BMN Q4 results coming soon15 Jan 2023 13:03
Vanadium Price averages up to Q3.
9M 2022 ferrovanadium London Metal Bulletin ("LMB") price of US$41.1/kgV, CRU Ryan's Note of US$56.5/kgV and Asian Metals of US$34.8/kgV (9M 2021: US$38.2/kgV, US$37.7/kgV and US$36.5/kgV) with USA prices trading at a premium to the rest of the world
Q3
·2022 LMB Ferrovanadium prices: US$33.8/kgV, (Q2 2022: US$43.8/kgV). CRU Ryan's notes US$50.9/kgV (Q2 2022: US$67.5/kgV) and Asian Metals US$30.4/kgV (Q2 2022: US$33.7/kgV).
"The vanadium price is based on the FeV mid average price for the period, published by LMB for sales to Europe, CRU Ryan's Note ("CRU RN") for sales to the United States and Asian Metals for sales to Asia."
2022 Group guidance
· Production guidance of 3,900 mtV - 4,100 mtV maintained.
· (C1) Production cash cost guidance at each asset is maintained.
· On track to achieve an annualised steady state production run rate of 5,000 mtVp.a. - 5,400 mtVp.a. by the end of 2022..
· Sales volumes and markets have been flexed to maximise revenue by optimising sales of Nitro Vanadium into the higher priced North American steel market and increasing premium vanadium chemical sales into aerospace and petroleum / catalyst applications.
· Demand for Bushveld Mineral's suite of vanadium products remains strong, and the flexibility afforded by the diverse product mix and wide geographic presence is a significant strength when the current reduction in steel capacity utilisation is considered, allowing emphasis on higher value products and markets. The expectation remains that sales volume will equal production volume.
Extracts from https://www.lse.co.uk/rns/BMN/q3-2022-and-9m-2022-operational-update-l8zoqdrp6pnug92.html
So looking for 4000 mtv sales volume. Despite load shedding this should be achievable because of our all ready costed
825 mtv start of year inventory and with Vanadium at well over $40 per kg average for the year despite the anticipated increased costs of generators, the revenue should be significantl as we delivered our highest ever numbers to the US in November and December.
Now with BMN nothing is ever a gimme (understatement) but FM is not responsible for the load shedding, political unrest in SA., the world economic situation and the war in Ukraine.
Not going to mention the other things happening with BMN as until they do and start making money it's irrelevant as AIM is not an inefficient and forward looking market.
The Orion debt of $65 min due November 2023 imo is not a big deal when you consider the capex needed to bring a new project online is probably 5 times that amount with no profits for a least a few years.
Next few weeks should be very interesting.
JMO.
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