Member Info for Nickderby

A delayed buy of 500k has just showed up, not mine. Huge buying today!

Hopefully it’s the last of the warrants being pre-sold.

I’ve bought another 500,000 today. Bargain prices not to be missed! :)

Remember this quote from SP Angel... ‘Bushveld’s acquisition of Vametco is transformational for the company adding cash flows, profits and the potential for DIVIDEND distribution depending on vanadium prices’ Well the FeV price has rocketed and Company dividend policy is being announced in H2. ‘Bushveld is committed to delivering attractive returns to its shareholders. During the second half of 2018, the Company will define a capital allocation framework, which will outline the Company’s approach towards shareholder returns, including a dividend policy designed to encourage capital efficiency, to support the Company’s growth initiatives while simultaneously rewarding investors.’ The level of cash being generated by Vametco is so high that it allows BMN to reward its shareholders and still have enough cash to invest and generate future growth. What an incredible time to be one of only 3 primary vanadium producers in the world. BMN will bounce back so quickly, once this industrial action is cleared up. Cash elephant 🐘

It may take just over a year’s profits, if we allow for tax 💰

An update of Mokopane economics based on the current V2O5 price. Forecast annual production 9,525 tonnes V2O5. OPEX $7,200 per tonne. V2O5 price today is around $20 per lb, which is $44,000 per tonne. Therefore gross profits of $36,800 per tonne. That gives around $350m pa gross profits. Say $285m net profits, after royalties, depreciation and admin costs. Our share 64%. Mokopane Post tax NPV at $20/lb is $1.693 billion. Bear in mind these figures are for a small proportion of the Mokopane resource (about 1/6). Incredible figures and an incredible resource. Bring on that mining licence. Please! :)

Currently 19.99p to buy.

Agreed BBN. Incredible amounts of cash being generated by Vametco! :)

BBN, what an incredible weekly jump! The structural vanadium supply deficit is having a huge effect on FeV prices. The latest FeV prices.... China $79 - $82 per kg (31/8). Europe $84.5 - $85.2 per kg (7/9). US $85.8 - $86.9 per kg (7/9). Fantastic! Roll on $100 per kg :)

Buys have just overtaken sells for the day.

Current buy price 20.44p

South Africa’s all share index currently has an average PE of 14.51 and the top 120 AIM companies have an average PE ratio of 25. It’s very easy to see why BMN will trade at a level significantly higher than this. PE ratios are based on growth. The higher the growth the higher the PE ratio. I don’t need to tell anyone that the growth prospects here are incredible. As we are a growth company, we should attract a much higher PE ratio than the average. Just consider our potential growth prospects with production growth through Vametco, Brits and Mokopane. Plus brownfield acquisition, plus electrolyte production, plus VRFBS, plus Eskom, BE, Lemur, Afritin and Sojitz acquisition. Also, the huge structural vanadium supply deficit. This will be even greater in November when the new Rebar regs kick in. Imo, the market will assign a PE ratio significantly higher than 15 (over the next 12 months) as Institutions start to buy into the Bushveld story, VRFBs and the large structural supply deficit. Bring on 30p, 50p and £1. Its going to happen... DYOR

YTSS, I trust FM to sort out these matters very quickly. Bear in mind maximum capacity is now up to 3,750 tonnes pa. ARC use 3,000 tonnes for 2018. Taken from their latest ARC broker note... ‘We raise our 2018 consolidated EBITDA estimate by 40%, to £91m (£54m attributable). ‘ So with a conservative FeV price of $68 per tonne for the remainder of 2018, ARC calculate £54m Ebitda for 2018. Let's say £50m pre tax profits. Therefore post tax, say £39m. PE 15 - Market cap £585m, 53p per share. PE 25 - Market cap £975m, 88p per share. Not bad based on low production of 3,000 tonnes pa, low FeV prices $68 per tonne and only including Vametco at 59.1% ownership. There's significant upside on all of those figures. No concerns from me about a few days of industrial action :)

The odd day or two of industrial action is certainly frustrating, but I’m just concentrating on the fundamentals. Production is increasing. The FeV price is increasing due to the structural deficit. This structural deficit will be around for a minimum of 3-4 years. The new Chinese rebar standards being introduced in November will increase this deficit even further. We are already making excellent profits. Cash flows are very good. Dividends are being discussed in H2. Then we have huge future growth to look forward to with further production increases from Vametco, Brits and Mokopane. Also, a brownfield acquisition, electrolyte production, VRFBS, Eskom contract, BE, Lemur, Afritin and the Sojitz acquisition! Shareholders can only lose out by selling too early. Keep things simple, concentrate on the fundamentals and remain patient. That’s my plan anyway. But of course DYOR :)

Largo had the truckers strike, which affected them in May this year.
They lost 4 days of production.

I'm not sure of any others recently.

http://www.largoresources.com/investors/news/press-release-details/2018/Largo-Resources-Provides-Update-Regarding-National-Truckers-Strike-in-Brazil/default.aspx

I love the headline!
'Vanadium prices soar again amid the returned consumer demand' :)

'www.ferroalloynet.com: Vanadium market sees the price increase again since the steel mills release much consumer demand for ferrovanadium and vanadium-nitrogen. The supplies of ferrovanadium and vanadium-nitrogen are quite tight and the manufacturers have to arrange the order to October. With limited quantity of raw materials (caused by the environmental check), great consumer demand and quite low inventory, Chinese vanadium prices are increased sharply. However, the suppliers with small quantity of spot cargoes are unwilling to sell, waiting for the price further increase.'

https://www.vanadiumprice.com/vanadium-weekly-review-september-3-7-2018-vanadium-prices-soar-again-amid-the-returned-consumer-demand/

Back to level for the day!

I went out at 10.15am and have just got back. Missed all the excitement.
What a crazy market!

I can't even buy any at 22p atm.

Daitom, hahaha. Airplane and the Fast Show, both in one post.
Excellent work :)

Pb940, thanks.

'The Department of Mineral Resources (DMR) confirmed on Thursday that it had reopened its regional office in Limpopo, following a two-month shutdown.'

Great news!

Maybe we will now get the Mokopane mining licence issued... :)