Member Info for LionelGreen

2018 Highlights

Bushveld Minerals
· Raised our effective underlying interest in Vametco from 59.1 per cent to 74.0 per cent in September 2018
· Raised over US$20 m in an equity placing at 10.3 pence per share from experienced mining and UK institutional investors
· The best performing FTSE-AIM Materials stock
· 3rd best performer on the FTSE-AIM All Shares Index
· Revenue of US$192.1 million (2017: US$ 2.8million)
· Adjusted EBITDA (reported as operating profit before depreciation) of US$101 million
· Total cash of US$42 million as at 31 December 2018 (31 December 2017: US$9.7 million) with no debt (31 December 2017: US$7.9 million)

Bushveld Vanadium
· Vametco delivered a solid financial performance in 2018, underpinned by a strong vanadium price environment
· Vametco's Revenue and EBITDA for the year ended 31 December 2018 increased by 131% and 353% respectively to US$183.0 million (2017: US$ 79.1 million) and US$108.3 million (2017: US$23.9 million)
· Average Ferrovanadium price up 149% to US$81.2 KgV (2017: US$32.6)
· Vametco annual production down 3.4% to 2,560 mtV (2017: 2,649 mtV) following 37.5 days of stoppages and unexpected operational challenges
· Vametco achieved a safety record of 5,375,848 man-hours without recording a lost time injury and there were no fatalities during the year

Bushveld Energy
· Commissioned the VRFB project with South African national power utility Eskom, including site acceptance testing
· Secured a grant from the USTDA of US$500,000 to support the Eskom project and the energy storage industry in South Africa
· Progressed the development of a 200MWh vanadium electrolyte production facility, including allocating the facility's site in the East London Industrial Development Zone ("ELIDZ") and initiating an Environmental Impact Assessment ("EIA") on site
· Purchased the first 2 mtV from Vametco for conversion into electrolyte using a new production process designed specifically for Vametco's vanadium feedstock

https://www.investegate.co.uk/bushveld-minerals-ld--bmn-/rns/final-results-for-the-year-ended-31-december-2018/201905230700089604Z/

This is a really excellent RNS, resources doubled, and grades improved. Even more than I was expecting.

And the company has sharpened up its use of "imminently"!

Nothing meaningful from the company regarding its exploration for months now.

Disgraceful company. Disgraceful management. Disgraceful leadership.

err... yes, please !!!

It's good to see just how fast the SP can rise once sentiment turns.

Fundamentals really looking excellent.

I'm loving' it !!!

@SloppyG: I don't know how you find all these interesting news items, but I'm sure there are many of us here who do appreciate the work and time you put in posting them. Thank you!

More generally, the SP drop is tiresome, but I've been reasonably confident of the fundamentals of this company for a long time (thanks in large part to the many excellent and informed posters here). The Vanchem acquisition laid to rest any remaining concerns that I might still have had. I even somewhat understand the appearance of the negative trolls (although I dislike them), because (it seems to me) their presence confirms that the SP is being manipulated, and therefore provides further confidence that the long term direction will be STRONGLY up.

Lionel

https://www.investegate.co.uk/bushveld-minerals-ld--bmn-/rns/bushveld-vanadium-q1-2019-operational-update/201905150700170406Z/

Participant voting on: " Which type of battery storage technology will dominate the market in the next five years?"

Answer: Li and Vanadium are perceived pretty much neck-and-neck, and way above other elements.

as subject

I don't think we heard from RichKen today? I hope his personal circumstances are ok, and that he will find time and space to enjoy this important development.

... the emojis for standing ovation and thunderous applause?

This is HUGE!

Brilliant presentation.

Well done Fortune and the entire team!

@Alfacomp - many thanks for your detailed reply. The situation is certainly troubling. I will see what I can do.

@Alfacomp - do you know the status of VRFB take-up in the UK? Is it being studied, or are there any tests, or prototypes being commissioned? If you have covered this somewhere in TBP, I'd appreciate a pointer.

I expect to meet with an MEP (committed to renewable energy, and RE subsidies) next week, and wanted to bring the entire VRFB case to their attention.

Thanks

@hotchips - interesting post. Could you perhaps put a little more flesh on your statement:

"I have had some insight, via a broker acquaintance, of how such matters can be managed"

Many here might welcome any further details of such insight that you can share.

The AVL (Australian Vanadium, Vincent Algar) interview flagged by Raz10 (15:27 post), has a couple of relevant points worth sharing:
1. he refers to Bushveld as one of the major producers (in the same breath as Lago)
2. from 2m30s: he argues that the use of Nb (as a V replacement in rebar) in China brought the Vanadium price down from its 2018 peak (this was for me a new argument to explain at least part of the recent price drop), but that Nb is not the first choice in the longer term (for reasons already well covered here)
3. from 6m30s: AVL's feasibility study aims, over the next few years, to produce 10,000 tonnes V2O5 per year
4. underlines (as we know) that it is expected to be a very good few years to come for vanadium

@Alfacomp's 07:46 post this morning about the Bushveld Shareholders Association letter of complaint to the SFA collected 123 "Recommends". Must be close to a record.

Thanks again, Alfa.

@Alfacomp has compiled evidence of recent and sustained market manipulation in BMN shares, and has today submitted a formal complaint to the FCA on behalf of all BMN investors. A demand for swift and in depth investigation by the FCA extends beyond the interest of investors and the company, to the integrity and reputation of the London stock market as a whole.

How we are best able to support this action will presumably become clearer with time, but meanwhile may I urge any holders at all concerned by such possible irregularities to "Recommend" @Alfacomp's initial post under this thread, posted at 07:46 this morning (currently at 82 recommends).

If nothing else, this will give @Alfa and the wider Bushveld Shareholders Association added motivation to continue their efforts. It should also indicate the depth of alarm felt by those of us who are concerned that the BMN SP may be being manipulated, and send a clear message to any structures behind such malpractices.

@Alfacomp: absolutely brilliant.

Q: you make reference to "the ongoing case ref 205882095". Does this imply that a complaint has already been filed? Can you provide any further details.

All BMN holders: may I suggest that Alfacomp's post at 07:46 merits one of the largest efforts to Recommend? It currently stands at 36 recommends, while more than 100 should be appropriate?

Fortune Mojapelo, CEO of BMN, and AVL's MD Vincent Algar attending the China Rebar Conference in Xichang - discussing the importance of the new rebar standard which incorporates an increased requirement for vanadium
https://twitter.com/AusVanadium/status/1116219613862404096

This is not new information, but perhaps again worth drawing the attention of new holders or researchers to one of the recent commentaries by John Meyer, mining analyst and partner at SP Angel, on the exciting prospects for BMN (starting around 10min):
https://audioboom.com/posts/7158879-aidan-bishop-of-bigdish-and-john-meyer-from-sp-angel

I extracted these quotes from John Meyer's audio (already posted by me back in January, but worth a re-read):
"The big news out today is BMN, who reported their Q4 production... EBITDA came in at 107M$ for the year, 39M$ for the last quarter... that's a very good operating profit number... this gives me a lot of confidence... I can see this company going from strength to strength; when you look at the forecast cash flow generation out of this business for this year and going forwards. It's got so much going for it. I really feel this is going to be a leading company in London for the next few years... they only acquired the Vametco vanadium operations just over a year ago, so they've really gone from nothing to huge value generation in what was a spectacular deal."