Member Info for jogj99

I'm pleasantly surprised by the SP today. I thought it might have drifted further after yesterday's RNS.

Level 2 is looking very strong so it could be a significant rise this afternoon.

Libero, the finance deals in the early days were basically **** poor. They kept getting finance by giving huge amounts of highly discounted shares to bucket shop brokers. BMN has a huge base of long term investors that could have easily funded BMN through an open offer.

If you are going to give shares away at a discount then give them to your loyal share holders.

The worst thing for me is that I never thought he deserved the golden goodbye in the first place. For him to be issued those shares was a travesty in the first place.

Sanchez, that’s as good a post as I’ve ever seen on here.....

Muppet, having been hanging around here for sometime I know that there is generally a lull in V prices in the run up to and over CNY. A rise like today’s on the back of the rises over the previous few weeks is unprecedented and I assume linked to China becoming a net importer of V over the previous 12 months.

I think we’ll see very significant rises at the end of Feb into March, I’m not entirely sure where we’ll end up but the sweet spot (maximises profits from the V business but doesn’t make flow batteries too expensive) that Fortune previously mentioned of $45 could be in sight over the next couple of months. If that happens then 2021 will be an extremely profitable year for Bushveld.

https://twitter.com/largoresources1/status/1359867999776366597?s=21

It is pretty impressive. Considering Bushveld were the first to come up with the vertically integrated model for batteries etc we seem miles behind.

I’m expecting a huge flow of news soon but I have to admit I’m envious of where Largo are at the moment. I’m fed up of Fortune’s policy of holding news back.

I like your thinking Alfa. Fingers crossed for the morning!

Alfa, that would be great but I’m not sure the SA government is that organised. Hopefully I am very wrong!

Aren’t increased costs just the repayment of our loan? So I don’t see what the issue is. That is the capital the is driving growth and allowing Bmn to become the titan of the energy storage industry.

https://www.lse.co.uk/rns/BMN/bushveld-satisfies-conditions-of-us65m-funding-8o7n444c9b399wi.html

Bushveld will repay the principal amount and pay interest via quarterly payments determined initially as the sum of:

§ a gross revenue rate (set at 1.175 per cent for 2020 and 2021 and 1.45 per cent from 2022 onwards, subject to adjustment based on applicable quarterly vanadium prices) multiplied by the gross revenue for the quarter; and

§ a unit rate of US$0.443/kgV multiplied by the aggregate amount of vanadium sold for the quarter.



Once Vametco reaches vanadium sales of approximately 132,020 mtV during the term of the facility, the gross revenue rate and unit rate will reduce by 75 per cent (i.e. to 25 per cent of the applicable rates).

If the restructuring process consultation started the last week of Jan and last thirty days then potentially no updates regarding this until the end of Feb, beginning of March.

Posting on a bulletin board doesn't require the same level of care as posting your Q4 and full year sales figures!

Beginerman, it wouldn't be too bad if it was the first time. I can think of at least two others.

I console myself with the fact that they are extremely busy turning Bushveld into a titan of the energy storage industry.

Looking forward to the next couple of weeks. I’m expecting an update from Bushveld as well as the result of the Eskom tender. Exciting times!

Close Mitch, I think the Vanadium bit came around Oct ‘13, well before the Lemur buyout.

My point is not about installing services or moving earth.

It does not cost 2.5 million dollars for a definitive feasibility study for a stand alone mine! Bushveld must be planning a processing plant as well. 2.5 million is the cost of the study alone.

Something else that I have been thinking about from yesterday’s RNS is the line regarding the costs in 2021 re Mokopane.

‘ Mokopane DFS ZAR40 million (circa US$2.5 million)’

You don’t spend $2.5 million on a DFS for a stand alone mining operation that is going to be shipping ore to be processed at Vanchem even if partial processing is going to take place.

Spending that much money it must include longer term plans for a processing plant.

Thoughts?

Nice to hear from you PJP. Anyone else out there that are lurking? The more people with worthwhile input, not trolls, the better!

https://www.miningmx.com/wp-content/uploads/2021/02/Rainmakers-Potstirers-2021_3-Feb-Final.pdf

Fortune has been highlighted in the 100 most influential people in African Mining. The main part of the write up has been posted below. There was also a comment from Fortune himself, ‘The opportunity for vanadium batteries is not in the future. It is here today. I could not be more excited.’

There is also a flag which denotes that significant news is expected soon.

SHARES in vanadium producer Bushveld Minerals soared five-fold during 2018, but the company lost those gains in 2019 and early 2020 before staging a partial recovery as Chinese vanadium demand improved. China, which has traditionally been a net exporter, became a net vanadium pentoxide importer in 2020. The expectation is that total vanadium demand could rise between 3% and 5% in 2021, pushing up vanadium
prices as the Covid-19 pandemic fades and the global economy recovers. Bushveld Minerals is building production capacity to
meet this demand growth, partly as a result of new vanadium battery technology - an area in which it has committed downstream investment. But the metal’s main price driver remains $500bn
in China’s infrastructural spending plans which would result in more steel and rebar production and increase domestic vanadium consumption. Bushveld sold more product into China, yet it could not escape last year’s retraction. The company became loss-making which led to the announcement in September of a $30m “long-term production financing agreement” with Orion Mine Finance to fund the Phase 3 expansion of its Vametco plant and repay debt. Orion also agreed to subscribe for between $10m and $20m of convertible loan notes with those proceeds earmarked for debt repayment and the first phase of the Vanchem refurbishment programme. Overall, Mojapelo reckons the financing will allow Bushveld to restart growth initiatives that had previously been put on review as the pandemic pressured the balance sheet. All going to plan, Bushveld should get back on track in 2021 barring any further setbacks to the global economy.

When I looked at the website I noticed on the front page -

Bushveld Energy, an energy storage component manufacturer and project developer, focused on vanadium-based energy storage systems called Vanadium Redox Flow Batteries.

Since when have BE been a component manufacturer!

So much is going on behind the scenes. Accumulate shares while you can.

Lemur concluded a US$1 million facility agreement with the Development Bank of Southern Africa for project preparation finance. This facility will be used to complete the remaining project development activities and pay for advisory services to enable the project to reach financial close.

That is from the company website so no drain on finances. Also there is this -

Lemur is in project finance discussions for the construction capital with interested lenders. The company’s objective is to get the project to a ‘construction-ready’ stage, which we previously announced would be completed in the first half of 2020. Due to the effects of Covid-19 we anticipate that the project will get to construction readiness in the first half of 2021 and attain financial close soon afterwards. Discussions with lenders are expected to be concluded during 2020, once the key studies such as the SEIA and the mine definitive feasibility study are completed. Subject to financial close on approximately US$160 million of funding, the plant commissioning date would be 2022.