Member Info for Pdub

Another recent quote by Mr Meyer on 11.04.18:

"And BMN is extremely well placed with an electrolyte plant planned and with their own battery technology being produced. They are producing a battery for ESKOM at present. They are part way through construction of that battery and they hope that it will be completed I think at the end of this quarter. That is exciting stuff."

Who else in the City is promoting BMN in the media like Mr Meyer does? I'm not aware of anyone.

Given that BMN have an approach to PR that is not always supportive of the sp we depend on friends like Mr Meyer and this bb to get that positive message out there.

I most certainly don't think MrMeyer gets it right all the time and I expect a higher sp and vanadium price than he is forecasting. However that is only my opinion and certainly does not justify his credibility being undermined on this bb.

Here are some quotes by Mr Meyer from last year that make it very clear that he is a conservative analyst and expects there to be plenty of upside to his figures!!!!!!

"JM in interview on 20.04.17:

"And we constructed a series of forecasts on the company and what this business would do. We think in fact there's every indication that they will exceed our numbers by some margin ..."

JM in interview on 31.05.17

"I expect earnings from Bushveld to truly exceed forecasts and, I think, exceed most people's expectations."

JM in interview on 17.08.17:

"The price in Europe is two times what it was and I was looking at the numbers last night going well this doesn't make any sense. So what we've done is take a very cautious approach to this in our modelling. We've just assumed this doubling of the price lasts just a few months and then we go back down to more normal levels. That has taken our valuation to 14p a share for the company. They are currently 9.5p so lots of upside. In fact I think there's lots more upside than we are reflecting in our valuation. We're being pretty careful with it. We assume the SA Rand stays relatively strong where it is now. We assume they do increase production but we don't assume any benefits to operational costs so I think there's lots of room for additional upside. I think it's a very good prospect for investors to get into."

Clearly acknowledges the possible upside beyond their cautious forecast."

Repeat post:

"The repeated criticisms on this bb by a few posters of John Meyer, Partner and Mining Analyst at SP Angel, are in my opinion neither rational nor fair.

They are not rational because John Meyer has consistently supported Bushveld Minerals at every opportunity in the media. No other analyst is doing that as far as I am aware. Perhaps I am a little old fashioned in this respect but it makes no sense whatsoever to turn on our friends and allies. Trump may think that is ok but I certainly don't.

They are not fair firstly because John Meyer has made it very clear on a number of occasions that his Vanadium price assumptions are very conservative with plenty of potential upside. Second because as of today the current forecast of around 25p has not yet been achieved as a closing price (I think) so remains valid as a target / forecast.
Third ARC have a forecast of 19.8p which has been significantly exceeded from late April through May yet they are not criticised at all when clearly the SP Angel forecast has been more accurate, at least in the short term. (All target numbers taken from TBP)

I don't take much notice of broker forecasts but I do read this bb and so do many potential investors. Attempts to undermine the credibility of our friend John Meyer do not seem to be in our best interests. I look forward to the next John Meyer interview on BMN. Was it not he who dropped a hint as to BMN's interest in Sojitz?

All the above is just my opinion. Clearly other opinions are available!"

Goblesmythe I haven't ticked up those two posts because I consider them highly divisive on the bb. And those two characters know it so deliberately provocative.

Shame. This bb used to be such a high standard. Good luck to you goblesmythe if you think that is the way forward. On that I must strongly disagree with you.

Sorry about formatting of last post.

Gmail Google+ Calendar Web more Unread Ebitda Inbox P Paul Watkins to me 0 minutes ago Details Compass I think there is a greater chance that Fortune has underestimated possible Ebitda for Vametco. I have a figure of $164 million. To justify that I need to clarify my assumptions. 1. That production target figures are met and on time. 2. Production costs assumed to be $18 kgV (that may turn out to be rather high and therefore Ebitda could be higher!) 3. I have assumed that FeV will remain at $70 kgV for remainder of 2018. (May be even higher) 4. I have used FeV prices minus 1 month for purpose of calculation, which gave an average for first 6 months of $ 60.5 kgV. I have not factored in $ Rand exchange rate, which currently is working in our favour. We must remember that Fortune did not promise Ebitda of $ 150 million but said that Vametco is capable of generating that. I expect there will be uproar if it turns out that the Vametco cash elephant is even larger than the CEO indicated. Haha. All the above is just my opinion. Other opinions available.

Oh dear. Logged on and looking forward to reading positives about BMN but what I find is the same old negative nonsense about John Meyer. It is a pointless discussion that has been done to death and adds nothing to the investment case for BMN. Surely those raising this yet again can find find something more positive to discuss than this devisive topic?

Apologies kevkan but I no longer keep track of warrants. Is that info up to date on TBP?

I really don't think our iron ore deposit is relevant at the present time. To understand why I think that please use the link to study the price of iron ore over the last 5 years

http://www.infomine.com/investment/metal-prices/iron-ore-fines/5-year/

It is true that I bought BMN shares as a junior iron ore explorer with possible titanium, phosphate and tin. However the global price of iron ore has more or less torpedoed that idea. Fortune's announcement of Mokopane vanadium in November 2013 has turned out to be a company making direction.

In my opinion with iron ore prices at this level, and no real sign of change, any discussion of iron ore simply confuses the picture as that asset is very unlikely to be developed any time soon. I suppose can't rule out a sale.

Focus on Fortune's vision - the world's largest, lowest cost integrated vanadium platform. And at a time when vanadium prices are very high. Nice! Cash elephant?

Biganuf here is the link to The Bushveld Perspective. It is a great source on BMN and was set up buy Alfacomp for everyone's benefit. https://www.thebushveldperspective.com Our CEO has successfully negotiated some astonishing deals and most here expect that to continue into the future. If you are a shareholder then well done. If not why not? Enjoy the read.

Interesting Tyfoon. Thanks! Good posts Nick.

Daisan I have never invested in shares for the risks involved! And I doubt if many here have either. Let's face it, anyone self investing in AIM junior miners should already be aware of the high risk level. Talk to any financial adviser!! Perhaps I am on my own on this but I only invest for the potential rewards, and given the way in which discussions here over the last few days have emphasised the political situation in SA I feel that it is time to refocus attention on what BMN has to offer potential investors. In my opinion that is all the more important in view of Fortune's reluctant approach to keeping us up to date. It is a valid argument to say that risks should be discussed. However if we want new investors (and we most certainly do) then those discussions must be set in the context of what an exciting investment this is. Otherwise that negativity is likely to put off potential investors. As a lesson in how to do this read BBN's posts. He is a master at the craft of discussing risk but relating it to the outstanding potential of investing in BMN. Sadly few others are so skilled. Let me make it clear that I am not telling people what they should and shouldn't post. I am merely balancing the discussions about risks with my positive views of investing in BMN, and pointing out the danger of overemphasising those risks? If that is a fault then I am happy to be guilty.

Daisan I respect your views and have no problem with your post. However I am trying to balance the negativity, not silence it !!!!! This investment if mine looks incredible and I am happy to shout that out, even if FM isn't.

Getting just a tad fed up with the negativity on this bb re SA. So as a counterbalance remember these numbers? They seem incredibly positive. 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 (end January 2018): $60 kgV or $60,000 mtV Current production rate: 3,035 mtV pa Expected production costs decrease: 7% through economies of scale Production rate by June 2018: 3,750 mtV pa 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 !!!!!!!!!! Remember 59% owned by BMN Bushveld Minerals. Since CEO made that statement the price of vanadium has risen to around $65 to $70 kgV. ($65,000 to $70,000 mtV). That suggests that Ebitda could be significantly higher than the CEO assumed due to the higher price of vanadium. Production rate by 2019: 5,000 mtV or more pa (that is a nearly 40% 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 experienced ii's on board via the recent placing for £15 million. So the company is well funded to move this very exciting vanadium story forward. There is some speculation that BMN may be negotiating to acquire Sojitz' 15% of Vametco, which if true would take BMN share to 74% (this may change under new Mining Charter). 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!

Sorry ... Typo. "... working 18.50 to 19.50p ..."

Unless I am mistaken we still seem to have one or more sellers working 15.50 to 19.50p ish. I suggested a week or so ago that this could be one or more placees taking 90% to 100% profit. At the time people thought it was more likely the Wogen warrants. Clearly the quantity of shares that have now been sold and the absence of any RNS notification of warrants is problematic to this theory. Any thoughts or alternative theories?

"Applications already with the Department of Mineral Resources will be processed in line with the second charter, requiring 26% BEE ownership and the companies will have five years in which to top up to 30%.​" This means plenty of time to sort Mokopane? Also note with respect to junior miners: "For junior miners, who have asked to be exempt from various provisions of the charter, there was some relief. “In respect of junior miners, a right holder may make representations to the minister regarding the extent to which the Mining Charter elements shall apply.” Given that BMN are planning to deliver on just about every relevant aspect of Ramaphosa's mining / employment vision they would be crazy not to assist in every way. I month consultation, legal challenges and political events over next 5 years could all change outcomes.

I will finish by making it clear that I want the Weald to be a success and have made profit from UKOG (no longer invested), losses from DOR (no longer invested) and am about 75% down in ANGS. I need this company to do well. I just hope that Mr Vonk has learned his lessons and does a better job in future. We all have the potential to make valid contributions to a bb. Alan your technical posts are superb. That is your area of expertise. Pboo I am sure many are grateful for your on site reports, pics, etc. Following my wholly negative experience on this bb yesterday I have decided to return to watching from the sidelines. Good luck all.

Alan I am quite heavily invested in ANGS and have an average of about 30p. I bought in at high prices because I made the fundamental error of believing too much of what Mr Vonk said, including the infamous two producing wells by the summer of 2017. Was I foolish to believe that man? Well with hindsight yes - very! That mistake won't be repeated. Despite my anger with him I stay off this bb (I used to be a very positive contributor) as I recognise that others buying in at these prices will have a very different perspective on the prospects for the sp than I do. I don't wish to antagonise them and I also believe that being negative on the bb does no favours to the share price, which I need to rise very substantially! I broke my silence yesterday merely to comment on the posts by ibug that quoted the explanations given by the company on some processes. It was and is my opinion that the company should have done so much more to explain what they are doing in advance, in order to head off these objections and delays. Pboo then commented on the 'greens' and their tactics. I questioned the validity of the word 'greens' as to a greater or lesser extent we are all 'greens' and gave examples. With hindsight it was a mistake to mention another company but I only did so to illustrate that, like many investors, I have investments in oil but also in companies and technologies that could be considered 'green'. That other company by the way is entering the energy storage market so not just a miner and hence the 'green' credentials, but that discussion is not appropriate here. This paragraph from my 10.39 post best summarises why I posted yesterday on ANGS: "The point I was making is that the company need to understand this better, anticipate the kind of questions that could be legitimately raised and provide answers to those questions up front and in simple terms. Indeed like the information that began this thread. Failure to do so will in my opinion lead to further delays in future applications." Sadly my posts were mainly responded to only by yourself and Pboo. The latter trying to label me as a swampy (haha totally ridiculous) and you attemping to discredit me by implying that I had no understanding of mining etc and of course insulting geologists along the way! Alan you know nothing about me or my professional experience. If you did you would realise just how silly your comments were! Neither you nor Pboo showed any respect for me as a contributor to this bb. Sadly I am not surprised. Neither of you appeared to be either willing or capable of reading my posts carefully and respecting my opinions, even if they differed from your own. It is of little surprise to me that the pair of you have dominated this bb with your arguments as that is how you also treat each other. I am grateful to DaveOx who did read my posts carefully and fully understood what I was saying. I will finish by making it clear that I want the Weald to be a succ

Works for me!