Member Info for Pdub

By the way beginerman you won’t like my next post so I am going to temporarily filter you. Past experience informs me of your likely response.

Beginerman without us terrible investors so disappointed with our 10 year investment what would be left to make you feel so superior?

VERL

Shareholding on incorporation:

17 July 2020

BMN 40 Shares non voting

BE 30 Shares ordinary

IES 30 shares ordinary

“On initial incorporation there will be someone who will count as a Person with Significant Control either a registerable person or relevant legal entity in relation to the company.”

This is listed as Bushveld Energy Ltd

The last two entries at Companies House are:

Cessation of BE as person with significant control (17 July)

Change of Registered Office Address (19 July)

Interestingly the original VERL address appears to be the same as that quoted as IES address.

I don’t think either notification specifically relates to any change in shares ownership of VERL. That would surely also have to be notified

I wonder if the date issue is a misprint meant to be 2023 and at end of their year (ie 17.07.2023)?

I agree may be related to MUST deal

I notice this quote in SquirtyFlowers’s post:

“ and the $100 chemical sales being touted on here.”

That needs correcting. As far as I am aware no one has suggested all chemicals sell for $100 kgV. However BMN themselves said chemicals can sell for UP TO $100 kgV. Very different statement and it is that that has been quoted here.

Another number to look for in Q2 Update.

In the 2022 Year Update this is given as $27.7 kgV

In Q1 2023 it had fallen to $25.9 kgV

If as I hope production has increased at Vanchem I would hope to see this number drop further.

Production numbers for March and April suggest that this is a distinct possibility

And that leasing model was developed with Avalon who together with Red formed …. Invinity. It seems to be a very fair assumption that Invinity offer this as part of their service.

BenAlder don’t forget that the leasing model smooths out volatile V prices for the end user. It significantly reduces upfront costs if VRFBs even when V prices are high.

Then Alex you are misreading that paragraph. Essentially you gave an opinion but there are others. That’s it. That should not offend you. And it is you that accused someone else of making a statement that wasn’t true.

I stand by every word of my post.

Alex you are correct in the sense that steel is presently the main market for Vanadium. However your view is too static.

The rate of growth of the VRFB market is rapid with some analysts seeing a CAGR of 56%. We are already seeing year on year the proportion of Vanadium output going into VRFBs rising and therefore the proportion of that supply going into steel falling. This is both the present and the future. The influences on vanadium price are changing.

And remember the main market for Nitrovan is the US where inflation is now down to 3%. It will be interesting to see what impact that has on economic activity in the US and in particular construction over the next couple of years.

You may think that VRFB demand won’t make up for your perceived drop on in steel demand and you are entitled to your opinion. However it is not a fact and many of us do not share your opinion. In fact over the next few years it is quite likely that VRFBs will become the main driver of the V price.

Just my opinion. DYOR.

There are two reasons why I usually but not always post when I have filtered someone.

1) To explain why I no longer respond to their posts. A courtesy you could call it.

2) To make it clear to them that their actions have triggered a sanction. A mark of my disapproval.

What anyone else thinks of my actions or reasoning is their issue not mine.

This debate illustrates why I consider the Q2 Update to be so important.

Vametco data is fairly straightforward as it produces mainly Nitrovan although even then we don’t know the premium that is paid.

Vanchem is much more difficult to predict. Let’s take chemicals as an example. The total produced varies considerably but it can be significant. Eg Q3 2021 when almost 1/3 of output was chemicals and we know that these can sell for up to $100 kgV. That can significantly skew the cost revenue balance.

I am keen to see how Vanchem has improved following the load shedding agreement, what proportion of production is high value chemicals and whether costs per kgV have dropped.

Not too long to wait.

Excellent summary at 14.38 tekanalyst. If I were to add another significant advantage it would be the huge in ground resources that they control

The Brits project guarantees ore supplies to Vametco for decades to come. The huge world class Mokopane vanadium resource has the potential to be another major project by itself.

Interesting article about potential of renewables and storage in South Africa. This country is beginning to wake up to what it has. BMN and BE should have an important role to play. See extract after link:

https://m.engineeringnews.co.za/article/opinion-how-south-africa-could-seize-the-moment-and-build-renewables-and-battery-value-chains-2023-07-18

“The vanadium-based battery value chain, although nascent domestically, also boasts material local capabilities, including vanadium mining and refining, electrolyte production and battery assembly”

The new CEOs CV is impressive and he has just the sort of experience in mining and finance that BMN need. He has made a good start and the agreement to keep Fortune Mojapelo in a supporting role, particularly with regard to energy storage given his knowledge of and contacts within the industry, seems to be a very positive move.

I look forward to reading his opinions about performance and prospects in the Q2 Update.

Hi Troajan. I am aware that some individuals have been making personal comments about me for some time now. Whether they are working together I have no idea and to be honest I don’t care. They are all filtered.

I did try to have constructive debate with some of them but their inability to respond without getting personal just became boring. Can’t be bothered wasting time on them.

These people respond like children so why not let the children play. I just see green boxes on the bb. I hope that others who can see those comments will judge me on what I write and not on the comments that are written about me. On the plus side I find it a much improved read and I can now express my opinions without the silly distractions.

Nobby is on my list so I have no idea what he posted.

I am not a fan of conspiracy theories but if as you say they are trying to wear me down … they have crashed and burned on that one!

Now back to BMN!

With all the nonsense that goes on it is important that some of us remind readers of what the company has achieved to date, what operations and developments are currently happening and what in my opinion we may expect in the future. I will continue to do that as long as I remain positive about BMN.

The new CEO has made a good start and I am hopeful that he will be successful in moving Bushveld forward.

Craig has committed to include his thoughts on performance and prospects in the Update. It will be interesting to read his opinions after 3 / 4 weeks in post. May provide more detail about direction of travel.

One strong positive is that the Dollar Rand has been well over 18 and sometimes over 19 through most of H1. This will help keep costs down

It will be interesting to see what volume of higher value chemicals were produced in Q2 at Vanchem. We are told that prices can be up to $100 kgV.

Vanchem is one area where Craig is going to focus attention. Figures already released for March and April show increased production. I will be looking for that level of approximately 420 kgV to be achieved in Q2. That should help to bring down costs. However plant is still running below target so I am pleased that Craig sees this as a priority and when output gets closer to target then costs should fall further and BMN will get close to the rate of 5,000 kgV plus pa

Vametco appears to be running well at a sustainable level of output and a relatively low cost base. Nitrovan sales to their largest market the US should have averaged about $40 kgV through H1. Hoping to see sustained output and costs under control.