Member Info for pb940

Thanks fatbanker, thought it was having trouble with the website address , but obviously lse just doesn't like me :)

Have you tried posting it as well Alfa? It's doing my nut in.

I keep trying to post this but it keeps disappearing.

I noticed on the Bushveld website when I clicked on presentations it brought up a registration box for a company called Brighter IR

I reported him cos he's a Dick

Must be saving himself for a 1 hour special or maybe a 2 part vanadium and then a bushveld energy special :)

Cheers pdub

Once again John Meyer gave a hugely positive assessment of Bushvelds management and wishes more companies were run in the same manner, for the benefit of shareholders rather than managements fat salaries.

obvs, has he mentioned how he got bored and sold at 2p yet :)

Not listened yet

https://tinyurl.com/y6x6hh7x

Fortune Mojapelo, CEO of Bushveld Minerals Limited, commented:

"We are pleased to have agreed terms with Yellow Dragon for the early settlement of the earn-out under our 2017 Bushveld Vametco acquisition terms. This represents the final leg of our balance sheet simplification exercise, which we are pleased to coincide with the completion of the Vanchem acquisition, which is expected to complete shortly. We would also like to take this opportunity to thank Yellow Dragon for its support over the years, particularly at the time of the transformational Vametco acquisition. Their contribution to our success, along with their long-standing presence as one of our significant shareholders, is appreciated."



Admission to AIM and Total Voting Rights

Application will be made for admission of the 33,914,729 new Ordinary Shares to trading on AIM ("Admission") and it is expected that Admission will take place and that trading will commence on AIM at 8.00 a.m. on or around 29 October 2019. The deferred consideration shares represent 2.94% of the enlarged share capital of the Company.

Following Admission, there will be a total of 1,153,642,682 Ordinary Shares in issue, 670,000 of which are held in treasury. Shareholders should use the figure of 1,152,972,682 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure and Transparency Rules.

Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer, with ownership of high grade vanadium assets in South Africa, is pleased to announce it has agreed an early settlement of the Yellow Dragon Holdings' earn-out payable under the Bushveld Vametco Limited acquisition agreement.

The early settlement is in line with the Company's strategy to simplify its balance sheet and corporate structure while taking into account current market dynamics. This strategy has seen the Company acquire Yellow Dragon Holdings' interest in Bushveld Vametco Limited, acquire all the shares in Strategic Minerals Corporation that it did not already own and redeem the preference shares in Bushveld Vametco Alloys that were held by Strategic Minerals, a wholly owned subsidiary of Bushveld Minerals.

As part of the Vametco acquisition terms announced on 30 November 2017, Bushveld Minerals agreed to make further deferred payments to Yellow Dragon as follows:

· Two deferred payments of US$0.6 million each, payable following publication of the accounts for Vametco Holdings Limited for respectively the years ending 31 December 2018 and 31 December 2019; and

· A final payment to be made on publication of the Vametco Holdings Limited accounts for the year ended 31 December 2020 to be calculated by reference to Vametco Holdings Limited's EBITDA for the 2020 financial year. The payment being calculated on the following basis 4.5x EBITDA (as shown in the 2020 Accounts) x 5.91 per cent.

The Company has to date paid the first of the two US$0.6 million payments, following which the two parties agreed on an early settlement for the balance of amounts payable to be settled as follows:

· Full and final settlement of the earn out of US$13,500,000, being an all-in total payment comprising:

o A cash component payment totalling US$3,000,000; and

o A total of US$10,500,000 payable in 33,914,729 Bushveld Minerals Limited ordinary shares of 1.0 penny each to be issued at a price of £0.24 (which favourably compares to the 10 day volume weighted average price of £0.235 and the 20 day volume weighted average price of £0.226, as at 22 October 2019).

The shares issued to Yellow Dragon are subject to a 6 month lock-in arrangement and a further 6 month orderly market arrangement which are subject to certain exceptions and may otherwise only be waived with the consent of the Company's brokers.

The cash component of the earn-out early settlement is to be settled on or before 31 October 2019.

https://www.investegate.co.uk/bushveld-minerals-ld--bmn-/rns/early-settlement-of-the-yellow-dragon-earn-out/201910231103598724Q/

Another 'masterstroke' from the team at Bushveld, when will the market recognise their achievements?

Probably wWhen we are no longer on AIM with the 'buy on rumour sell on news' mentality.

Well said AdamP100, we all know what certain posters will focus on in the RNS but it's another great deal by BMN.

This is on the governments website

https://www.gov.za/services/mining-and-water/apply-mining-right

About applying for a mining right
You need permission from the Department of Mineral Resources to mine minerals within a certain area. This is granted by way of a mining right.

A mining right may not exceed a period of 30 years.

A mining right is granted if:

the mineral can be mined optimally you have the funds and expertise to conduct the proposed mining operation optimally
the financing plan is compatible with the intended mining operation and for the duration thereof no unacceptable pollution or damage to the environment will occur as a result of the mining operation you have made financial and other provisions for the prescribed social and labour plan you are not contravening the Mineral and Petroleum Resources Development Act, 2002 (Act 28 of 2002) (MPRDA) the operation is in line with the Mining Charter.

What you should do
Apply online.
Apply for environmental authorisation at the same time.
Pay the non-refundable application fee.
If the system accepts the application, you will be notified. You must then notify and consult all interested and affected parties within 180 days from the date of the notice.
How long does it take

If your application meets all the requirements, the regional manager will notify you in writing within 14 days of receipt of the application if it has been accepted. The regional manager will instruct you to consult with the landowner, the occupier of the land and all other affected parties.
If the application is not successful the regional manager will return the application to you within 14 days.
If the Minister refuses to grant a mining right, you will be informed in writing, within 30 days, stating the reasons for the refusal.

They obviously followed the rules but just saying that between receiving the information, writing the RNS, which wasn't a simple application granted one liner, BMN do what they do and provide more information which would have had to have been approved for release.

This takes time and in that I believe certain people became aware and started the increase in sp. Pretty sure if BMN could they would have preferred to wait a few minutes for the market to close and release it in the morning to get a full days steam out of it.

Personally I hope it isn't RedT, heard enough about them a few years ago to last me a lifetime.

Yes, thats right BlueMonday. But if it wasn't just a coincidence that yesterday was the day people finally decided to take positions with Vanchem coming up then I would suggest that the information became open knowledge to some and forced BMN to RNS the info.

Without casting aspersions knuttie (he says while casting aspersions :) ) I can only assume the leak (if any, yesterdays rise COULD have been purely coincidental) would have come from the mining office.

The following from the the Priorities for 2019/2020 seems to point to BMN picking up vrfb manufacturers?

VRFB manufacturing
• Deploy VRFBs and partnerships with VRFB manufacturers
• Direct sales and project development (provide storage solutions and
develop business case)
• Invest in VRFB original equipment manufacturers