell any and miss out on the start of any rise.
It wasn’t hinted at it was quite explicit, as I’m sure it would be with anyone else and as I’m sure everyone knows we will be tendering for it. The email said international experience was more important than local experience. And a consortium of organisations associated with vrfbs.
It also said the Eskom project at their mini grid was still ongoing despite covid restrictions.
It was very good to hear from the company, it made me feel better as it cleared up a few concerns I had. But only by really confirming what certain people have tried to persuade us is not true.
I mean the Eskom site visit (as I expressed my concern that we may not have been there) and I’m very much prepared to be amazed and excited by confirmation of an electrolyte plant right next to vametco. And I need to go to sleep!
I also received a reply from Chika today after waiting a week. The one real thing that I have to offer about the email being confirmation that we were present at the Eskom tender despite insidious individuals suggesting we were not.
Further that we will be tendering for Eskom as part of a consortium outside of South Africa. I’m not sure if that realistically means Enerox or Rongke to be perfectly honest. I may ask further questions as well and am very much grateful for having a response at all.
I don’t think for a second anyone in this thread is ramping or deramping and it’s only due to idiots that anyone feels the need to try and justify themselves in this way. I also don’t think this is another electrolyte plant and was most likely one of two possible sites and east London going ahead. Maybe I’m wrong dunno. We are still massively undervalued and under appreciated by the market.
The leasing arrangement is a huge deal and more will follow. Many many more. It’s pretty obvious that’s the case right?
Really good research chaps. I'll try with:
https://www.l2b.co.za/Project/Vametco-PV-Park/24217
located within the Vametco Mine, Brits, North West
Possibly ground clearing for solar and battery? Or is this located somewhere else and already know? I recall some discussion around it but not sure.
I'm struggling to believe this is actually all underway with no RNS. I would very much like to know the dates for the two map images that have been taken because it defo looks like a big area being cleared just ready for a factory. And the other link really does look like a tender to build a factory right in that spot. It's all extremely compelling and amazing research.
Truly outstanding if true but if it is true without an RNS. That just can't be right.
https://twitter.com/BushveldMin_Ltd/status/1302944251697860609
Looks like you only got a part of the link at the end but it just is a link to the RNS anyway. Keep it coming Fortune.
Invinity will also lose some of the up-front profit, and will be bringing in the customers for the Electrolyte deals. It seems reasonable they would get a slice of it.
We will be getting paid for the Electrolyte, and then leasing it, and then doing something else with it at the end of the lease period. Totally agree that we have no idea what any of this is worth. I'm not sure it's even possible to attribute clear value at the minute.
Like most tech stocks if the product takes off the sky is the limit. We have the ability to massively scale up V production should we need to. And now we can sell it, then lease it, then sell it again! As well as take some of the profits out of the actual battery tech companies.
I am very , very excited about the future. We will know about Eskom very soon. Low SP annoys me but company progress does not. I too look forward to some more info and commentary.
@calamari. Ok then show me YOUR numbers? You seem to be saying we made a loss. So show me what numbers you arrive at?
I apologise if my view seems chaotic to you, however if you give me some well reasoned research to talk about I am truly more than happy to work out a well reasoned response. But until you do that what sort of response do you expect?
It just looks like you are trolling, especially as you wont let it drop, so (once again), yuck!
Gawd I dont want to reply but go on then answer your own darn question:
Do you think BMN was profitable in 1H? And if not how much loss will it post?
If you can't answer your own question you are just spouting nonsense. It's no wonder people like yourself get the greeting on this board they do. Acting like they know better but providing absolutely zero evidence or research to back it up. Then when the conversation has moved past the topic, dragging it up again. What, for our benefit? Get outta town.
You know what you are up to and it just makes you an awful character. Yuck!
I'm trying to take over myself, bit by bit. Unfortunately I am a man of limited means so it may take me a while!
I would love to see us turn down a 30p takeover personally. I believe we would have enough shareholder support to stop it. I will accept £2 in a few years though thanks.
I was also wanting to add similar. I don't think anyone can PROVE that the accounts will show a loss or they won't. That is an accountants job. How much has been spent on the Eloctrolyte factory or preparing for (say) FTSE listing, or legal fees, or the amount to Covid proof Vametco or Vanchem. I just don't think we can guess an accurate figure to that degree. Not when saying 'Net profit attributable to shareholders'.
I also don't think for a single second it should have a bearing on the share price. When V prices were at their lowest we were expanding, building, investing. So what happens next? Eskom deals, V price rises. At what point exactly do we start to get valued like a tech stock? When does that change. It will. And not in 5 years. Soon.
@Libero completely agree and very well said. Ignoring facts serves noone.
V price is higher than it was and costs will be lower. We have had delays in shipping and therefore delays in getting paid. We have invested money in growth and stockpiling. I also think we should be prepared for the accounts to potentially show a loss, but think that in no way justifies the share price.
It honestly feels we would be better generating no revenue at all and building the business we are doing rather than paying for our huge growth out of profits. So many companies making nothing with huge MCaps based on potential and yet we are somehow viewed only on the money we make and not growth and growth potential? We are only worth around the value of our assets? Give me a break. Our SP is complete topsy turvy madness no matter how difficult the last 9 months have been.
But we will see that in time when the worm does eventually turn. And in the meantime I just find more money to add.
Oh come on.
We have a 23M debt. Only half of that is due soon, and at the current MCap. I literally said in the first post "The RNS states that Duferco can convert a maximum of $11.5M worth of shares in the first tranche"
Why would you, I, or anyone start to do an analysis of something due in a year where I am so so super confident we will be at a massively higher price? If I thought we'd be at the same price in a year I wouldn't even be invested here. And if we are at the same price in a year then another 3% dilution will be the very least of my concerns or complaints. It doesn't even factor in to anything, its just a very minor 11.5M debt used as part payment for Vanchem.
Once 50% has been paid back we do not have the same conditions in place regarding debt financing, raising money, or disposing of Lemur.
I don't even know if Duferco are anything to do with the monumental drag on the share price at the moment TBH just every now and again someone raises the spectre of dilution and the impact of Duferco and I wanted to clear up the numbers.
Finally, if the company do dilute all 6% but it results in us getting a committed II on board, increased investor confidence, and a substantially higher share price, then I won't argue with it. I'd rather we didn't need to for sure!
They can only convert 50% at the first year anniversary so 11.5m and we can pay them 50% back. So a quarter of what you are saying ... so ~3%. I'm giving all the info right here not sure what is hard to follow but your maths are incorrect and you are either not reading, or attempting to scaremonger.
Duferco 100% cannot just suddenly decide to convert all 23m.
We can pay off 50% as per:
o Repayable in cash after the second anniversary of Transaction Closure, plus any accrued interest;
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;
o Early redemption of the Loan Notes at the election of Bushveld Minerals, subject to the condition that the holder will have an option of converting up to 50% of the early redemption amounts into Bushveld Minerals shares on the same terms set out above;
They can choose when they convert. We can pay them off but they can say no and convert 50% to shares. So ~3% dilution if BMN and Duferco follow that path.
I have emailed Chika. I have also done it before and had no response which is, again, quite frustrating. But then I was asking about the update that dropped a few days later.
@bassguy
relevant section:
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;
Am totally prepared to be wrong as some of the wording confuses me. For example:
o Obligation to repay on a substantial sale of assets or change of control;
If we have an OBLIGATION to repay could we not sell Lemur and pay off the debt? I am presuming we would be obliged to repay but they would not be obliged to accept it. So am basing anything I say on assumptions such as that!
I certainly don't have blind faith and as time goes on I also get increasingly frustrated at the lack of comms. Can we not have the great business building AND direct and clear communications?
But I just wanted to do some little sums on the real impact of Duferco.