Member Info for RichKen

Sorry:

I think this is one of the most compelling investments of the 21st Century!

And the story is half told....Fortune said so today

Highlights:
- 2018 Profit after taxation - $49,000,159
- Vametco to increase production first to 3,400 mtVp.a. and then to 4,200 mtVp.a
- Vanchem acquisition and undertaking a refurbishment programme to deliver 4,200 mtVp.a
- building an exceptional team of leaders to drive the Company's future operational performance
- Mokopane, one of the premier greenfield primary vanadium projects in the world - the long-term plan remains to develop Mokopane into a stand-alone, integrated mine and processing plant, producing 5,300 mtVp.a. of >99 per cent purity V2O5 product.
- Brits, establishing a maiden Mineral Resource Estimate before the middle of 2019
- Vametco production anticipated production for this year to be in the range of 2,800 mtV to 2,900 mtV
- The World Bank has also announced a US$1 billion programme to support the deployment of 17,500 MWh in battery energy storage in low-to-middle income countries by 2025. Importantly for vanadium, and Bushveld Minerals, in particular, is that a large share of this energy storage opportunity is of a long duration nature, which suits vanadium-based redox flow batteries.
- Share Performance - In 2018 on a total shareholder return basis, Bushveld Minerals was the best-performing FTSE-AIM Materials stock
- Award Winner - The Company's performance was recognised in Bushveld Minerals being awarded the best African Mining Company at the Mines & Money Conference London in November 2018

Fortune summed it all up - I have often said that "the story of Bushveld Minerals is not half-told yet." We have since successfully acquired Vametco and are in the process of acquiring Vanchem. Post the expansion and refurbishment programmes at Vametco and Vanchem, we will have a production platform with an attractive portfolio of vanadium products supplying approximately ten per cent of the global market, while poised to realise our ambition in the energy storage market by playing a leading role along the vanadium redox flow battery value chain. With these achievements, perhaps the story is now half-told. Much remains ahead!

No one can say this board does not give answers to investors questions!

Where is this company going - To infinity and Beyond!

Share Price - Medium Term Target - 3 to 5 years - Over £5
- Long Term target - much higher than that

I think this will be one of the most compelling investments for the 21st Century.

Wisha, as part of the Vanchem acquisition see RNS:
https://beta.lse.co.uk/rns/BMN/bushveld-minerals-ld-acquisition-of-vanchem-plant-8l29gneqjbd8ore.html

"NEW YORK, May 21, 2019 /PRNewswire/ -- Key drivers for the steel-strengthening
metal vanadium continue to point towards increased demand for the foreseeable
future. A new research report evaluating recent trends and growth
opportunities projects the global vanadium market size to exceed 100kilotons
by the end of 2025, growing at a CAGR of 5%. In anticipation of the metal's
continued rising demand, several projects are underway from vanadium companies
including Delrey Metals Corp (OTC:DLRYF) (CSE:DLRY), Largo Resources
(OTC:LGORF) (TSX:LGO), Victory Metals (OTC:VKMTF) (TSX.V:VMX), Bushveld
Minerals Limited (OTC:BSHVF), and Prophecy Development (OTC:PRPCF) (TSX:PCY).

Across the ocean in South Africa, Bushveld Minerals has been accumulating
several vanadium production assets in the country, including Vanchem Vanadium
Products, and South African Japan Vanadium (a ferrovanadium production
business).

Much of the growth in vanadium's demand is attributed to higher demand in the
steel industry, particularly in new stringent Chinese rebar standards.
However, there has also been a major increase in the development of vanadium
redox flow batteries (VRB's) for large scale storage of wind and solar
generated energy.

Looking to become a large-scale battery storage contender, Bushveld Minerals
(OTC:BSHVF) recently doubled down to significantly increase its vanadium
production. Following the completion of a series of South African deals, the
low-cost integrated miner added the Vametco vanadium mine and processing plant
which is currently in phase 2, to complement its own energy storage subsidiary
that's part of its strategy to develop deeply its deeply integrated vanadium
business."

All very positive statements picked from the Bloomberg report!

So in 2019 so far:
- Bushveld Energy has confirmed the VRFB installation has successfully been installed and is running at Eskom's test facility
- Bushveld Energy will commence the construction of there electrolyte facility in East London which will be operationally ready in Q2020
- Bushveld Minerals have started the full acquisition of the Vanchem vanadium processing plant ready to take ore from Mokopane - the largest known high-grade vanadium asset on the planet with capacity up to 4200 mtV per annum
- Bushveld Vametco has improved its operational efficiencies which have given a record production run rate in March
- Bushveld Vametco has completed a detailed resource study which has concluded the actual resource level in the mine is more than double what they originally thought when they purchased it in 2017.
- Bushveld Minerals reports sales of $192 million and a net profit of $49 million
- Bushveld Minerals are in the strongest position to supply the African Market with Vanadium Electrolyte in 2020 and VRFB from their vertically integrated business which will add significantly to the profits in 2020.
- The Global Vanadium market remains in deficit and prices are likely to become much stronger as 2019 progresses and the currently limited reserves disappear.
- The world leaders are under much pressure to reduce and even eliminate carbon emissions and to make renewables work the energy storage market will become a mega business. Bushveld Minerals will be ready to make a significant contribution to aiding this as the story unfolds.

Unbelievable situation to be in. A very strong story - half told...

Cheers, RK

Finally, I want to thank all our shareholders who believed and bought into our vision. Delivering attractive returns to them gives me immense satisfaction. To them we owe the platform we have created today.

I have often said that "the story of Bushveld Minerals is not half-told yet." We have since successfully acquired Vametco and are in the process of acquiring Vanchem. Post the expansion and refurbishment programmes at Vametco and Vanchem, we will have a production platform with an attractive portfolio of vanadium products supplying approximately ten per cent of the global market, while poised to realise our ambition in the energy storage market by playing a leading role along the vanadium redox flow battery value chain. With these achievements, perhaps the story is now half-told. Much remains ahead!

For the opportunity and privilege to continue developing it, I am thankful.

Fortune Mojapelo
CEO, Bushveld Minerals

So the story is now half told! The second half looks very exciting indeed. I think Fortune is exaggerating. Not his normal stance I know! I still think we have a huge future head and the potential is much stronger than any of us or even Fortune can imagine. But he is a very modest man.

Thanks for delivery Fortune what you have so far. Looking forward to Part II!

Calamari - it is about presenting the information in a away so it is in a complete and explained context.

Without all this information there would have been too many questions. Here it is clear why.

I hope this helps you.

Cheers,
RK

Just for Vametco - This number is very strong indeed!

Vametco delivered an outstanding financial performance in the 2018 calendar year, underpinned by a strong vanadium price which averaged US$81.2/KgV, an increase of 148.9 per cent over the previous year. Sales revenue and EBITDA for the 2018 financial year increased by 131 per cent and 353 per cent, respectively, to US$183 million and US$108 million.

These numbers are staggering.

"Our priorities at Vametco for 2019 are to:

1) Achieve our production targets and sustainably reduce costs. This will be guided by our strong management team, which has been boosted by the appointment of Bertina Symonds as the new General Manager.

2) Continue to simplify our organisational structure to bring senior management closer to our assets.

3) Execute initiatives identified during the diagnostic review, which has sketched a roadmap for Vametco to achieve steady state production in excess of 4,200 mtVp.a. (approximately 85 per cent of nameplate capacity of 5,000 mtVp.a.).

4) Continue to build on our co-operative partnership with employees and local communities. We are in the process of designing an ESOP to align Vametco's workforce more closely with its operational targets. In addition, we will be appointing a stakeholder engagement manager and, we have contracted a financial services provider specialising in personal financial planning, provision of unsecured loans and debt consolidation and counselling to help improve the financial wellbeing of our employees."

So there you have it - 2019 road map provision for Vametco is to achieve 4200 mtV per year!

"Mokopane:
Mokopane, one of the premier greenfield primary vanadium projects in the world, is a key element of Bushveld's vanadium strategy. Mokopane has been identified as a primary source of feedstock for Vanchem as a result of its large mineral reserve. The Mokopane-Vanchem model will create a fully-integrated business in a shorter timeline and at lower cost than developing Mokopane as a stand-alone operation. The conditional acquisition of Vanchem also provides product optionality, as Mokopane V2O5 can be toll treated into ferrovanadium at Vanchem. Other options include supplying ore to other primary or secondary producers worldwide. The long-term plan remains to develop Mokopane into a stand-alone, integrated mine and processing plant, producing 5,300 mtVp.a. of >99 per cent purity V2O5 product."

These plans not only realise our thoughts but exceed them!

Thanks Lionel, No just transporting my good lady for her Radiotherapy session today.

2018 Accounts:
Well, this answers all the questions and paves the way for a very strong future.

Dividend policy made open:
"This framework provides flexibility to support greater value creation for shareholders as it enhances the Company's ability to invest in growth projects while maintaining a strong balance sheet.

The Company recognises that while the value proposition to shareholders is primarily of a capital growth nature, it will have sufficient cash generating capacity to pay dividends in the future. On this basis the Company's Board of Directors takes this opportunity to announce the establishment of a dividend policy. The dividend policy reflects Bushveld Minerals' commitment to return cash to shareholders while prioritising its stated growth strategy. The dividend policy is based on a free cash-flow pay-out ratio. The Board believes this distribution approach is the most suitable for the Company as it takes into account both growth and acquisition capital expenditure. The Board will review the free cash flow generated by the business, the outlook for business conditions and priorities for capital allocation on an annual basis. The Board is not recommending a dividend for the year ended 31 December 2018."

Lastline on dividend, was very sensible and money is being used very wisely.

BE:
"Meanwhile the growing global adoption of stationary energy storage presents long-term growth opportunities for vanadium and for a company such as Bushveld Minerals. Driving the adoption of stationary energy storage is a confluence of several factors, including the growing share of global energy consumption that is derived from electricity, the move to cleaner renewable forms of energy generation, and the growing need by utilities world-wide to better optimise their generation and transmission infrastructure.

This confluence of factors could not be starker in South Africa. The government is driving an aggressive adoption of renewable energy as it moves away from a centralised, coal-dependent model, incentivising distributed embedded generation by the private sector while its national utility, Eskom, looks to battery energy storage to help it optimise its transmission infrastructure through a 1,400 MWh battery energy storage procurement programme. The World Bank has also announced a US$1 billion programme to support the deployment of 17,500 MWh in battery energy storage in low-to-middle income countries by 2025. Importantly for vanadium, and Bushveld Minerals, in particular, is that a large share of this energy storage opportunity is of a long duration nature, which suits vanadium-based redox flow batteries."

Very good outlook there then!

Very good indeed.

Well Fizzy, I think it is time you got busy!
You need to go to the Bushveld Minerals website and start reading the presentations on there and learn about the business.
This will help you no end.
Thanks
RK

I think today's resource RNS highlights what a strong asset Vametco is in its own right. Uptil today we have been thinking we need the Brits extension to give the comprehensive LOM. But todays figures highlight that infact the Vametco mine has a much larger resource than was thought and that the amount of vanadium in the ore is at a much higher level than previously reported.
This single RNS gives Bushveld Minerals a much stronger mandate to invest at Vametco and increase its production capacity to 5000 mtV or higher when the market requirement is there. If these numbers are good then the strike extension into Brits will just underline and extend the Life of Mine (LOM) considerably. But the amount of vanadium here is quite incredible.
We are all excited by the opportunity Mokopane gives the market feeding directly ore to China as well as ore to be processed at Vanchem.
The combination of the assets adds up to a huge value of vanadium in the ground of circa $315 billion based on $45 per kilo. This is some asset. When you consider that Bushveld Minerals has a market cap of £319 million, with assets in the ground of £242 Billion, let alone the potential when the vanadium is processed into electrolyte for VRFB.
You can start to see why these asset numbers are quite mind blowing and why som many of us get rather excited by this company.

These excludes the iron ore we discussed last night which at some time can be developed and shipped too when the right of take agreement is unlocked once the vanadium operation is fully developed or the pricing is right for the potential to be realised.
So when someone says to you well were will all the vanadium come from for these new batteries you will be well informed and you can point them to these numbers.
The business is becoming so successful we are already loaning money to Afritin to help them develop! Most companies in this sector have significant debt, we are actually loaning out our profits. Largo has a large debt, AVL will have a large debt once they have developed there asset and mine as will many other USA potentials as they try to jump into this large potential market.

But Bushveld Minerals, the "little South African mining and process company" set up in 2013 is already potentially the number 1 vanadium miner and asset holder on the planet.

Our current 90p broker target is peanuts compared to where this company is going to be.

Next exciting RNS will be 2018 Audited Accounts with a potential surprise for investors.

I think our friend Mr John Meyer from SP Angel will be have to write another apology to our shorter friends, as yet again they will be left with a nasty hole in their shorting pockets. They would be better investing the money they have made and watch it grow much more quickly and have more relaxed lives.

Excellent result and yet another reason today has been made super clear why this is an investment of a life time in my humble opinion.

Cheers, RK

Pdub, All the best with this next cycle. The side effects are so difficult.
My good lady is still having chemo daily and radiotherapy too. She has 7 more days to go, but nausea and tiredness are just so difficult. After surgery and the ongoing visits to the hospital it just takes it out of you.

Just keep strong as she is and you will do really well. Thoughts and prayers are truly with you my friend! If your defense of Bushy's fundamentals are as strong, as for the dreaded C you will back at very soon indeed. Take care and rest!

Cheers, RK

No that was from SP Angel! I might ask John Meyer why he is sorry! It would have been even funny if he had done a Knuttie!

"We were delighted that so many short sellers got completely toasted! About time and good riddance! Now the company can be allowed to reach its true value and our target price" - That is what John Meyer should have written!

Cheers, RK

hare price movements

Bushveld management commented yesterday on the company’s share price movement.
Management state “it is not aware of any corporate developments that support such a movement. The Company notes the recent falls in the Vanadium price but believes the vanadium market remains in a structural deficit that will support higher prices in the medium to long term”.
The stock which opened at 22.75p yesterday morning and fell a further 11% to 19.5p then rallied by around 50% to 29.5p following the announcement.
We are sorry if any short-sellers were hurt in yesterday’s rally.
*SP Angel acts as Nomad & broker to Bushveld Minerals.

Bushveld Minerals* (BMN LN) 28.5p, Mkt Cap £319m – Vametco ore reserve grade rises to 2.02% as reserve more than doubles to 279,100t of V2O5 in magnetite

BUY – Target price 90p (Bushveld Minerals hold 9.5% of AfriTin which has the Uis mine in Namibia) (Bushveld holds 71% of the Vametco mine and process plant in South Africa)

(Bushveld recently agreed to buy 100% of the Vanchem process plant and associated mine in South Africa.

Bushveld Minerals report a significant increase in the grade and scale of the vanadium reserve at the Vametco mine in South Africa.
Drilling and reserve evaluation shows the grade to has risen to 2.02% V2O5 in magnetite from 1.96% estimated previously.
This is a meaningful increase in the grade and shows the Vametco to still rank as one of the world’s highest grade vanadium mines.
Ore reserves have also rise to 279,100t of contained vanadium in magnetite from 137,152t previously.
Indicated resource, which are less well defined, also rises by 187% to 965,900t of V2O5 in magnetite due to a number of recently completed drill holes.
Probable ore reserves are 48.4mt across the three seams averaging a grade of 2.2% V2O5 and an average magnetite content of 28.5% in whole rock.
The Lower seam varies from 13.8-52m in thickness with 40.2mt grading a higher 2.05% V2O5.in magnetite and an average magnetite of 29.4% for 135,600t of vanadium.
The figures reflect the work done on the geology and an new focus on better managing and scheduling the mine which should add meaningfully to the operations.
Ferro-vanadium

Ferrovanadium prices stabalised at $35-36/kgV in Europe last week.
Prices are now at $35-39kgV in China having fallen to better match European levels.
European buyers have held back from vanadium purchases due to slowing German and Eurozone economic growth, recession in Italy and the potential impact of Brexit.
AfriTin facility

Bushveld Minerals have agreed to provide working capital support financing for ~$2.1m to AfriTin.
The 12-month facility to AfriTin is intended to provide working capital through the commissioning of AfriTin’s ‘Uis’ tin mine later this year.
The standby facility interest rate is at 12.5% and is secured against AfriTin’s process plant though it would be odd if having spun off AfriTin if Bushveld were to effectively repossess the operation.
Certain conditions apply to the drawdown including the completion of a £3m funding at AfriTin.

You are right Pdub. It is great to welcome many new posters to the board today.

The true fundamentals in this company have been remained all the way through, as I pointed out in my post last night and well reinforced by Pdub and many others.

The question we all had after the last few weeks was how low could it go and at what point, the short would be closed and we would have a huge upturn. today we had the answer, and it is number I don't think anyone back in November would ever think we would see again - 20p. It was getting to point that we looked in disbelief. But the incredible key points meant that there is no doubt that this as a temporary.

Todays finish if anyone bought in today in the 21 to 23p range you were very fortunate indeed. With a target price of 90p. That is a very good buy in price.

Those two RNS's at 11:00 and 11:05 were the signs something serious was happening. Clearly, Fortune and the BOD saw this too, and stepped in with clear reassurance that two pieces of news are imminent and the company is a very strong position, which all well-researched holders well know.

The turn at this point was as expected very quick and very strong. But to be fair we have much further to rise and potentially very quickly.
There is no doubt the 2018 audited accounts will be very strong indeed, and once the market actually sees this information in black and white there will be many on the sidelines who will see what a transformation Bushveld Minerals has made. Yes we had the benefit of high vanadium prices, but those may well return just as quickly as they have recently fallen and the 2019 average could easily be around $75 per kilo. This would again give the company very strong profits, given the information about costs in the Q1 Vamteco RNS.
Then with the 2018 accounts update, we lead to expect a dividend policy. What that will outline is not clear but to have this in place is great for all shareholder in the long term and often essential for large institutional investors both UK and around the world.
The company resource update will also have some very important information based on Vametco and Brits. Mokopane is already as it was tested and clearly stated in the historical PFS information - http://www.bushveldminerals.com/wp-content/uploads/2017/08/201602040458050.pdf
Total resource is around 440 million tonnes of vanadium containing ore with circa to be confirmed of around 7 million tonnes of vanadium. Note this is currently the largest known reserve on the planet.
If and this seems very likely that the Mokopane licence is confirmed very soon we will have the immediate opportunity to be the largest producer of high-grade vanadium on the planet with ultra-low production costs.
Add this to the huge potential for Vanadium Electrolyte with Bushveld Energy with the fast growing VRFB Stationary Energy Storage and you really have the hottest vanadium producer in the world.
The long term future for this company is more than pheno

Just over £40 million based on a quick calculation.
That is quite a strong ratio to consider that this company is seriously undervalued.
But this price can’t be around for long.
Maximum 6 weeks till accounts published
JSE joint listing confirmation
Mokopane licence very imminent!
Pressure building on FeV prices as stocks fall low
VRFB manufacturing growing day by day

Exciting time to invest here after your hard research in my opinion!

Cheers RK

Not sure if this has been posted before but this is a must read:
https://stockhead.com.au/resources/how-can-the-battery-sector-hedge-against-volatile-vanadium-prices/

Excellent post Pdub! Many thanks for backing this up. At $100 per tonne we have some value there right now.
I am desperately sorry how much abuse is given by people who seem to have to scrape the barrel of life to get there kicks. What is worse my friend is knowing you are going through such a tough time with cancer treatment at yet they still treat you like this. You are defending your investment which you have put so much effort into and your beliefs here as strong as ever. As are mine.
As they say I am sure we will have the last laugh. Keep strong Pdub!
Thanks to you!
Cheers
RK

Thanks Paludina, and we are sitting on how many millions of tonnes of Iron Ore and Phosphate. That number might be a magic number to awaken yet another very valuable revenue stream. In fact when Bushveld Minerals was set up in 2013 it was aiming to be an Iron Ore miner.
Yet another very good reason to unlock more opportunities for BMN. I am sure Pdub will have the figures at hand to enlighten those interested!