Member Info for Nickderby

No doubt there will be a matching 1m trade shortly. Obviously they are some sort of matching contra trade as they are not affecting the quoted bid/offer levels in the slightest.

Millions of course, lol. Around $246m pa gross profits. Say $185m net profits. Our share 64%.

Mokopane. Annual production 9,525 tonnes V2O5. OPEX $7,200 per tonne. V2O5 price today is $15 per lb, which is $33,000 per tonne. Therefore profits of $25,800 per tonne Around $246 pa gross profits. Say $185 net profits. Our share 64%. Seems a reasonable resource! :)

LS - exactly. Using the production guidance of 3,680 tonnes, FeV at $75 per kg and all in costs of $25 per kg (conservative), Vametco generates $184m net profits, our share is $107m. That gives us profits after tax of £57m and a forward PE of just 4.11 at the current share price of 21.85p. A fair PE of 15 would increase our share price to 80p. Production increases to 5,000 tonnes pa next year, increases our share of profits after tax to £77m, giving us a forward PE of just 3.02. A fair PE of 15 would increase our share price to £1.08. Taking out Sojitz and producing 5,000 tonnes pa at the current FeV price increases our profits after tax to £98m, giving a forward PE of just 2.38, at the current share price of 21.85p. A fair PE of 15 would increase our share price to £1.38. This just takes into account Vametco. Bring on Mokopane, Brits, Bushveld Energy, electrolyte, Eskom, brownfield, Imaloto coal, etc! :)

Clark, agreed. We put up a good fight. Bring on the RNS(s) :)

Max buy with II is just 15k shares at 22p.

BBN In the Evraz Q1 report, they state the following averages for the quarter: Metal Bulletin FeV basis 78% min, Western Europe $61.90. Ryan's Notes FeV 80% min, US ex-warehouse, duty paid $63.32. I realise we have to adjust for the 4 to 6 weeks timing delay, but we are definitely in dreamland when you look at the strength in Q2 also :)

US FeV is now $32.25-33.00 per Ib, that's $70.95-$72.60 per kg. Adding on a 5% Nitrovan premium gives us around $76.23 at the top end. Very nice! I calculate the US FeV average price over the last 12 weeks to be $73.43, that's around $77 per kg of Nitrovan. Q2 is going to be spectacular! https://www.vanadiumprice.com/mb-non-ferrous-price-changes-11-05-noble-alloys-bulk-alloys-ores/

Knuttie, luckily we have plenty of news that could fall any day now. It would be very risky selling now, hoping to get back in cheaper and missing out on the news.

I recall Ophidian saying that we have been bouncing off the 20 day MA, which is currently just over 21p. Bounce coming soon, next stop 30p? Get your �1 coins for 21p while you can :)

PP, it’s how we’ve played all season. Let teams have possession and then get them on the break. Fulham will dominate possession again on Monday but our pace on the break will cause you problems. We wasted too many of those breakaways last night. Back to Bushy. Exciting times!! :)

Clark - excellent :) 1/3 of the way there!

Even SP Angel can’t get Largo’s Q1 figures right. Their accounts quite clearly state the following: ‘Expressed in thousands/000’s of Canadian dollars’ on every page of the Q1 accounts. Not US Dollars.

It looks like I acquired Knuttie’s and Jay’s shares this morning. Thanks :)

Alfa, I have had a few more this morning. I'm getting ready for the news! :)

Capa, you still need to take debt and warrants into account to get a true comparison. When everything is taken into account, Largo is valued at a decent premium to BMN, but we will catch up and pass their rating in time :)

Capa, I checked the Largo RNS which states the figures are in Canadian dollars.

Capa, Largo only made Q1 profits of Canadian $45.8m, therefore your figures are well out. Also, as Largo has significant debt, you should be comparing enterprise values. Finally you should look at fully diluted enterprise values as Largo has a huge amount of warrants, which makes their effective enterprise value significantly higher. Bushveld’s production and sales will be increasing significantly in Q2. Sorry I don’t have all the information for you as I’m not at home at the moment.

Largo is doing incredibly well when you consider their warrant overhang. Around 163m warrants/options are outstanding at an average exercise price of 52c!

Quite a demand for shares at 22.5p. 435,000 buys in the space of 4 mins. Now the MMs are out of shares again :)