Member Info for Pdub

Spectacular Cindercone. We have had a series of good RNSs and you still manage to find a negative! I must admit you are very good at it.

However if I were to advise the BoD about what to do I would say ignore you completely. In all honesty whatever they do you would find something wrong so they may as well continue as normal.

I also am fascinated that some pi’s think they are important enough to stop Directors getting part of their remuneration. Remember our place at the bottom of the food chain so good luck with that one.

With the latest RNSs demonstrating considerable progress behind the scenes I shall vote in favour of the remuneration package. They are doing exactly what I wanted. Building a solid and sustainable business.

Thanks for taking the time and trouble to answer the questions. They were intended to make people think about the positives surrounding BMN and targets and I hope that has been achieved.

I get fed up with reading negative posts about missed targets when the reality is that we know little about the circumstances that led to some of the so called delays, and that in relation to other targets BMN is doing very well.

If my questions and indeed your answers have contributed to some giving more than superficial thought to the topic then job done.

Chipsndips would you agree that whilst BE offers a promising future the main revenue source currently is sales of vanadium products to the steel industry?

If yes would you agree that the most SIGNIFICANT targets today are those for production volume and production costs?

Would you agree that those targets have been consistently met at both plants since the early part of 2021?

Would you agree that their target of commissioning Kiln 3 in 2022 is being delivered?

Would you agree that production at Vanchem is likely to rise this year as per their target?

Would you agree that since refurbishment at Vametco production costs per kgV have been falling as per their target?

Would you agree that with increased production at Vanchem production costs are likely to fall as per their target?

Would you agree that much progress has been made on the construction of the electrolyte plant?

Would you agree that now that all permissions are in place for the mini grid funding has been put in place (apparently without dilution)?

I could add more to the list but those points seem to be most pertinent to where the business is right now and in my opinion should be the focus of discussion here. People keep banging on about missed targets without contextualising that statement or acknowledging that much has changed.

Remember BMN has to be flexible if they are to take opportunities afforded to them. 100% Vanchem acquisition is a case in point. That was something that they could not pass by and will probably be the company making purchase. However it required funding and led to the delay or abandonment of other projects. Some perceive that as missed targets but it is far more subtle than that, it is more about changing priorities. That is the vision that Fortune has and some here don’t get.

Just my opinion

Surely apart from reducing energy costs at Vametco the main purpose of the mini grid is to showcase Solar / VRFB Battery Storage. I am just glad now that permissions are in place funding is in place without dilution. Excellent news.
And an indication of institutional confidence in the project.

Good to see funding in place for mini grid.

Remember Fortune has always stated that he will give news when deals etc done. Keeping to his word.

Pathetic Disgruntled.

Can’t even be gracious enough to simply acknowledge a very good RNS.

Going boating. Enjoy your day everyone and don’t let the miseries put you off.

So the critic (Disgruntled?) I expect to appear and say “Thank You FM and well done on securing outside funding demonstrating institutional confidence in the project.”

Very good RNS and very good news for us in my opinion.

Shorters better stay alert. Looks like news is starting to flow!

The project is part of Bushveld's strategy to demonstrate the greater technological qualities of long-duration VRFB systems when used in conjunction with renewable energy.



The hybrid mini-grid project will provide roughly 10.7% of Vametco's electrical energy while also demonstrating the technical and commercial viability of hybrid mini-grids employing solar PV and VRFB technology at grid parity. Vametco has signed a 25-year power purchasing agreement for the electricity. In addition, Vametco has sold the vanadium for the battery at prevailing market rates.



The project will help Bushveld's mining and processing activities reduce their carbon footprint. CO2 emissions will be reduced by more than 8,000 metric tonnes per year and over 200,000 tonnes of CO2 during the life of the project. This will help Bushveld Minerals meet its environmental, social, and governance (ESG) goals and contribute to South Africa's national Climate Goals.



Bushveld Energy has started the development of captive options with up to 120 MW of PV and 180 MWh of storage within the Bushveld Minerals Group. NESA and Bushveld Energy expect to collaborate on future projects and NESA has been granted a Right of First Refusal to fund any equity in the captive options that is not taken up by Bushveld Energy or its affiliates. As part of a broader, long-term ESG strategy, these initiatives will also reduce the Group's reliance on the Eskom grid, help limit energy cost rises, and lower the carbon footprint of its vanadium production.



The mini-grid will also use locally mined and beneficiated vanadium, demonstrating how VRFB energy solutions can provide more local value for South Africa than any other storage technology and thus ensure a Just Energy Transition in South Africa.



The Vametco project will be one of Africa's first solar mini-grid projects with long-duration storage to be financed as an off-balance sheet independent power producer and deploy one of the largest flow batteries on the continent.

Fortune Mojapelo, CEO of Bushveld Minerals, commented:

"We are delighted to have secured the necessary funding for the EPC of the hybrid mini-grid at Vametco. This project is the first of its kind in South Africa, and will serve as a VRFB reference site in South Africa for the mining industry, utilities and other users. This VRFB mini-grid project is a useful proof-of-concept of the greater technological qualities of long-duration VRFB systems when used in conjunction with renewable energy. At a fundamental level the project also perfectly demonstrates the sustainable uses for vanadium and positions it as a key metal in the green energy transition.



"It is also very encouraging to note that the majority of the capital invested in the mini-grid project has come from sources outside of Bushveld Minerals. This not only proves the attractiveness of the business case for long-duration energy storage using vanadium, but also demonstrates investor interest in the market in the roll-out of VRFB technology.



"In the future we expect to see increased demand for projects combining solar PV and VRFB technology, especially in regions with similar challenges to South Africa."



Percy Ying, Director of NESA Investment Holdings, commented:

"NESA Investment Holdings and the NESA Power Group are proud to partner with Bushveld Energy to develop its flagship renewable energy project for Bushveld Minerals' Vametco mine. In addition to generating long term positive benefits for the mine, the project will also be one of the first renewable energy projects in South Africa to employ vanadium battery storage technology and demonstrate its commercial viability on a large scale. Understanding the value proposition Vanadium Redox Flow Batteries have for South Africa, we are confident that the project, once completed, will catalyse further deployment of large-scale vanadium battery energy storage systems in South Africa and contribute to securing the country's energy future."



Justin Schmidt, Head of Renewable Energy at ABSA Relationship Banking commented:

"We are excited to be part of this project and relationship. The project is another proof point that the ever-evolving market for solar is growing. In addition, it also highlights the important role regulatory reform is playing to enable energy availability for business."

Bushveld Minerals Limited

("Bushveld Minerals" "Bushveld" or the "Company")

Bushveld Energy secures funding for Vametco hybrid mini-grid

Bushveld Minerals Limited (AIM: BMN), the AIM-quoted, integrated primary vanadium producer and energy storage solutions provider with ownership of high-grade assets in South Africa, is pleased to announce that it has secured funding for the engineering, procurement and construction ("EPC") of the Vametco hybrid mini-grid, which is owned by its 84%-owned energy subsidiary, Bushveld Energy Limited ("Bushveld Energy").

§ Bushveld Energy has completed the development and achieved financial closing for a 3.5 MW solar PV plus a 1 MW / 4 MWh Vanadium Redox Flow Battery ("VRFB") hybrid mini-grid project for Vametco, which will operate as a funded independent power producer ("IPP").

§ Bushveld Energy and NESA Investment Holdings, a South African investment firm, have signed a shareholders agreement as strategic equity partners in the project's development and financing, with the project being housed in a separate special purpose vehicle ("SPV").

o NESA has provided 60% of the equity, while Bushveld Energy has provided 40%. Bushveld Energy will recognise a development fee of ZAR5.6 million as revenue from the project upon financial close.

§ ABSA Relationship Banking has approved a ZAR64 million (approximately US$4.1 million) loan to part fund the construction of the mini-grid project.

§ The project's total cost is estimated to be ZAR113 million (approximately US$7.1 million).

o It will be built on a turnkey basis by NESA Power, who have already executed an Engineering, Procurement and Supply (EPC) Agreement alongside the SPV.

o As previously announced, the project's 1 MW/4 MWh VRFB will be supplied by CellCube, a VRFB original equipment manufacturer in which Bushveld owns an indirect 25.25% interest.

§ The Board of the SPV will consist of 5 directors, 3 from NESA and 2 from Bushveld Energy, in proportion to the shareholding.

§ Vametco has sold 26 mtV for the production of electrolyte, required for the VRFB which is currently being converted into electrolyte overseas.

§ Site preparation for construction began in Q1 2022. The project is now fully funded and is expected to be completed in H1 2023.

There are others but can’t be bothered to look them up.

Yes you have. In fact 27 November 2013, just after you joined, and BMN announced Mokopane Vanadium Project. Positive reaction from market.

Quite so Numpty.

“ The option to implement the expansion in stages substantially reduces Bushveld's upfront capital requirements and allows incremental production to be attained from each stage in order to generate additional cash flows, which can be leveraged for the next stage.”

Been at hospital all day so the bb made interesting reading. I see the usual nutcases (you know who you are and so do we!) would have you believe $150 million dilution coming. IDIOTS.

READ the quote above from the RNS. This is a forward looking statement outlining the expansion plans over the next few years … EXACTLY what we needed to hear.

They are likely to involve a substantial amount of self funding through revenue, which together with profit will grow with time.

At no point does the RNS suggest substantial dilution required.

Coffee cups you are so transparent. Perhaps you should read on:

“ Thus, whilst our commitment to growth remains, we have the liberty to pursue the new growth plans only once we have achieved our production performance targets on delivering sustainable cash generating production at the production rate of 5,000 - 5,400 mtVp.a. and improved our balance sheet capacity to invest in such when funding has been secured.”

So not all at once but as and when appropriate and affordable.

Revenue and profit will likely pay most if that.

Surprised you didn’t get that bit. Or did you …. Your agenda thickens.

That is a fair point about Eskom I agree UKsteveg.

However did you read the rest of the post? Let me remind you:

“... The list of failures is endless - I accept that some are outside the control of BMN (SA politics, V price) but to fail even to deliver your OWN minigrid on time is a PR disaster of Ratneresque proportions.... “

Call me old fashioned but to say the list of failures is endless is a major negative and inaccurate statement. By that token the list of successes is infinitesimal !!!

I absolutely stand by my previous post but fair enough you take a different view.

Goodness Daisydog be careful as I think you are trying to influence people! Lol.

And thank you for making my point.

I post a positive
Beginerman posts a negative
I post a positive
You post a negative
You post another negative

Seems fairly balanced to me. Where is your problem.

Oh and by the way you forgot to mention ANY of the very significant milestones achieved by the BoD over the last 2 years. How does that help with balance?

You folks criticise people like me for expressing positive views yet every post you make is very negative. Discuss.

Beginerman I’m sorry but I do not accept what you have just posted at all.

This bb has always had a mixture of negative and positive posts. FACT. Some have left the bb because of the increasing negativity.

Speaking for myself I tend to write fairly detailed posts giving my views and explanations of why I hold those opinions, supported by the facts as I know them. That is deliberate on my part. I want the reader to understand why I hold those opinions and looking at the evidence presented they are free to agree or disagree.

Every investor is responsible for their own research before pressing the buy / sell button. None of us know the future share price so we can only make our own judgement. If this was easy we would all be very very wealthy … but it is quite the opposite. Even if the market (AIM) responded logically to the business activity none of us know in advance future local or global events that can and do radically impact share prices (eg pandemic, recession, war, etc)

Your little dig wondering how many have been drawn in is quite irritating. If you believe that then your comment should have been balanced by concerns about how many have sold or been put off buying due to negativity on this bb, for example in 2016 just prior to the massive rise in sp.

Most expect the share price at some point in the future to significantly recover, just a matter of when. I wonder if you will then congratulate those who remained positive and held their nerve.

You only need to look at the BMN share price (or many other AIM investments) to understand just how risky this type of investment is. Sometimes it works and sometimes it doesn’t. When successful the rewards can be huge. The rise to 48p in 2018 was just such an event for some. Investors who sold out in the 40’s were probably very happy. Others investing in the 40s are clearly less pleased. That is the risk.

However the reason I remain positive is because the company appears to be building a successful business irrespective of today’s share price. That is what they promised and why I remain invested. Let me assure you that if I thought the business was being badly run I would say so and would probably get out. Comms is useless but the business looks very good in my opinion and I am confident that at some point this will be reflected in the share price.

At the end of the day this bb is for expressing opinions but that is all they are. There are no guarantees whatsoever.

So please no more hindsight blame and focus on what BMN is doing and how you assess their potential. That is more likely to be useful to potential investors rather than looking for scapegoats.

Just my opinion.

It’s ironic that in past years if a new face appeared here and was negative they were called out very quickly yet now is this bb really moving to a position where if a new poster writes something positive they are treated with suspicion?

I do hope that is not the case. One thing is certain … for the share price to rise we need more new buyers. Surely we can play our part in helping them make that decision?

Guys I think you are wrong!

Turkishdreams please don’t be put off.