Member Info for SickOfTheRatRace

Sanchez I have sent messages to Bushveld on many occasions and have only ever received one reply.

If a reply cannot be forthcoming because of sensitivity there is no problem saying that, failing to reply at all gives a very negative impression.

@cindercone whilst you make a number of very valid observations I am not sure how to proceed as you said yesterday that BBN was the only person worth listening to on the board. Unfortunately that statement now undermines every future post you make, as if we are to take that opinion at face value you are saying that you are not worth listening to either.

Which is a shame because this board does need balance.

MattD Master Investor is this Saturday. I will be attending so if anyone has any questions they would like me to ask (assuming RP or Plethora are there) then post them here.

To my knowledge JG has never attended, it is usually left to Dr Mike. Obviously JM is there as it's his event, but he is more concerned about life extension opportunities these days.

Indeed they are Headancer, at the UK Investor show last Saturday the panel recommendation for anyone interested in investing in mining right now is to look firmly in the direction of battery metals including vanadium. Their primary recommendation was copper.

The experts know that the move to renewables and electric vehicles are not going away. Both need storage and there is nowhere near enough right now.

It doesn't matter what the policy is, what the figures are or when a dividend will be paid. We cannot get away from the fact that on two separate occasions we were told there would be a policy and on both occasions no information has been forthcoming.

Fellow investors know as well as I do that a company, regardless of age, stage of development, market, etc has to release signposted information when it signposts it or the price will take a hit, investors will get nervous, shorters take advantage etc.

The delayed policy was expected by the end of last week and as last week closed out and into this week the share price has taken a hammering.

We can argue or debate about causes well into the small hours, some will say it is Vanadium price reductions (despite the share price not even being half the valuation afforded to it by our brokers), some will say it is political uncertainty (what's new), some will say it's people selling for the tax year (maybe) but the fact of the matter is whilst those items are outside of the control of the company what is fully within the control of the company is releasing announcements when they say they are going to.

This should be seen for what it is and the price is suffering as a result.

@Daisan There was nothing vague about it. As well as the information in the report already posted today I also posted several times in recent history that it was clearly posted on their own website that Q4 2018 was the expectation.

Low and behold in April 2019 this is STILL shown on their own website today:

"Bushveld is committed to delivering attractive returns to its shareholders. During the second half of 2018, the Company will define a capital allocation framework, which will outline the Company’s approach towards shareholder returns, including a dividend policy designed to encourage capital efficiency, to support the Company’s growth initiatives while simultaneously rewarding investor"

Quite frankly it is just not good enough.

@BBN In recent history (I believe one of the presentations I watched) Fortune quoted a requirement for $10m for the electrolyte plant and a further $20m to extend the plant to component manufacture. It is unclear to me whether these are our share of direct costs for these projects or these are the total costs which are part funded by the IDC.

Personally I think the latter is also already a done deal and the plant that gets built will be both electrolyte and component manufacture for South African assembly of VRFB's. This was alluded to in a change of wording that another poster picked up on in the last fortnight. Presumably there will be an announcement at some stage of what exactly we will be manufacturing, is it limited to a store room of imported UET parts that get screwed/welded together or whether we will actually be manufacturing some or all parts from raw materials - also will space be used for decommissioned VRFB's that require servicing/re-processing - possibly but clearly that is a consideration further down the line once there are sufficient VRFB's in-situ and for long enough that the need for re-processing is there.

I remain impressed by the ambitions of BMN/BE and it is shaping up to becoming truely exceptional in the African market.

Plus three figures hopefully...........!

Q1 update won't be this week, will be at the very least April.

Paying a dividend is the next step for a profitable public company and opens us up to significantly more institutional investment, particularly income funds. There are also your rainy day/retirement income investors who are looking for dividend yield and wouldn't consider us otherwise. Granted the latter will be more interested in FTSE 100 levels of stability rather than AIM but the point is that it is a natural progression to becoming a fully investable company regardless of whether you are looking for growth or income. As for FTSE it gives our base fundamentals a boost ready for possible progression to the main board at a future date. At the moment we are restricted to growth investors (and growth investors who are interested in a sniff of a possible dividend).

In terms of capital requirements the company has they have a much better handle on that than any of us so if they say they can pay it and meet growth then that's good enough for me.

RichKen yes great to see an opinion of Strong Buy and pleased to read you concur. You may also wish to use the opinion rating on your post to reflect that fact, of course that is not compulsory but may help new entrants gauge the mood of the board so I have consistently used it for several years now.

The new regulations are in part to improve earthquake resistance and structural integrity.

I know this doesn't mean a lot from thousands of miles away but personally I am not happy to see the Chinese government playing with peoples lives by not rigorously enforcing the new standard. By tolerating non-compliance they are allowing weaker steel to be used in current projects?

An eye opening read as usual Alfa, many thanks for this. Looking forward to part 3.

Just a reminder that Master Investor is in a couple of weeks. There is usually company representation there, last year was Dr Mike and a finance guy. Don't expect Jamie Gibson to be there, he is usually hiding in Hong Kong.

Sorry to say but I have been invested in BMN for many years now and the RNS newsflow has never, ever lived up to either my or this boards expectations. Much as I would like several RNS releases before the end of March on lots of outstanding and expected news I see no precedent for this and honestly cannot see it happening. One or maybe two at the most.

Of course I will be delighted if I am wrong as much as anyone else and my opinion on the future of this company has not changed, as you can see on the left.

Welcome huzzy.

I believe there is a limit of six months past the financial year end for AIM shares so we should see the 2018 accounts by June.

I am not sure I share the view that this is a speculative stock given the company is making over $2m a week.

Yes but disappointingly the website still says second half 2018 so it is no wonder investors can get confused. The company really must do better not to have conflicting signals.

http://www.bushveldminerals.com/investment-strategy/

"Bushveld is committed to delivering attractive returns to its shareholders. During the second half of 2018, the Company will define a capital allocation framework, which will outline the Company’s approach towards shareholder returns, including a dividend policy designed to encourage capital efficiency, to support the Company’s growth initiatives while simultaneously rewarding investors."

One small piece of news I am particularly looking forward to is if the VRFB battery test was able to cover a black start of the Eskom facility, which none of the other batteries tested have been able to do thus far.

Pdub no problem and of course that is your right and you have experienced recent treatment first hand. I am sure everyone here is very pleased with your outcome.

What you do highlight by your experience is how variable the NHS can be and it is really that which needs to be addressed. I have experienced the NHS in a number of locations across the country and know first hand just how variable it can be - as an example when we attended an A&E in Devon we were seen in five minutes (and seen by a doctor, not a triage nurse) yet my local A&E is always a 2-6 hour wait (or more). There is oversupply in some areas and chronic undersupply in others particularly in cities.

I can only say again that I apportion no blame to front line staff for this who I know work tirelessly in an often unforgiving and abusive environment. It's not a job I could do and I have total respect for those that can.

The NHS is of course funded by taxation as are all public services but is free at the point of delivery (mostly if you exclude paid prescriptions/optical/dental). Only about 20% of the NHS budget comes from National Insurance so the misconception that the NHS is funded solely by NI contributions from wages is sadly well out of date.