Member Info for pb940

They've had server problems in the past so probably nothing but it would be nice to see the website updated to bring it in line with the main Bushveld Minerals website if only to make them look the same

Can anyone else get on the Bushveld Energy website? I've used the link through the Bushveld Minerals website and through google search but nothings coming up.

Not sure there is much more mining capacity to increase the amount of niobium imported

Alfa, for your trade analysis a chap in work SOLD 22541 at 8:01 @ 26p but it's being reported as a BUY

Hadn't thought of that SquirtyFlower.

Hopefully something soon though.

A bit unusual that there wasn't an interview with Fortune on brrmedia or proactiveinvestors yesterday. Maybe today something will appear or if there is still some other close news to announce maybe early next week after Ramaphosa is sworn in and the world bank announcement on Tuesday.

The Annual General Meeting will be held on Tuesday, 2nd July 2019 at 11 a.m at: 18-20 Le Pollet, St Peter Port, Guernsey, GY1 1WH

He posted the following a couple of weeks ago;

Time for a holiday this end. See you June everyone

Earnings per share came in at 2.9USc vs -0.2USc a year earlier.

Conclusion: Bushveld results record a busy and volatile year through 2018. The figures reflect the innovation of the group, the huge transition made and some understandable expenses in this transition. The results indicate good potential to build on last year and to continue to grow the business with the Vanchem acquisition.

BUY – Target price to be adjusted following further review of income and expenses

Sales from Vametco appear higher than our estimate at US$192m vs our $178m forecast due to our inclusion of a sales discount in our sales estimate.
Sales and distribution costs are split out in the accounts at US$10.7m accounting for much of the difference
There is also some impact form due to the timing of vanadium sales in relation to some big moves in vanadium prices in the year.
The price discount we normally apply to vanadium sales appears to have narrowed in last year’s unusual pricing environment where consumers were competing for available stock and we assume the narrowing of the discount should continue as the market is forecast to remain in a supply / demand deficit.
Cost of sales were slightly lower than expected at US$65m vs our US$70.5m estimate. Again, last year was unusual in terms of Bushveld’s consolidation of its ownership combined with several unofficial stoppages relating to promises made by previous management on a dispute which we believe has now been resolved.
Other Operating Income: The company also made US$7m of other operating income which looks good.
Other mine operating costs and Idle plant costs came to US$5.2m. We would not expect to see significant costs in these areas going forward.
Administration expenses of US$23m include US$8.3m worth of shares issued, US$7m of staff costs, US$1.9m of professional fees and US$5.5m of Other Expenses.
Payments to senior employees, staff and directors were seen as long overdue due given the relatively low salaries previously paid and need to retain the team at Vametco.
The team is now working well, focussing on reducing costs while improving production through the better running of the Vametco plant.
Their expertise should also be of great benefit to the Vamchem plant when it is consolidated into the group and as Vanchem restores production at its idled furnaces.
Group Operating Profit came in at US$95m vs our US$107m due to these additional Admin expenses.
Finance Income at US$2m was balanced by Finance costs of US$1.2m.
Share based payments for Economic Empowerment transactioncost US$3.2m .
Movement in earnout estimate cost a further US$6m and was part of the ongoing cost of acquiring the Vametco mine and plant.
Pre-Tax profit of US$86m was therefore adjusted lower than our US$106m forecast due to the accounting treatment effectively bringing the earnout expense forward .
Taxation of US$37m was higher than our US$30m estimate due to the additional ‘Other operating income’ of US$7m and higher revenue recorded pre selling and distribution costs.
Post-tax profit came in at US$87m vs our US$76m estimate due principally to the adjustments described above.

https://www.proactiveinvestors.co.uk/companies/news/220849/bushveld-minerals-fired-up-by-soaring-vanadium-price-220849.html

Revenues climbed to US$192mln (US$3mln), while pre-tax profits rocketed to US$86.6mln compared to a loss of US$900,000.

Vanadium miner Bushveld Minerals PLC’s sales and revenues (LON:BMN) soared in 2018 as the price of the steel additive shot higher.

The metal is also seen as a potential electrolyte for batteries and excitement over this application coupled with supply issues in China helped the price jump by 149% over the year.

Even though production at the Vametco mine eased slightly to 2,560 metric tonnes, Bushveld's revenues climbed to US$192mln (US$3mln), while pre-tax profits rocketed to US$86.6mln compared to a loss of US$900,000.

Power storage is a key area by Bushveld, which is working with South Africa’s state power utility Eskom to develop a workable vanadium redox battery.

Since the year-end, the company also announced the US$68mln acquisition of Vanchem, which has processing capability in South Africa and is a specialist in vanadium-based compounds.

Fortune Mojapelo, chief executive, said: "Following the refurbishment programme at Vanchem and the expansion programme underway at Vametco, the company will have created a portfolio of processing assets capable of supplying approximately 10% of the global vanadium market.

“This was acquired for less than 40% of the estimated US$500mln replacement cost and used cash generated by the same assets for nearly half (US$100mln) of the cost of creating that capacity.”

Bushveld also said while it was not paying a dividend in 2018, going forward it would consider payments based on free cash-flow.

The thing is compass they will try. They won't take it as a whole, they'll pick bits. They won't see the amazing and steady progress that's been made, being made and will be made. They'll just pick. Fortunately still don't care what they say.

Great set of results. Looks like our expectation that they'd leave the dividend to instead further progress the companies ambitions was correct. And personally I give them my full backing to do that.

nm

Boom, get in, thanks Alfa. *goes away to google what Alfa just said :)

Do I win anything Alfa? :)

I would normally expect an interview with Fortune to go alongside an update like todays so can only assume with the results so close he'll do it all in one. Looking forward to it.

I didn't understand what he said but if you look at the trades starting with the 250,000 each trade is half the quantity of the previous trade until 500,000 share total

We are sorry if any short-sellers were hurt in yesterday’s rally.
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Thanks for posting Richken. Was that actually in SP Angels comment or did you add that cos that is funny.

Best of luck today and over the coming weeks pdub. I'm sure Fortune will provide some more news to cheer you up :)

I don’t think I’ve seen one