Member Info for pb940

Oops :)

https://www.bushveldminerals.com/wp-content/uploads/2022/10/BMN_261022_Big-gains-in-production-rates-as-Vanchem-gathers-pace.pdf

https://www.bushveldminerals.com/wp-content/uploads/2022/10/BMN_261022_Big-gains-in-production-rates-as-Vanchem-gathers-pace.pdf

You keep going back to 2018 alfredh when Bushveld had owned Vametco just over 12 months and were obviously learning how to manage the production side of things. You also take no interest in the Vanchem review which provides ample reasons for why they didn't achieve what upgrading the equipment should have include a drop in the grade of the vanadium ore.

I was certain I was going to do 10000 miles a year when I bought my car in 2019 and took out pcp. Turns out what I was certain of when I bought the car was affected by things I wasn't expecting and only managed 4000 miles.

This has obviously upset you in quite a big way so you should probably contact the company or better yet turn up at the investor meeting and air your views in public.

I've invested in quite a few mining companies over the years and they move at a glacial speed and very rarely get into production. I am quite able and willing to wait and see Bushveld mature into a major business. If you believe Bushveld have purposely misled you then you should take them to court. Pretty sure they will be able to provide a mountain of mitigating evidence for why they haven't managed to achieve the production they expected.

I've said my piece and don't really have any more to add as we're just going around in circles.

They announced the work they believed would achieve the expected increase when the work was finished rather than wait a year to confirm it.

I can see that alfredh. They obviously expected the changes made to achieve that, when it didn't they found a multitude of problems in the Vametco Diagnostic Review, presented in 2019. The review also shows they accepted that running the plant at 90% of name plate capacity would be safer for the overall stability of the plant but from that 3400t they would lose 4 weeks a year for maintenance. Over the following years they have dealt with strike action, covid and load shedding meaning they were never going to reach 90% of the name plate capacity. That's what I think anyway.
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Phase 2 of the multi-phase project was completed in June 2018 increasing production capacity to 3,750 mtV. During the commissioning phase, production of the new milling circuit was unable to ramp up to the nameplate capacity. Concurrently, there was a reduction in the run-of-mine ore vanadium grades. These events lead to a reduced concentrate production, lower recoveries and plant instability, resulting in the plant not meeting its capacity target.

Ø The diagnostic review highlighted that no additional capital expenditure is required to achieve a sustainable production of c.3,400 mtV, which represents 90 per cent of the name plate capacity. In order to achieve the production target management will be primarily focused on, among others:

§ Increasing vanadium grade in crushed ore through improved mine scheduling which will result in an increased exposure to ore of higher vanadium content and magnetite;

§ Increasing vanadium grade in kiln feed through improved silica liberation;

§ Increasing kiln availability through improved engineering practices and production throughput; and

§ Sustainably increasing the kiln feed rate.

Just a minute or so from 10:40.

He's sure we're getting close to utilities using Vanadium Redox batteries so it's quite likely demand will increase fr.m that area and I think will be a strong driver going forwards in the next few years'

https://tinyurl.com/3ftbwtev

https://www.investegate.co.uk/bushveld-minerals-ld/rns/q1-2020-operational-update/202005040700067416L/

Other projects underway at Vametco
•?The kiln off-gas project has been placed on hold due to Covid-19 restrictions. A review of timing for completion of the project is being considered and further detail will be provided accordingly. The purpose of the kiln off-gas project is to comply with environmental regulatory requirements and further increase kiln feed throughput. Engagements with the relevant authorities are underway.

https://www.investegate.co.uk/bushveld-minerals-ld/rns/interim-results-for-six-months-to-end-june-2020/202009300736045645A/

Vametco
Phase III expansion project
In Q4 2020, we will commence a pre-feasibility study, estimated to cost ZAR4 million (circa US$240,000) for phase III of the expansion for Vametco to achieve a steady state production run-rate of 4,200 mtV per annum. The preliminary capital expenditure for phase III is estimated at approximately ZAR430 million (circa US$26 million), with most of the cost being Rand-denominated. The capital expenditure and production profile will be finalised after prefeasibility and feasibility studies are concluded.

https://www.investegate.co.uk/bushveld-minerals-ld/rns/q2-2021-and-h1-2021-operational-update/202107210700039458F/

Growth Projects
Vametco Phase III PFS
The scope of work of the PFS for Vametco has been extended to include upgrading the concentrate section to a Semi-Autogenous Grinding mill and life of mine of Open Pit with higher production to supply both Vametco and Vanchem, making Vametco the single ore supply for both operations for the medium-term. Details on the ramp-up profile and capital expenditure plans will be provided once the PFS has been completed, which is expected in Q4 2021.

Then finally they have the following update in June.

https://www.investegate.co.uk/bushveld-minerals-ld/rns/key-findings-of-vametco-and-vanchem-studies/202206221045017984P/

Only providing these links for info, no comment other than time and circumstance required the plans to be changed. I do think that they overestimated the quality of the equipment and underestimated the investment required though.;

https://www.investegate.co.uk/bushveld-minerals-ld/rns/bushveld-vanadium-q4-operational-update/201901300700044697O/

Vametco Diagnostic Review

· Vametco's 2018 production of 2,560mtV was impacted by a total of 37.5 days stoppages and unexpected operational challenges. An estimated 230 mtV of production was lost due to these unforeseen events. The total potential production for the year would therefore have been approximately 2,800 mtV. Following the operational challenges experienced during the ramp up of Phase 2, Bushveld Minerals, with the assistance of an external consultant, commenced in October 2018 a detailed diagnostic review of the Vametco plant performance which was completed in December 2018. The primary findings of the diagnostic assessment are summarised below.

Phase 2 of the multi-phase project

Ø Phase 2 of the multi-phase project was completed in June 2018 increasing production capacity to 3,750 mtV. During the commissioning phase, production of the new milling circuit was unable to ramp up to the nameplate capacity. Concurrently, there was a reduction in the run-of-mine ore vanadium grades. These events lead to a reduced concentrate production, lower recoveries and plant instability, resulting in the plant not meeting its capacity target.

Ø The diagnostic review highlighted that no additional capital expenditure is required to achieve a sustainable production of c.3,400 mtV, which represents 90 per cent of the name plate capacity. In order to achieve the production target management will be primarily focused on, among others:

§ Increasing vanadium grade in crushed ore through improved mine scheduling which will result in an increased exposure to ore of higher vanadium content and magnetite;

§ Increasing vanadium grade in kiln feed through improved silica liberation;

§ Increasing kiln availability through improved engineering practices and production throughput; and

§ Sustainably increasing the kiln feed rate.



Phase 3 of the multi-phase project

Ø The diagnostic assessment highlighted that additional targeted investment is required for the kiln, the leach and crushing circuits to reach Phase 3 capacity. The Company continues to explore several improvement initiatives to further increase production capacity to 5,000 mtV.

§ During 2019 Vametco will continue to progress environmental approvals for Phase 3 of the multi-phased expansion project. In addition, detailed design work and capital estimation will commence with a view to construction commencing in 2020.

https://www.miningweekly.com/article/eskoms-new-grid-plan-says-53-gw-of-new-generation-must-be-connected-by-2032-2022-10-27

roger65, it's been 250MWh (well it was 500MWh briefly when the website was first setup) for years so probably a typo, but that would mean someone has been on the website and changed something, but I can't figure out what.

It may be (probably is) an error but the Bushveld Energy website is showing the Bushveld project pipeline is 2500MWh

I'd say Putin, covid and the south african government could do with a bit of ire while were at it.

Understood Lindon, it is only supposition based on the dates though. Just checked to see if there was an investor call last year around the same time but there wasn't so it is possible it could be to provide further info after an as yet unannounced statement. Who knows, I'm off that week so would miss any excitement until I've dragged my arse out of bed anyway if there is an announcement of any kind prior to the investor call :)

Is the Mustang readmission due by the 28th October (up to and including end of day)

Is that why Fortune talked at the end of the Investor call about providing updates in the Investor presentation on the 8th November?

In respect of the Cuban missile crisis that would have been the result of one person in 1 second giving the go ahead to destroy the planet. This is a potential nuclear explosion that will take years unless we disarm it. Why wouldn't we do everything in that time to not disarm it?

Your other catastrophes would have been, but with the ozone layer action was taken, with AIDS again action was taken, doing nothing but twiddling your fingers is not an option unless your a quitter?

I'm old wyndrum, and feeling older every minute.

In my opinion our generations problems will be nothing in comparison to what will be left for the the next generation to contend with. I think we'll have to disagree on our viewpoints or we could clog the board up more than we have.

Well if you want to be pedantic that's up to you but it appeared you were saying "I'm going to die so why should I care about future generations"

Extra people, old and young, die in the summer when the weather is too hot for their bodies to regulate the temperature. You think future heatwaves that are hotter than this summer was are going to save or kill more old people?

If we tackle climate change then the earth won't become scorched and unable to support crops and have enough water for irrigation.

You may see that as sacrificing old people today but there is an equal chance they could die next summer when another heat dome descends on us.