Member Info for SickOfTheRatRace

@dryland I don't know what you are expecting the company to say about Mokopane. They state their intention clearly but their hands are tied in progressing the asset until the mining right is granted.

"The Mokopane Vanadium Project is a key part of Bushveld's vanadium strategy and the intention remains to secure the mining right and develop the greenfield project into a vanadium mine and processing plant. The Company continues to explore means to supply ore from the project to plants in China and / or elsewhere in the world."

So they want the mining right and when they get it they intend to develop it into a mine and processing plant, with the previously stated aim of short term ore supply to generate income whilst the plant is built.

Seems crystal clear to me. What they can do about DMR delays in granting the right is no doubt limited.

This is precisely why people who can actually do some research can see the wood for the trees and are not short-sighted enough to value BMN purely on the basis of some Vametco production numbers. Investors skimming from one share to another miss the golden opportunities that in depth analysis can yield.

Even if 2019 were to only produce 2500 mtv at $75,000 tonne with costs of $30,000 per tonne that yields $112.5m or £86m for a company with a current market cap of £442.44m.

If we increase that to a more reasonable and expected minimum of 3000mtv at an average of $100,000 a tonne (a very real possibility) that yields $210m or £160m.

That allows nothing for any other asset.

The whole point of a growth stock is that you are investing for the future and BMN is very much continuing to grow. If you are looking solely at yesterdays results and using that in isolation to determine a share price you are ignoring the absolutely staggering potential and the value of our other assets.

Anyone here from 2p, 7p, 10p, 20p, 30p, 40p, 50p bought in for good reasons. Those reasons haven't changed. Am I disappointed that the company has spent millions on two expansion programmes and haven't yet seen the fruit, yes. Do I believe that money has been wasted, no. Everything I need to know is in the release yesterday. The company know the problems and have already told us they are already way down the road to rectifying them.

Even at the numbers released yesterday the company is undervalued JUST on Vametco regardless of other assets, as confirmed by broker coverage.

Pdub great to hear there is the potential for a quick treatment and positive outcome. Wishing you all the best.

@RichKen I am sure someone will correct me if I misinterpreted but it was my understanding that we already had the MCAP to get into the AIM50 and we all expected BMN to do so, until someone discovered an AIM rule that said you have to be on SETS to be included in the AIM50 hence why we are still only the AIM100.

I believe also it has been mentioned before that in order to have a JSE listing we will also have to move to SETS?

In which case a move may be sooner than we think.

It's ironic. Investors complain about companies that are all "jam tomorrow" but they are usually the ones with ridiculously high valuations! As soon as you show you are actually "jam today" you get marked down.

Let's not beat around the Bushveld here, $2m a week in EBITDA from a subsidiary is an incredible number for a company that until last year was basically loss making.

I would also like to know this. I have previously asked the company but the email was not answered.

Well if we could add gold to our ever growing list of resources god only knows where the share price could end up!

I agree but to what extent they were depleted and to what extent they have been replenished?

Yachty many thanks for that insight from ground level. It is very encouraging that production continued over the Christmas period as this indicates that limited maintenance was required. We can infer that the maintenance therefore either occurred prior perhaps during the strike action, or has been postponed or cancelled altogether. After all if Vametco is already hard at work on phase 3 expansion then some regular maintenance could theoretically be cancelled if you already have plans in place to shortly replace the part(s) in question.

The only problem is without production confirmation we don't know if the deliveries are being made from production or a combination of production and existing stock. Of course we hope for the former and the longer the increased deliveries go on for the less likely the excess could be covered just by stock.

@RichKen Think of it like OPEC. They have the oil in the ground but will adjust the supply to keep the price where they want it.

Although we have it, we don't have to mine it to it's full potential and can ramp up/down as appropriate or as we need to fulfil the VRFB order pipeline. The only thing to bear in mind that if we ramp down then our costs will increase so I would expect a minimum level to be maintained. If what so many people are saying about demand comes to pass then I don't think we would need to worry about trying to restrict production for a long time.

To be honest I try not to think about the kind of numbers you are posting because if you add the Mokopane resource into the equation the numbers start looking silly - particularly against a price of 38.5p. Certainly anyone interested in the fundamentals already knows this is going to be pounds not pence. Pounds plural.

Yes, loving the discussion today on BMN fundamentals and prospects. Exactly what the board has always historically focussed on and been exceptional at.

Agreed. Not only for those reasons but because I think some element of geographical production diversity should be high on the list so we are not held to ransom by only one producing asset.

Brownfield has been long mooted but no progress disclosed. Are they deep in negotiations and close to a big reveal, have they tried but ultimately failed to negotiate a purchase or have they found nothing that suits their needs? Some information one way or another from the company would be beneficial.

@Ophidian found the original reference now:

https://www.businesslive.co.za/bd/companies/mining/2018-06-07-bushveld-minerals-to-diversify-with-battery-production-powering-ahead/

Ophidian The $100m was originally mentioned in an article as "a decision the board has yet to take" last year that I can never find when needed!

As posted earlier this month by BBN:

The statement in the Chika Edeh interview is as follows ;

"It has completed its phase two expansion plan at Vametco, and Bushveld has now begun phase three. To get to 10,000 metric tonnes a year, the company is looking at either building a new USD100 million kiln at Vametco or buying brownfield sites nearby, or even both."

pdub I have been away for a couple of days so just saw your medical news. May I take this opportunity to pass on my best wishes in your upcoming fight and I hope for a positive outcome.

Was a pleasure to meet you at the Proactive presentation and I hope to do so again in future. Try to stay positive and remember that there are a huge number of people posting here that are willing you to beat this demon and ready to support you going forward.

I bet there are a few people interested in that chart behind the hard hat!

@mitchoftheday yes I believe the underlying platform is the same on Lloyds and Halifax, my colleague uses Lloyds and the interface is almost identical.

I think what is being implied here is that there is a way of submitting an order that gets all MM's to look at it once and if none of them want to fill it then it gets bounced.

A tradeplan goes some way towards that but the investors controls the duration so if it is not met immediately it will be parked until it can be rather than rejected.

Early in my investing career I tried tradeplan a few times but in my experience the tradeplan gets lower priority. For example there was one occasion that I had a trade plan at a set price to buy and the price was there for hours but the trade wasn't executed. I executed it manually then cancelled the trade plan.

I think MM's are only interested in trade plans when they can use them as an excuse to move the price, then they are all over them otherwise they are happy to let them fester.

"Standing on the shoulders of giants" is embossed on the edge of the £2 coin.

Are you saying that one organisation can get around the notification rules by putting their entire holding in a nominee account?

I am sure Nick uses a broker but still had to declare?