Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
@knuttie - the question is do you see long term significant profit and share price growth for the mining business even if we have no success with Eskom?
The Holy Grail for some, but for many the BE side of the business is a “free carry”. Even if BE don’t land any big VRFB contracts, other entrants into the VRFB space will drive V prices higher and our significant increase in production will deliver very substantial profit levels.
Even without BE contracts, the risk/reward here is very positive as far as I can see.
@Luderitz - I understand your frustrations, but you could literally make those comments in hindsight on any AIM stock “.... I should have sold on the rise before the retrace....”.
Hindsight investing is easy, but as Lindon says, just sell into the next rise and wait for the next dip if that suits your personal strategy.
Personally I don’t trade so am just waiting and holding. I am still underwater here after over 2 years, but have doubled my holding and within a couple of pence from breaking even. Will I sell as we move through the 20’s and take my profit - absolutely not.
When reassessing my investment in BMN I always retreat to the fundamentals of the core business, the increase in production that’s been laid out over the next few years, together with the inevitable rise in V prices will underpin the valuation significantly north of where we sit today.
For me, the BE side of the business is a “free carry”. Even if BE don’t land any big VRFB contracts (which I believe we will), other entrants into the market will inevitably lead to tighter supply of Vanadium into the steel market as V is taken out of that market and redirected into the growing VRFB space.
That will drive V prices higher and with the already financed production growth plans laid out in the company’s roadmap, the upside to profitability for the mining business is clear to see.
Just my opinion on current situation.
Amazing rise.....just catching up on the BB and the reporting of such a big rise is V prices is fantastic news going into the weekend!
At this rate, V prices look like they maybe heading through $40 in short order, providing BMN with a nice cushion in terms of profitability for the mining business.
If these expected rises continues through Q1, it will provide a fantastic springboard for the remainder of 2021 as economies across the world hopefully begin to recover.
Half term week break from work coming up with the kids, but also looking forward to what could be a positive week for our share price. Fingers crossed!
GLA
LS - thanks.
11.02.21
“Ramaphosa said that the department would SOON be announcing the successful bids for 2 000 MW of emergency power, while government would also be initiating procurement programmes for an additional 11 800 MW of power from renewable energy, natural gas, battery storage and coal in line with the Integrated Resource Plan of 2019.
He also noted that the regulations had been amended to allow municipalities to buy power from IPPs and said that systems were being put in place to support qualifying municipalities.“
@Beginerman - this looks like a planned and coordinated action agreed by the Board to sell the exact same percentage of the shares they each have recently been given.
They will of course have their own individual financial and tax status and no doubt some will not require cash urgently to settle relatively small tax liabilities. So to me this could suggest this could possibly have been agreed along with the Company's advisors, and completed prior to some form of news. Purely speculation on my part.
Here is the SPA note from Tuesday 10.02.21
Bushveld Minerals* (
#BMN
LN) 19.23p, Mkt cap £229m – Bushveld restates intercompany sales figures indicating greater tonnage of ferro-vanadium sold in Q4 and the full year (Bushveld Energy holds 65.1% Enerox Holdings Limited along with 5.66% in Invinity) Bushveld Minerals has restated a number of ‘intercompany’ sales figures as presented in last week’s Q4 and FY production and sales update. 12M 2020 Group Sales of 4,264 mtV includes intercompany sales of 422 mtV , rather than sales of 4,264 mtV includes intercompany sales of 1,255 mtV as previously stated. Eg. Bushveld sold 3,842 mtV of vanadium for the full year vs 3,009 mtV than previously implied Q4 2020 Group Sales of 1,268 includes intercompany sales of 15 mtV, rather than sales of 1,268 includes intercompany sales of 520 mtV as previously stated. Eg. Bushveld sold 1,253 mtV in the fourth quarter vs 748 mtV than previously implied 12M 2020 Vametco Sales of 3,333 mtV includes sales to customers of 2,911 mtV and intercompany sales of 422 mtV, rather than sales of 3,333 mtV includes sales to customers of 2,078 mtV and intercompany sales of 1,255 mtV as previously stated. Q4 2020 Vametco Sold 907 mtV in Q4 2020, of which 892 mtV were final sales to customers. The sales volume includes intercompany sales of 15 mtV, rather than Sold 907 mtV in Q4 2020, of which 388 mtV were final sales to customers. The sales volume includes intercompany sales of 520 mtV as previously stated. Conclusion: It is good to see that Bushveld sold more material than previously stated. Intercompany sales are deducted from the headline sales figures to give the actual sales to external customers. We will update our revised estimates and valuation shortly *SP Angel acts as Nomad and broker to broker to Bushveld Minerals.
A quick calculation confirms each individual sold EXACTLY 47% of the new shares. This was done collectively as part of a single transaction at 19p to settle the exact amount of tax liability on the original transactions.
Report disruptive and inaccurate posts.
Total number of shares involved is about 500k @ 19p to pay tax liabilities. In total this equates to approximately £100k between all 7 individuals.
Looking forward to some very positive news incoming...
I strongly believe that a deal will now happen almost certainly as we have been in the FSP for over 7 months and negotiating under NDA’s with interested parties for over a year. We now have non-binding offers on the table, so these must be being seriously considered and within an acceptable range for the Board to take forward and ultimately recommend to shareholders. I therefore think it is highly unlikely that we will not progress through to binding offer stage. My guess in terms of timing would be by the end of February.
It is absolutely worth remembering that the Board’s key objective will be to maximise shareholder value in whatever form of transaction that requires. Although many here would prefer a straight forward sale (myself included), for me some sort of JV or long term stake in the assets is a strong possibility.
The Board’s advisors will be financially appraising the different types of deal and structure, building in different scenarios, probability, risk levels, future PGM pricing etc. into their financial models. The underlying assumptions will be continually checked, verified, adjusted and stress tested to enable all different options to be compared, so that the best deal for shareholders can be presented to the Board.
There will be a number of different scenarios and structures to consider from a straightforward sale through to EUA retaining some form of long term interest in the assets being sold. I believe there is a good possibility of an MT/WKT disposal coupled with an earnout agreement based on future profitability generated by the acquirer. So a lower sale price than full company sale, but would de-risk the buyer’s position (currently no DFS at MT) and pass some of that risk onto EUA.
Under this scenario, we would see a huge asset disposal, rather than a share disposal, which could precipitate a huge exceptional dividend paid to shareholders. EUA Mining plc remains (we retain our shares) and the company continues to either acquire further licences and prove up additional resources, or this also done by the acquirer and EUA receive a royalty.
Although not a clean beak disposal, a deal structured this way may suit both sides and means EUA shareholders achieve maximum long term gains while someone like NN is doing all the heavy lifting.
Holding till the end.
GLA
Frustrating- but looking at the bigger picture and longer timeframe I can only see massive upside here.
I know it is continually said, but this does give an opportunity to add at these suppressed prices before big news lands or V prices are potentially into the mid 30’s and beyond.
I’ve added a further 15k this morning.
GLA
BBN’s suggestion make sense in terms of reasoning for the SP moving in the opposite direction to recent V price movements.
Personally I would find this disappointing as it was generally expected that Duferco would have longer term support and ambition with their investment.
Also the delayed reporting of the TR1 raises questions and could mean that a bigger seller down may have subsequently occurred but with further delayed reporting to the market.
Hopefully the company may be able to shed some further light on the matter.