focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
For an article on the FT just now :
Mr de Ruyter said Eskom was also looking for cheap loans from global development banks in return for the faster decommissioning of decrepit coal power plants. “We have had a number of discussions?.?.?.?there is an extraordinary amount of money available to fund decarbonisation,” he said.
Great article on battery storage and it covers vrfbs and infinity
https://www.ft.com/content/7c07e492-41eb-4488-bc34-77b9d806ed5c
Hello folks.. Just curious to know if we ever established bushvelds % ownership of Enerox?
I noted on Abengoa's website that Enerox is described as a subsidiary of Bushveld.
"The VRFB BESS system will be provided by Enerox Holdings Limited, a Bushveld subsidiary.
In accounting terms I think that suggests a holding > 50% .
The base rate in SA is 6.5% .. add to that the fact that nedbank are lending to an unrated entity ( by the rating agencies) so they need to hold more capital against the facility . Given the base rate I would say they got pretty good terms. All up I think this is a massive positive even if the rate looks eye watering high compared to a Uk mortgage , which PIs tend to use as benchmark !
I don’t doubt that Adam. The point I was making was that they can still take an equity stake using the cash proceeds by buying shares on the open market. That way they are not locked into any of the conditions set if they take equity.. interest rates in SA are at 6.5% currently ..
This on the surface looks to be a great deal. The bit I can’t get my head around is the convertibility.. why would you convert to shares, take a 5% hit and then lock yourself in when you can take cash and the buy shares yourself ?
@ophidian.. totally agree.. for this to be a successful trading strategy you would need to make sure that any sales generate more downward pressure than the buys generate upward pressure. This can only work when volume is low, as it has been for some time. So how do you ensure that your sales create more downward pressure? I think now we understand why our furry friends always arrive when the sp is down. hold tight.. this can't go on forever!
Does anyone know what the 174,520 buy is? I'm sure I've seen that number before. I wonder if you added up all round number sales over the last few months what it would amount to. It might help indicate who the seller is or if the sales are being supported by buys at specific times. eg buy when there is some volume and sell when volume is low.