Member Info for Nickderby

Fyoz, we should be able to catch Largo up (comparably) without paying a dividend.

But I do believe that the announcement of a maiden dividend would send Bushy into orbit! :)

No they don't.
Too much debt to pay down :)

If we look at production capacity, asset share, vanadium price, together with margins, I calculate that Vametco is now worth 64% of Largo (using 3,750 tonnes production and 75% share). Largo is currently CAD$3.15, therefore it has a fully diluted EV of £1.28 billion. 64% of this gives BMN a comparable value of £819m. That gives BMN a value of 73p per share, based on a fully diluted 1.12 billion shares. That is just for Vametco. Also bear in mind that Largo is considered undervalued at its current price. We still have a lot of catching up to do! :)

So much great vanadium news around!

Vanadium! :)

'Chinese vanadium market keeps strong uptrend'

https://www.vanadiumprice.com/chinese-vanadium-market-keeps-strong-uptrend/

'Global vanadium market jumped again'

https://www.vanadiumprice.com/global-vanadium-market-jumped-again-2/

'On September 25, Chinese vanadium comprehensive index is 344.21, up 4.03% from yesterday, up 7.58% week-on-week, up 18.09% month-on-month, and up 124.15% year-on-year.

Ferrovanadium 50% spot index is 330000 rmb/ton, up 6.45% from yesterday, up 6.45% week-on-week, up 20.00% month-on-month, and up 120.00% year-on-year.'

https://www.vanadiumprice.com/chinese-vanadium-price-indexes-soar-again-2/

'Vanadium prices are now at their highest point since 2005, pushing through the magical $US20/lb mark on Friday amid ongoing supply concerns, according to Metal Bulletin data.

And with only three large scale primary vanadium producers globally – Bushveld Minerals, Glencore, and Largo Resources – this supply squeeze looks set to continue in the near term, even with planned expansions designed to increase annual production.'

https://www.vanadiumprice.com/vanadiums-price-is-at-13-year-high-where-is-it-going-next/

'According to statistics from Asian Metal Database, Chinese producers’ vanadium pentoxide flake inventory reached 210t in August 2018, similar to that in July 2018 and sharply down by about 83.6% compared with 1,280t in August 2017.'

Chinese producers’ vanadium pentoxide flake inventory by month from Jan 2017 to Aug 2018 (t)

https://www.vanadiumprice.com/am-stats-chinese-producers-vanadium-pentoxide-flake-inventory-sharply-down-by-83-6-yoy-in-aug/

The last 16 trades have been buys amounting in total to 708,742 shares.
Things are hotting up! :)

Two nice 200k delayed buys have just gone through.
Some decent buying in the last hour.

That explains why the share price has firmed up.
Next stop 30p! :)

I just wonder what the issue of the Mokopane mining licence could do for the share price.

We have an asset with a post tax NPV of $2.037 billion.
64% ownership, so that reduces our share to £1.003 billion.

Even if the mining licence effectively released only 25% of this valuation, it would be worth £250m on the share price.

That's an additional 22.5p, not far off our current share price.

It is an incredible resource! :)

The boobs are back!
Always nice to see :)

In their latest broker note, ARC are forecasting BMN’s net profit after tax to be £47m for 2018. ARC are using 3,000 tonnes of production and are also using a conservative FeV price of $68 per tonne for the remainder of 2018. Very low. Yet they still manage to forecast £47m post tax profits. A PE of 15 would give a market cap £705m, 63p per share. A PE of 25 would give a market cap £1,175m, 106p per share. Not bad based on production of 3,000 tonnes pa and low FeV prices of $68 per tonne. There's significant upside on the FeV price for 2018 and significant upside for production in 2019. Bear in mind maximum capacity is now up to 3,750 tonnes pa and FeV is well over $100 per kg and rising rapidly. Roll on 2019 :)

With II it is currently..

28.9p to buy.
28.45p to sell

Bushy now up to 69th position.
We are a certainty for the AIM 100 at next review.

46p gets us into the AIM 50.
That must be a possibility by the next review date at the end of November.... :)

https://uk.webfg.com/index/FTSE_AIM_All-Share/market-capitalization/desc

Vanadium! :)

0308966, you are very welcome.
Thankfully we all stayed the course :)

Another new high today, currently 29.25p.

Expect more new highs every day as the investing community cottons on to the fact that we now own 75% of a cash generating monster and the vanadium world is in chronic deficit!

Exciting times ahead! :)

NT to buy at 29.5p now.
We're going up again.. :)

Max buy is now just 20,000 shares at 29p.
We're moving up! :)