Member Info for SickOfTheRatRace

As there are some that will continue to try and talk about Vametco having large hidden debts or building so called debt into value calculations before the H1 results this is an important interview to remember as Fortune has clearly stated in the interview that Vametco is debt free. This may be increasingly important as we approach September.

Great interview as ever.

@kevkan Personally that's one reason I hope we are bought out so the decision is taken out of my hands. As things stand even at £1+ it is going to be very difficult to bring myself to sell any. I already have a target in mind of £2.50 - £3 but even this could easily be exceeded in the next few years.

Some other contributors have previously posted situations where they sold shares too early, the real problem here is what is early and what is late. The company has developments lined up probably for the next 5 years but it is difficult to see them lasting that long without serious buy out offers. Companies with the quality of assets BMN have are hardly two a penny and given recent Chinese activities in the resources sector I feel a Mokopane offer is almost certain.

If we sold feedstock for processing is there any indication how much we could expect to receive per tonne?

We can licence the patented delivery mechanism and potentially receive a royalty per can?

I read it as 5,000mtv for Vametco and a potential extra 5,000mtv from brownfield elsewhere. I think this is the first time we have seen a comment in relation to getting 10,000mtv out of Vametco specifically. It could be the focus moving away from brownfield due to costs/opportunities or other factors.

The guidance on 2018 production would indicate that production increases have been for FeV. 3,050mtv Nitrovan and 630mtv FeV is expected this year (source: http://www.bushveldminerals.com/bushveld-vametco/)

I like the comment about the Chinese funding Mokopane. A good time to again state that I believe an offer for Mokopane will be forthcoming once that mining right is granted. I know many won't agree this will happen. There is a lot of uncertainty over future supply for the Chinese and a world class resource is one way of alleviating this. Of course we may not accept an offer, but I definitely believe it is coming.

With a Bushveld Energy quarterly update due early next week and then a Bushveld Vametco update to follow it would seem a strange time to sell. I know the AIM style for many is "sell on news" but we haven't had the news yet!

I have to agree with an earlier comment, it does seem like someone doesn't want this to go over 25p right now.

Just to add, now we know what was meant by the comment "5,000 and beyond". They already had this in their outline plans. Nothing the company says is by accident.

The decision is not a difficult one in a high-price environment. If prices remain high then payback is <1 year!

The fact they already know the cost and the new production level means they have already done the necessary investigation. As I mentioned at the completion of phase 2 the video showed equipment already capable of much higher levels of production and they have to be some way into phase 3 already to meet this years production guidance.

What we don't know is any disruption it will cause in terms of having to shut down production for brief periods of time to replace major plant.

Despite what the interview says I think the decision is already made, at least in their heads. The official decision no doubt awaiting the rumoured Sojexit.

At that price looks like Wogen warrants.

@swanseayellow a proper P/E can be determined after profits are known. Of course we already know what profits are likely to look like but official recognition only comes from published figures. So September at the earliest.

I know it's the norm to praise Fortune in these circumstances but I would also like to thank Lemur CEO Prince Nyati for his work in progressing this platform. Excellent update with everything on track for delivery. Great work!

To be honest it already is life changing for even modest holdings but if it's going the way it is signposted the end result will be the equivalent of all six balls on the lottery.

Quite incredible possibilities ahead.

@faramog I have no doubt BMN wouldn't talk about dividends if it was to the detriment of capital investment needs. As this is currently an exceptional price environment we are in and capital requirements would have been forecast over several years based on an average sales price it would appear there is currently income being generated superfluous to requirements as we know BMN work on conservative figures.

Personally I have no problem with them adjusting any dividend up or down based on future requirements, I am not in the camp that demands continued dividend growth year on year.

Of course there is no dividend history for BMN because we have never paid one so I have nothing to refer back to, however my limited exposure to the stock market informs me that dividends are normally discussed in annual and interim results, unless there is scope for an "exceptional" or "special" one-off dividend.

Perhaps H1 results is too soon to outline the policy but as these are not due for release until September we will already be effectively three quarters of the way through 2018 - so not beyond possibility as it would fit the second half of 2018 time frame.

I wonder how much influence a dividend policy had on the recent II buy-ins. I have no doubt it would have been raised by some what the prospect for ongoing dividends was looking like.

YTSS - We sell in dollars but pay wages in Rand. If there are more Rand to the dollar then we need less dollars to pay the same equivalent wages in Rand, so our costs are lower.

An 800+ bagger, that would be something to tell the grand children round the fire.

Will we ever hear the whole story or will we be taken out before it is written? Place your bets!

concious yes you are of course correct, £12.50 a year. It used to be a percentage which was removed and changed for a fixed amount equal to one trade. Apologies for the oversight. That's a good example of why you should research thoroughly before taking any decisions!

Expanded slightly:

"Anything they do Bushveld Minerals can do better, can do quicker and can do much more cheaply so for me Bushveld is the play for Vanadium. If they want to double their vanadium production capacity it will cost them a half to a third of that of just about anyone else in the business. So that's a very compelling argument and it's possible that Bushveld could double their production capacity that would help to reduce their costs and they can do it without too much trouble."

So as has been said before if you want Vanadium you have to go to the Bushveld. Very, very positive comments for investors there.

Endion, what you do with your own funds and investments is your own choice and of course giving financial advice on this forum is to be avoided. What I can say is that I hold all my BMN in an ISA primarily for the tax benefits both for buying/selling (no CGT) and tax free future dividends. With the path expected for BMN and the potential for many multiples of the current share price I see holding as much as possible in my ISA as a key benefit.

In terms of providers personally I use Halifax for my ISA rather than a more independent broker as I feel that the chance of Halifax going bust is remote compared to independents (as Beaufort has shown). That is not to say Halifax is immune to financial problems (as has been seen in the previous decade), but as the business is highly diversified including retail banking the chance of it being allowed to fail is very small, as has been shown by previous Government intervention. It is also now part of Lloyds which is a highly profitable bank. Fees are £12.50 per trade with no annual management charges. They also have monthly promotions where trade prices are cut to much lower levels for a brief period. The £12.50 with no annual management fee suits a low frequency trader such as myself.

If I was looking for a new ISA like yourself I would be conducting some research to determine which fee structure suited my own trading profile - I would also look for platforms that don't lend your shares to shorters.