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Thank you Pdub, gambitxjs, bassguy, Alfa, Halespur, SSA, and all for the nice messages - it's much appreciated : )

Ogdie - If there was nothing going on, I'd have nothing to hype the board up about, but when there's so much going on, and with such solid evidence of progress being made that'll benefit BMN as what I found on Eskom's own website, I believe it's of value to bring this to the board's attention. There's a clear difference between that and merely ramping.

Introv - Great point well made there once again, in pointing out that BMN will benefit from all these Eskom projects either directly or indirectly so these tenders should be viewed positively, as good news in itself.

Alfa - in response to your earlier post, I don't have Twitter but may set one up in order to contact you.

Lastly please may I say that I'm delighted to see how quickly we have re-risen above 13p - it's evidence of improving sentiment. Which is remarkable when you consider all the nonsense we've had to go through.

Looking forward to seeing what the rest of the week brings!

As ever, I recommend these as a 'Strong Buy' - this price level is an absolute bargain, sentiment is returning, progress on a variety of fronts is being made, and news is on the way : )

and here we are still comparing Largo! Why bother? We're bigger and better than them and, as Mark Twain said, comparison is the death of joy. Let's stop this because it's just adding to the negativity.

And also why not do additional research into what I discovered on the Eskom tender website (the horse's mouth) last night? I was expecting someone to have done maths as to how much vanadium would be needed, how much it would be worth at today's prices, how much it would be worth at $45kgV, how close the power stations are from the Bushveld complex geographically, etc, etc. Honestly surprised by the lack of reaction from the bb.

The future could not be any brighter for this company and the share price. The long multi-year plan is coming together and the share price will explode later this year!

DYOR : )

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10%+

Well at this market cap Direct Line would automatically join the FTSE100, so I'm confident it will happen next month.

And yes a likely 10% yielding share is brilliant. You won't find many like that in the market.

Agree there's a lot of nervous investors and I don't blame them to be honest. I'm not bullish re the market as a whole, just a few carefully selected shares.

Actually think I was a bit harsh in my 1st HAT comment today so have clarified it by saying that I don't like the risk vs reward as things stand today for that share, but can see it doing well in the longer term. As you say, we shall see!

Best of luck to you too, Steve

Agree that the debt reduction / position is impressive. Especially after the acquisitions made last year.

So, to be clear, I meant the risk vs reward doesn't look great in the immediate term, with the potential 2nd wave causing shops to re-shut (they're already talking about pubs shutting next month!), which could be an issue now that they have more shops than ever before. Plus, without the furlough scheme, costs will increase vs last time as well.

Whilst, in the longer term, I stand by what I said a few weeks ago about HAT being a net beneficiary of the economic downturn.

i.e. I wouldn't invest in HAT right now but I will continue to monitor it because it could become an attractive opportunity as time progresses.

'Weak sell' was probably too harsh, so have amended my opinion to 'Hold'

Steve305 - well done once again, you keep picking winners (RBN, CARR, and here of course), so I will have to follow your tips more closely next time! Really appreciate your advice matey. In return, please may I suggest you check out FRP Advisory which I believe will do really well later this month and beyond.

DLG has done well for us both but hasn't risen by as much as I had anticipated. Presuming we shall reach 350p over the next 2 days, the share price will have risen 25-30% (excl dividends) from when I first started tipping this around 270-275p in early June, but it clearly hasn't reached the heady heights of 400p I had hoped for in a spikey rush for a juicy yield.

Honestly believe DLG may surprise the market yet again with an even better H2 and more dividends so I still rate this as a Buy.

Best of luck matey

Alfacomp,

That's a very good point actually and, as you say, if the MMs were using naked shorts to constrain the SP in the hope of a placement of shares to pay for the Enerox deal, then yes Fortune & Co has once again played an absolute blinder here by outwitting them!

The MMs must now be feeling very anxious.

As you said yesterday, the company will never announce that they've bidded for a tender (wishful thinking on my part due to my sheer impatience!), so the MMs probably have at least a few weeks before they need to close out their positions but yeah they must be feeling v anxious with all this Eskom news.

... and the SP will rise even more incredibly as a result when the news eventually lands!

Honestly think we're in for a truly incredible share price rise over the next 12 months!

- H1 profits down to £5m (vs £6.8m)
- H1 gold profits were £2.8m, up from £1.3m, due to higher prices
- H1 profits excl gold profits were only £2.2m (vs £5.5m)!
- Dividend has been slashed in half almost, down to 2.5p (vs 4.7p)
- FCA Probe still ongoing - was hoping more progress to remove this rain cloud would've been made

The profits excl gold concern me here, esp when you consider how they took advantage of the furlough scheme and cut exec pay etc. It shows that the business cannot cope without their stores being open, they were evidently loss-making during lockdown, and it isn't like there was pent-up demand when they came out the other side of it, otherwise these results would look better. And what if there is a second wave causing another lockdown? Without the furlough scheme the business will become even more loss-making than it was first time around.

Consequently, rather than being a hedge against everything going on, it now looks like it's yet another company that's a victim and vulnerable to this unpredictable pandemic.

On this basis, I remain too unconvinced at this pricing level to consider investing (the risk vs reward isn't attractive), especially when there appear to be better ways to benefit / hedge against the economic downturn (my hedges are Direct Line Group and FRP Advisory)

DYOR and good luck to you all

there'll be some sort of profit taking at some point but this is looking as though it's on a strongly upward trend at the moment.

Is 150p possible BEFORE the news and the declaration of a dividend? If so, we could see 200p very v soon.

Know where you're coming from, Daisydog, it is very unfair, but I truly believe that this current share price is largely the result of 1 big seller keeping us roughly at this level, and that seller will eventually run out of shares to sell, and soon enough there'll be transformational news that'll send the sp flying - the signs are already there!

and I can see there was a chunky £26k buy last night too

10-Aug-20 16:21:42 12.45 208,795 Buy* 12.25 12.50 25.99k O

Excellent post, Pdub!

And when you see the number of different projects Eskom are launching in South Africa with a huge bias towards local companies with demonstrable experience, it's clear that there's many opportunities for Bushveld to profit massively in a whole variety of ways here!

I know I posted it all last night but honestly would recommend people check out the Eskom tender bulletin website - it's all there, and the list for Battery Storage / BESS seems to be growing ever so rapidly!

Alfa, great post but is it not possible that the 24 month period doesn’t start until the actual commencement of Phase 1, rather than being the next 24 months? So perhaps the eventual JSE investors won’t miss out

If you check out the Eskom tender website, and type in "battery" you'll see that there are currently 4 different Power Stations & Battery Storage solutions in the works.
https://tenderbulletin.eskom.co.za/

I clicked on one of them (Grootvlei) and there's a Battery Storage part to this questionnaire asking the following:

Where are your design/manufacture facilities located? If not in S Africa, will local manufacturers be considered? --- clearly there's a local bias.

Can we have a tour of your facilities and when? -- again this helps local businesses.

How many installed batteries do you have around the world / what's your global footprint? -- this will hugely benefit Bushveld when they've got partial ownership of Enerox and Invinity!

Enerox especially has a hugely impressive portfolio.

All 4 of these Requests for Info close on 19-21 August; and all 4 of them provide other catalysts for the BMN share price!

It's also incredibly exciting that Projects A, B and C are collectively referred to as being only "Phase 1" !

Halespur, thanks for your post - it reminded me to check the Eskom Tender Bulletin website again, where I found the news of the 1st BESS tender invite, for the Skaapvlei (Western Cape Vredendal) Substation Battery.

With the closing date being 17 August, it's clear Eskom want a consultant in place ready for the 1st BESS tender for the "Design, engineering, supply, construction, erection, testing and commissioning of a Battery Energy Storage System (BESS) with a minimum of 80MW/320 MWh usable capacity including 5 years Operation and Maintenance Services at Skaapvlei Substation in South Africa, in Western Cape, Vredendal."

The Skaapvlei (Western Cape Vredendal) Substation tender is referred to as Project A in this new tender invite.

This is the first time we've seen solid confirmation of Eskom already planning for what those 2 newly announced projects (Projects B and C), which is hugely exciting news!

"2. Shortlisting Criteria:
? Eligibility: The consultant must submit copies of certificates of incorporation or registration of the
consulting firm, company ownership (Directors and Shareholders) of the company.
? Previous Assignments: The Consultant must have completed in the past seven (7) years at least
two (2) similar assignments of detailed engineering design, specification development, tender
documentation & management, project management and construction supervision of distributed
grid connected Battery Energy Storage System (BESS) of approximately US$ 300 thousand value
and above.
The Consultant must have proven experience of similar assignments with a proven record of
scope, complexity, and value. Previous or current assignments on projects of similar scope with
similar characteristics for the past seven (7) years clearly indicating the role played by the
consultant should be documented as part of the submission. Consultants may associate with other
firms in the form of a joint venture or a sub-consultancy to enhance their qualifications.
Consulting firms are encouraged to associate with local South African consulting firms.
Associations may take the form of either a joint venture (whereby firms will be severally and jointly
liable for the assignment and in which case all joint venture partners are required to demonstrate
competence in the core areas of the assignment) or sub consultancy (where a firm possess
competence in core areas of the assignment and sub contracts part(s) of the assignment to
another firm(s)"

https://tenderbulletin.eskom.co.za/Tenders/Docs?TENDERID=44761

Background
Eskom Holdings SOC Ltd in the Republic of South Africa intends to engage an experienced consultant to carry out the Consultancy Services for the provision of technical assurance on detailed engineering designs and specifications, develop tender documentation, project management support, construction supervision and legal services for the distributed grid connected Battery Energy Storage Systems (BESS) for Phase 1 (800MWh)

Phase 1 of the BESS (800MWh) is divided it into three main packages for the seven (7) sites. The consultant will be responsible to provide engineering and project management support and legal services to the client on the following packages.

A. Package 1 – Skaapvlei (Western Cape Vredendal) Substation.

Design Supply and Installation (DS&I) and commissioning of Battery Energy Storage Systems (BESS) for a minimum of 80MW/320 MWh usable capacity at Skaapvlei Substation, including 5 years of operations & maintenance (O&M).

B. Package 2 – Melkhout (Eastern Cape) and Pongola and Elandskop (KwaZulu Natal) Substations.
Design Supply and Installation (DS&I) and commissioning of Battery Energy Storage Systems (BESS) for a minimum of 35MW/140MWh at Melkhout, 40MW/160MWh at Pongola and 8MW/32MWh at Elandskop including 5 years of operations & maintenance (O&M).

C. Package 3 – Paleisheuwel, Graafwater and Hex (Western Cape) Substations.

Design Supply and Installation (DS&I) and commissioning of Battery Energy Storage Systems (BESS) for a minimum of 10MW/40MWh at Paleisheuwel, 4.5MW/25MWh at Graafwater, and 20MW/100MWh at Hex including 5 years of operations & maintenance (O&M).

The total Scope of works includes all civil works, interlinking roads, and Battery management systems, a collection system, fibre-optic communication, BESS foundations, Firefighting, HVAC systems and commissioning of the BESS.

Published last week, and closing date is 17 August !

Name of Project: Eskom Investment Support Project (EISP) and Eskom Renewables Support Project

Consultancy Services for:
Provision of technical assurance on detailed engineering designs and specifications, develop tender
documentation, project management support, construction supervision and legal services for the distributed
grid connected Battery Energy Storage Systems (BESS) for phase 1 (800Mwh)
Duration: 24 months

Eskom Holdings SOC Ltd has received financing for an the amount of US$ 406M from the World Bank, New Development Bank, and African Development Bank towards the cost of the ESKOM Investment Support Project (EISP) and ESKOM Renewables Support Project (ERSP) and intends using part of the funding to finance consultancy services for the Provision of Technical Assurance on detailed engineering designs and specifications, develop tender documentation, project management support, construction supervision and legal services for the distributed grid connected Battery Energy Storage Systems (BESS) for Phase 1 (800MWh)