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From recent UIS DFS RNS
Loan Note Update
The Company's Loan Note Facility of £2.05m (see announcement dated 5 May 2020) (the "Loan Notes") was due to be repaid in cash on 4 May 2021 (or, as set out in the announcement, the amount can be redeemed in shares, in which case the shares are to be issued at a 20 day VWAP calculated on the date prior to the repayment date) . The Loan Note holder, Yellow Dragon Holdings Limited, has confirmed that it does not intend to seek repayment or conversion at this time; and the Company is currently in discussions with them with regards to a formal extension of these notes. The Company is also exploring further options for the repayment of the Loan Notes. Further updates will be provided in due course.
I believe they do sell concentrate to the smelter.
Check RNS from Feb 15 on Offtake agreements.
"AfriTin Mining Limited (AIM: ATM), an African tin mining company with its flagship asset, the Uis Tin Mine ("Uis") in Namibia, is pleased to announce it has agreed a new offtake agreement for its tin concentrate with its existing trading partner, Thailand Smelting and Refining Corporation ("Thaisarco")"
From the last Financial results (see notes section)
· Thaisarco pays AfriTin on the basis of actual tin content in the concentrate per Thaisarco's analysis at the London Metal Exchange price less treatment charges, unit deductions and impurity charges;
Looks like hard assets and commodities versus FIAT currencies while inflation bites for a bit. People may want to be selective about what they dispose of in the panic.
https://www.proactiveinvestors.co.uk/companies/news/949102/inflation-is-coming-no-matter-what-they-tell-you-949102.html
Cheers @BBN, fully agree. Thanks as always for your thoughts. I strongly believe we will see a Vanadium futures market of sorts emerge very soon to allow the likes of IES/SGRE to lock in their supply at workable prices for them. IMHO those thinking that we are 12-18 months from serious movement may be pleasantly surprised if already in or miss the boat if not.
A trade(sell) matching the exact amount of BMNs remaining holding in IES was posted on 6/4/21. As they were under 3% no reporting was required by IES/BMN.
The BMN-IES links now are (a) the remainder of the 2 year first refusal agreement, (b) the VERL joint venture for electrolyte rental and (c) importantly, the goodwill created with the former Avalon and REdT management from BMN underwriting the initial merger to create IES.
Worth a check on BBNs tweet on the IES news.
https://twitter.com/BigBiteNow/status/1392031344369324033
https://twitter.com/BigBiteNow/status/1392031344369324033
From IES & BMN VERL joint Venture RNS. "VERL's purpose is to provide a vanadium electrolyte rental option to Invinity's customers." Who supplies the V and electrolyte? Imagine the scale of rentals that could be possible through Siemens, mind boggling....GLA
https://www.lse.co.uk/rns/BMN/vanadium-rental-partnership-with-invinity-9juzck5zv7segq0.html
DBB, This is what I see from taufour's LSE trades from today. The 250k sell may be a bigger "seller", the 419k looks more like a PI bailing. (Trade times are GMT not BST). The buys are more interesting today. Late reported trades will be telling (if any).
Chunky Sells
2021-05-10 13:00:20.267 --:--:-- (GBX) 17 250,000 42,500.0 UT AIMX P
2021-05-10 11:32:50.393 12:30:57 (GBX) 16.85 419,393 70,667.72 Off-Book AIMX P+LRGS AIMX
Chunky buys
2021-05-10 13:51:59.567 --:--:-- (GBX) 17.5 200,000 35,000.0 Off-Book AIMX P AIMX
2021-05-10 13:26:23.983 --:--:-- (GBX) 17.45 200,000 34,900.0 Off-Book AIMX P AIMX
2021-05-10 11:36:00.207 --:--:-- (GBX) 17.25 200,000 34,500.0 Off-Book AIMX P AIMX
2021-05-10 10:06:55.120 --:--:-- (GBX) 16.8 350,000 58,800.0 Off-Book AIMX P AIMX
2021-05-10 10:06:39.097 --:--:-- (GBX) 16.8 350,000 58,800.0 Off-Book AIMX P AIMX
2021-05-10 10:01:27.030 --:--:-- (GBX) 16.7 250,000 41,750.0 Off-Book AIMX P AIMX
2021-05-10 09:37:56.417 --:--:-- (GBX) 17 200,000 34,000.0 Off-Book AIMX P AIMX
2021-05-10 08:46:51.190 --:--:-- (GBX) 16.75 200,000 33,500.0 Off-Book AIMX P AIMX
2021-05-10 07:14:45.957 --:--:-- (GBX) 16.6 250,000 41,500.0 Off-Book AIMX P AIMX
Merely a couple of reversals that ended in a 500k buy IMHO.
04-May-21 16:10:59 17.50 500,000 Buy* 17.20 17.50 87.50k O
04-May-21 16:10:59 17.50 500,000 Unknown* 0.00 0.00 87.50k O
04-May-21 16:10:59 17.50 -500,000 Unknown* 0.00 0.00 -87.50k O
04-May-21 15:07:38 17.60 250,000 Unknown* 0.00 0.00 44.00k O
04-May-21 15:07:37 17.60 -250,000 Unknown* 0.00 0.00 -44.00k O
DBB, No way to know for sure from the non-house side of the casino table. A few circumstantial things. The SP took a serious dent around the time the trade actually went through. At the time it looked more like heading towards 17p then dropped suddenly to 16.2. There hasn't been great volume this week until today at prices to justify the MMs paying 16.25 for that size . I'm hopeful and inclined to think that the MMs took them and are expecting a rise next week with Q1 report, and possibly a sweetener thrown in to improve the mood before Fortune makes good on his Investor Meet the Company appearance. All noise really as long as the V price stays moving up gradually. GLA.
Looks like the 4,035,668 sell was Invesco bailing out. The good news is that the MMs were willing to take the shares in one go so someone must be picking them up.
https://www.morningstar.com/stocks/xlon/bmn/ownership
Jog, Unless we get a massive buy printed to absorb the 4M sell I suspect the 1M@16.335p was IMHO a worked or mates rates buy to clear some of the 4M overhang for the MMs. Why would they buy more at that price with a large chunk of the 4m@16.25 left to sell?
Agreed Dave77, highest trade for about an hour at the time except for the tiny freetrade ones.
IMHO, Expect a late reported sell to mop up the buys. Looks like 2 x B&I pairs at 1pm today to further muddy the water.
Get the feeling the MMs have pulled a few mil shares from somewhere to quell today's positivity. They had a few to shift recently but they wanted higher prices beyond the first 100k @16.45, up to 300k+ @16.67 but have since reduced the max buy to 200k. It's costing someone a bit to hold this down.