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Putting aside the complexity of Enerox ownership, the deal looks good in terms of our ultimate Mustang holding - $2.5m plus 10% pa interest - all convertible at a big discount and 1 for 2 warrants to boot that are pretty much in the money to start with... If I had missed the boat on Must (I did) I would see this as a cheap way to get some exposure whilst the stock is suspended...
o ourselves and
Rather a muted response... The whole deal is perhaps a little complicated to follow. I suspect we will see some interviews here, at Mustang, or from Bushveld and the picture will become more clear. In the meantime I still see some steady buying pushing the price back up to 5p and beyond today..
Hi Skibba I am in BMN too.. hopefully this will help BMN to start being treated like the green stock it is rather than just a vanadium miner..
Surely that makes our 50.5 % worth c$35m pre transaction and Enerox as a whole $70m?
Delighted! I could not be more pleased with the choice of investment. VRFBs are the way forward, I believe, for long term energy storage - It's cheaper and safer than Lithium and the sector is forecast to grow exponentially. Our deal looks good too. I always thought Engage would be the company maker - now we have another GGP scale profit to look forward too I reckon.
Looks like a bed & isa to me. Don't think you would get that price for a straight sale in the current market..
Understand your impatience given your situation comeonsres but I think you have it ar*e about t*t! CS is the big prize - we don't want to sell it on the cheap. A little work making the precious metals projects attractive to JV partners has the potential to uplift the SP so that any funding for initial (low) capital costs can be raised at a higher price. I think many do Patrick a dissservice when they decry a perceived lack of negotiating ability - I seem to remember the diatomaceous earth deal with EP Minerals was pretty good.. As it happens I see an off take deal (or two) with upfront cash payments and only minimal cash rasing from us.. Give him time, wait for the CRMC results and see ..
Seem to remember that last time there was a strike Bushveld carried on selling from stocks regardless or quite a while so let's not allow these troll scavengers to get under our skin! There is also a difference between last time and now - last time the workforce had been let down by the prior owners not fulfilling promises and it took a while for our management to agree a fair deal for all. This time - just a bit of naivete I fear on the part of the staff - low profits in last years V pricing environment = lower profits = lower profit share for staff.. hopefully they will see sense and/ or perhaps management could offer an olive branch via an advance on next year's profit share..
Yes..disappointing..nothing from pursuit minerals though so it may well still be on.. just hope we don't have to pay to extend the option. There is normally a bit of leeway with these things..
Meanwhile vanadium prices are increasing which should help raising the necessary capital..
I think (fwiw!) we should all remove from our mind the traditional PEA, PFS,BFS route for Clogau .. its will never be possible to create Jorc type resource because the g per tonne is so patchy in this type of deposit. The capex to get going with trial mining is small. We just need to follow the veins, dig it up, crush it and screen it. We can then scale up if appropriate using free cash flow.. I like the look of this (although I am here primarily for the Greenland assets .. Graphite, Titanium and Iron Ore projects all look like they could be company makers on their own!..)
A crude comparison I know but comparing Invinity FY 2020 orders of 18.6mwh with Enerox H2 of 13mwh on a full year basis would, if I have it right, imply a valuation of £167m for Enerox. Our 25% of c£42m is not too shabby!
A bridge tooo far perhaps? ;)
AFC mentioned for onc. Apologies if already posted..https://www.express.co.uk/news/nature/1410626/Green-Britain-Electric-vehicles-F1-desert-challenge-in-Saudi-Arabia
I seem to remember that the mine plan was scaled back a little so as to reduce the upfront reclamation bond required. If true, then this is unlikely to be a constraint once we have cashflow (oodles of it!) coming in...
Good to see V prices still broadly on the up in the US & europe. Small price reductions in China may be triggered by this:
https://www.scmp.com/economy/china-economy/article/3125409/chinas-steel-city-tangshan-vows-crack-down-pollution-after - demand for steel won't be going away so this ceates pent up demand for later :)
5 and 3 eighths inches? Is that long.
Good to see Fresho expansion progressing. Also good to see the updated valuation implied by the fundraise - now £1.1m but probably considerably more in truth considering the fundraise being oversubscribed.. We have to be worth a lot more than £6m! Bring on Engage news!
One scenaro for sure... but then what if an outright sale of cs is announced or an offtake agreement with an upfront payment? Too risky a strategy for me!
Increased value in the ground is great but even more important, perhaps, is the increase in profitability on extraction. Cost will be the same, profit increase will be considerably more than 20 %..
Umm.. personally would like them to have set the bar for each tranche a little higher especially since we are currently undervalued so much. I think they could do nothing at all and get there within the next 18 months. That said, they have reduced their salaries and this does align them even more to our interests. Do it quickly and bring something new of value to the table and I will applaud them..