Member Info for Pdub

BumblingFool some years ago Alfacomp and myself attended a presentation in London by Fortune Mojapelo. Prior to that meeting we grabbed some food in a pub and he explained to me his plans to create The Bushveld Perspective. I can assure you there was only good intent behind this, and the enormous amount of hard work that went into setting this up has resulted in a fantastic resource on BMN available to anyone that wishes to use it. It was intended to be a central reference point and very much fact based, which it is.

The fact that this creation is fairly unique on AIM is to Alfa's great credit. He deserves unreserved thanks from all those interested in learning about BMN and in having a valuable source of information that can be and is used to counter the lies and misrepresentations posted here by some very untrustworthy trolls.

It is no credit to the world we live in that such work is sometimes greeted with cynicism and mistrust but I can assure you that The Bushveld Perspective is exactly what it says on the label. I for one am hugely grateful especially to Alfacomp but also to the many other BMN shareholders that have contributed to this great resource.

Pdub.

I may have said that before ....

V price rising
SA Government beginning to say the right things
Energy storage becoming hot topic
Mokopane licence done
Production raised and costs down at Vametco
Vanchem now on the books and in production
BMN gaining some attention in the media
Etc etc etc

And now share price starting to stir with more buying pressure

Looking good.

V price in China also up today according to AsianMetals. The rises are global and the large gap between China and rest of world has gone.

I believe this is the fourth week of V price rises. These rises will begin to significantly increase profits from Vametco and Vanchem.

This quote is interesting as it shows once again that FM / MN are ahead of the game .... think electrolyte rental contract developed with Avalon. They are not just participants in this market ... they are drivers of it. What more can you ask of this forward thinking management team?

"... we still struggle with the revenue profile inherent to some of those technologies," Advani said. "We're still waiting for that to be a little more mainstream."

Describing the relationship between developers and financiers, Saxena said: "I think that storage contracts are going to go through an evolution as both parties learn what the system can deliver and how do you price this."

Interesting find beatthebroker. Nice for the company to be recognised for its achievements. Thus form p 41:

"Excellence in Battery Metals"

Winner: Bushveld Minerals

"Energy and Beneficiation are two of SA's hottest topics and opportunities. Bushveld is commended for its vision and success in developing a business with vertical integration through vanadium mines, processing and battery technology"

Well said cozza. Let the children play.

Given how everything is lining up so well for BMN it should be easy to keep the narrative on BMN and positive.

2020 looking very exciting for the company in my opinion.

Just to avoid any confusion I agree 100% with all the comments suggesting that BE offers huge potential for the company and its shareholders, and I believe that will begin in the near future.

I disagree that this is the only factor that could push up the sp. Supplying the steel industry is very profitable as V prices rise. And guess what ... V prices are rising significantly. If this continues the market must surely recognise this. Certainly did during 2017 and 2018 and no reason to think the sp won't react positively in 2020.

Looking like a very exciting year to come!

Just my opinion.

It's a fair point knuttie but quite honestly I think given the facts it is impossible to dissociate the sp high from the V price high.

Regards. Pdub

Again Bella I agree with most of your conclusions but it is a mistake in my opinion to label BMN as a one trick pony. It is clearly not. That is the whole point of building a vertically integrated vanadium platform. Hedging against volatile V prices and diversifying revenue streams. To fully understand the complexities of BMN investors need to keep in mind the whole picture. The clue is in the word "integrated" as far as I am concerned. All parts of the business are important.

Let me finish with three quotes from FM. The first supports the notion that BE may well be the main focus in the future, but the second recognises that when V prices rise, as they are now doing, the mining side (which at present largely supplies the steel industry) will do very well. I include the last quote to emphasise that whatever direction markets take BMN will be among the most efficient vanadium producers.

FM 10.08.19
"So we have to appreciate that it's not the most straightforward story and it's one which I think the market will only fully appreciate as we deliver very granular initiatives such as the electrolyte plant and we start to produce electrolyte, we deliver the electrolyte rental contracts and the market can see how that works and how it translates into value. As we deliver deployments of VRFBs and as we demonstrate what sort of partnerships we are going to do with VRFB manufacturers. So I can understand why the story is not yet fully understood or appreciated but I think it's only a matter of time."

FM 11.11.19
"When vanadium prices are high Bushveld is doing very well because of the mining side. Vanadium prices are lower it makes the energy platform a lot more viable and a lot more valuable."

FM 12.11.19
"We want to be the lowest cost producer of vanadium and an important part of that is driving more throughput through the plant and extracting as much efficiencies as we can do."

knuttie much as I would love to agree with you I am most certainly not being 'opaque'. The evidence does rather support exactly what I stated.

The vanadium price reached a peak around mid November 2018 and then started to fall sharply.

The share price reached a peak around mid November 2018 then started to fall sharply.

I think my conclusion was transparent and not unreasonable. In fairness the sp did reach a second peak mid December 2018 and then fell sharply again.

For the record I consider myself to be very open about my opinions and the reasons for them. I am also very consistent and try to support my conclusions with evidence. I cannot guarrantee that any conclusion or opinion I post is wholly accurate but it is my best effort based upon what I understand to be true.

Opaque I believe to be a very inappropriate term when addressed at me.

Bella I agree with all you say except that you like many others seem by omission to not expect much sp movement from profits supplying the steel industry. I would remind everyone that the sp reached 48p+ only on profits at Vametco supplying steel industry and a high V price.

Today the V price is once again rising and significantly increasing future profits. We also have the estimated 1000 mtV at Vanchem which was not a factor in the previous sp high in November 2018. And let's not forget that production at Vametco is now much higher and the cost significantly lower than then. There is no reason to doubt that this sp can rise significantly without BE contributions.

Of course BE contracts would be fantastic news but please remember that supplying the steel industry has been very profitable for BMN and rising V prices are very significant in that respect.

I simply cannot understand shareholders apparently talking down the chances of this sp rising without BE contracts when the underlying factors indicate that the opposite is true.

Recently BMN announced a new rental agreement for electrolyte with US partners Avalon Battery and support for the Avalon / RedT merger. Then they announced an investment in VRFB company Enerox through BMNs VRFB Investment Platform. BMN are being proactive in moving the VRFB industry forward as part of their strategy to build a vertically integrated vanadium platform.

In the latest Quarterly Update we were informed that Vametco produced 880 mtV in Q4, an increase of 56.8% compared to Q3. Production costs were $15.2 kgV - a reduction of 20.4% compared to Q3. So in the mist up to date figures we know that production has increased and costs decreased. 2020 production targets are 3000 to 3200 mtV at Vametco and around 1000 mtV at Vanchem.

An interesting point to consider is that V prices of $30 kgV and production costs at $15.2 kgV then that gives a production margin of nearly $15 kgV ($15,000 mtV). 2020 is looking like a very profitable year for BMN in terms if Vanadium production.

Hopefully we will also see BE contracts begin to appear, giving yet another revenue strand which is expected to grow considerably over coming years.

Most of the above is factual (apologies for any errors) but any opinions expressed are just my own. And here is my opinion of our CEO. He is a brilliant strategist and is delivering on his promise to build a large low cost vertically integrated vanadium platform. Investors saw huge increases in the value of their investments in 2017 and 2018. 2019 was a more difficult year due to the sharp drop in V prices but they are now increasing again. The company continued to put in place the building blocks of its expansion and 2020 should see the benefit of this.

Hope any potential investors find this useful. I would strongly advise you to visit these two links which are the Q4 Update RNS and The Bushveld Perspective website which is a fantastic resource on all things BMN (many thanks to Alfacomp and many other contributors). I wonder how many will share my view that there is much room for share for share price uplift given all of the above?

https://www.lse.co.uk/rns/BMN/full-year-2019-and-q4-2019-operational-update-4bc6tb1b84rvjsg.html

https://www.thebushveldperspective.com

Regards. Pdub.

Several years ago BMN CEO Fortune Mojapelo stated his intention to build a large low cost vertically integrated vanadium platform. This was a very ambitious target for a junior AIM mining explorer with no revenue! However, unlike many AIM CEOs, Fortune Mojapelo is delivering on his promises (and some!).

The first major step on this road (2013) was acquiring the huge Mokopane high grade vanadium resource. It has taken a long time to secure the Mining Right but that has now been delivered.

Launched in January 2016 the creation of Bushveld Energy clearly stated BMNs intention to deliver on the energy storage part of the plan. Soon after this BE announced agreements with UET, a US based energy storage company. More on BE activities later.

Then the Brits vanadium resource was acquired. This is the along strike extension of the Vametco mine and resource ( I remain convinced that this was part if a long term strategy to acquire Vametco by limiting the expansion of that mine unless BMN owned it). Work has since been carried out to define the resource.

Next was the acquisition of the Vametco vanadium mine and production plant. This plant came fully staffed and operational. Due to some good fortune with V prices Vametco was acquired for a knock down price, and soon afterwards became highly profitable due to rapidly rising V prices. Those profits have been wisely used to reinvest in the plant and help secure more acquisitions. Further acquisitions of Vametco have resulted in BMN owning 74% and their BEE partners owning 26%.

For many junior resource companies that would have been enough. Not so with BMN and CEO Fortune Mojapelo. Remember his plan to establish a vertically integrated vanadium platform. Everything else has to fit this plan.

The next major target was a second vanadium production plant in SA ... Vanchem. Again this came as a fully staffed and producing plant and BMN acquired 100% ownership. Significantly this plant offers 3 kilns, 2 of which need to be upgraded to bring back into production, and the opportunity to diversify their range of vanadium products and chemicals. The recently acquired Mokopane licence secures future feedstock to the plant. The acquisitions of Vametco and Vanchem were brilliant strategies, securing up and running brownfield sites much quicker and cheaper than building new plants.

Under construction at East London (the SA port!) is an electrolyte production plant ... a key step in the development of a vertically integrated vanadium platform.

For over a year now a VRFB has been testing for Eskom and another VRFB will operate at Vametco. Both no doubt will be of interest to other potential customers.

To be continued

Continued. It is highly profitable and is benefitting from a rapidly rising V price.

The V market is expanding with the growth of VRFBs for energy storage and BMN is positioning itself to be a leading player in this new market, building partnerships with some other leading companies.

Yesterday the President of SA made announcements that should help the growth of energy storage in SA and BMN is likely to play a key role in this.

The future looks incredibly positive for BMN.

And with the sp at this price?

Just my opinion.

If that is the case then why don't contributors stop whinging about the sp and start giving potential investors reasons to buy in?

BMN has made fantastic progress over the last three years and now owns 2 of the 4 primary vanadium plants outside of China. It has world class I ground resources including the huge high grade Mokopane resource

I think many here will agree with you Sanchez.

However with BMN making such incredible progress towards building a large low cist vertically integrated vanadium platform, with the V price rising significantly and boosting profits from the Vanchem and Bametco plants, with the Government of SA starting to make the right noises, then surely there is only one way this share price is going (whether it is today, next week, next month ...). Am I the only person that thinks that this sp offers a great entry / top up point?

Just my opinion.

Overnight rises reported by AsianMetals

FeV Rotterdam +2.72%
FeVPittsburgh +2.74%

Vanadium Pentoxide also up

http://www.asianmetal.com/VanadiumPrice/Vanadium.html

2020 is looking very exciting for BMN

OH yes ... And for those invested in BMN

Just my opinion.

The progress the company has made and is making is greater than most people had the vision to imagine. That is what people should be paying attention to, and of course the rapidly rising V price!

There are always going to be people that can't see beyond a short term share price. Best ignored.

Yep!

Europe up 2.80%
USA up 2.81%

http://www.asianmetal.com/VanadiumPrice/Vanadium.html