Member Info for Pdub

On HL to sell 22.3p, to buy 22.285. Interesting.

No problem Ophidian.

ps. For what it is worth very pleased to see you posting more regularly. That can only help all of us.

Regards. Pdub.

Capa reading the bb today I have a strong sense that people are trying to help each other or provide useful information. Whether every post is accurate I cannot say but they have been written with good will.

The only exceptions to that are your posts which come across as antagonistic and devisive. If you wish to post great, but please do it in a friendly and non confrontational manner.

This extract from an article in the Telegraph clearly explains that there is a CGT liability with selling shares and buying back in ISA. It can be used to take up the annual CGT allowance.

"The main reason people bed and Isa their investment is to mop up their capital gains tax (CGT) allowance. Every year an individual can effectively realise up to £10,600 of gains, before paying capital gains tax. This is charged at 18pc for basic-rate taxpayers and 28pc for higher-rate taxpayers.
For those with substantial share holdings, or a significant investment portfolio, this can be a useful means of avoiding CGT. To do this shares (or funds) are sold that realise a capital gain, but only up to that year's annual limit. They are then bought back within an Isa. While there will be dealing charges to pay, this effectively moves assets into a CGT-free environment and has the potential for substantial CGT savings."

https://www.telegraph.co.uk/finance/personalfinance/investing/isas/9896924/Bed-and-Isa-How-saving-in-an-Isa-could-cost-you-more.html

Ophidian I am no expert but I believe the part of your post relating to buying shares back in an ISA within 30 days is incorrect.

The shares will become liable for capital gains tax if personal allowance exceeded. In effect ISAs don't exist for tax purposes. My understanding is that you don't even need to declare ISAs. Thus any repurchase of those shares into an ISA would not be recognised either. Thus the tax liability would stand. Hence when carrying out Bed and ISA there would be a CGT liability.

However as I said I am no expert and would recommend anyone in this situation to get proper financial advice. Do not rely on what you read on a bb.

Well there could still be teens eg £1.15, £2.15, £3.15, etc

On HL 19.7 / 20p. Good start.

Vametco numbers updated.

Since the RNS on 21 Dec 2017 announcing completion of the acquisition, BMN owns 59.1% of Vametco mine and vanadium production plant. That makes BMN one of only 3 primary producers of Vanadium outside of China.

Vametco production cost 2017: $16.6 kg V or $16,600 per metric tonne vanadium (mtV)
Price Vanadium (June 2018): $71 kgV or $71,000 mtV (approx)
Current production rate: 3,750 mtV pa

Expected production costs decrease: 7% through economies of scale
Production guidance for 2018: 3,680 mtV (3,050 mtV Nitrovan, 630mtV FeV)

At a vanadium price of $60 kgV (ed. $60,000 mtV) the CEO recently stated that the Vametco plant is capable of generating an Ebitda of $150 million in 2018 ! At $70+ kgV Ebitda should be higher than that. Remember 59% owned by BMN Bushveld Minerals, and it is believed that BMN may be negotiating to acquire Sojitz 15% (to be confirmed)

Production rate by 2019: 5,000 mtV or more pa (that is a nearly 65% increase in production from the start of 2018 and 33% increase beyond the June 2018 target rate!)

One further point. It is my understanding that Vametco's patented product Nitrovan attracts a 5% premium to the price of vanadium.

The sources of this information are either RNS, BMN Presentation or Interview. Opinions are just my own. Links to sources:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BMN&ArticleCode=2v3qf6kj&ArticleHeadline=Q4_Operational_Update

http://www.bushveldminerals.com/wp-content/uploads/2018/02/BMN-121-Presentation7861.pd

http://webcasting.brrmedia.co.uk/broadcast/5a7dbf0ecb5fd9447f49d716

We also have Michael Kirkwood recently appointed to the BoD, a highly experienced former international banker. Read about him here:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BMN&ArticleCode=gqc67f3l&ArticleHeadline=Appointment_of_Michael_Kirkwood

And we now have leading institutional and mining investors on board via the 26 March 2018 placing for £15 million. So the company is well funded to move this very exciting vanadium story forward.

2018 may also bring news on the Mokopane vanadium project, the Brits vanadium project, electrolyte production plant, a brown field development and further progress on the Madagascar coal to power project.

In my opinion a great time to be in BMN as the market appears to be awakening to the idea that BMN is very very undervalued. The recent pull back in sp, for whatever reason, appears to me to be an unexpected buying opportunity!

A very positive end to last week.

Some short term negativity had appeared on the bb during the preceding days and weeks along the lines that the Final Results might push the sp down. Not sure why people thought that but I disagreed and said so.

I am delighted that the negativity was completely unfounded and that the sp went up 5% instead.

I would like to think that we are on the rise again and that the next stop will be well beyond the previous high. I shall be watching market activity with great interest over the next few days. In my opinion this is a hugely undervalued company. Longer term when profit figures for 2018 begin to hit the market I can imagine a very significant rerate. That of course will be of greatest benefit to those that are buying or holding now!

2018 / 2019 looking very very exciting!

All just my opinion.

SOTRR you make a good case for dividends given the windfall profits that Vametco is making. With this level of cash generation I agree that is very feasible to both progress the business plan through reinvestment and reward the shareholders.

From the comment today by the company I think they may be going in that direction. Would be great for the shareholders, but especially the patient LTHs. Would certainly turn a few more heads and boost the sp.

Of course for those sitting on the fence over BMN you have to be in it to win it!

Short comment

http://www.proactiveinvestors.co.uk/companies/news/199853/bushveld-minerals-significantly-progressed-development-of-its-platforms-in-2017-199853.html

Looks like news may be coming very soon on this project. Note last sentence:

"Since the year end, work has continued on this project and manufacturing of the Direct Current ("DC") portion of the VRFB has been completed with factory acceptance gained in April 2018. Site preparation work has commenced at the Eskom site, which has included earthworks and cabling. Two technicians from South Africa have also been appointed to perform the installation and maintenance on the Eskom project. Technicians were trained at UET, in April 2018. This will give Bushveld Energy the capability to install and maintain future VRFB installations in South Africa and regionally. The entire system is still on track to be delivered towards the end of the second quarter of 2018."

No he doesn't!

There is sense in what you say Libero, but pi's are impatient by nature. For many if you don't keep feeding them they leave and the sp drifts. I am not sure that more frequent progress updates would send the sp up but in supporting the sp it may reduce the slide. Then the the next rise starts from a higher base.

I claim no expertise here other than my own observations of sp movement etc over the years.

You make very good points there SOTRR. The morning RNS draws the market's attention to those companies. No RNSs the market moves on and seems to have very short term memory. BMN becomes forgotten again.

Kevkan big apology from embarrassed Pdub. Teach me to read properly. Sorry.

LUCAN whilst I in no way support Trump's policy it is important to remember what his motive is. He wishes to level the playing field for domestic steel producers v cheap imported Chinese steel.

If he is successful then US steel production goes up. The US does not produce vanadium, yet the demand for vanadium in US would rise. More than 50% of Vametco vanadium goes to the US. In theory our US market would rise.

I do stress that I do not support Trump in what he is doing (or anything else for that matter).

Kevkan the few hundred or so diehard Bushy holders like you and me may know that. The problem is that some believe the company could work harder to get that message out to the wider market. That is what JM is doing and what we should be doing if we truly believe in this investment.

What seems obvious to us is most certainly not to the outside world. JM is not addressing you and me - surely it's the uninitiated that is his target, whether retail or City.

Whilst I, like most here, believe his targets are set too low for both V price and sp I understand his conservative approach and would far rather see those targets progressively rising through time rather than sky high targets that BMN never achieve and no one takes seriously.

Just my opinion of course.

Great. More publicity from SP Angel. All helps.

Haha. Just noticed a basic maths error on my part. 5,000 mtV from 3035 mtV (beginning 2018) is of course about 65% increase in production not 40%. So even better then!