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Pickler, I would not worry too much about this. If the V price continues to rise, then this should attract more buyers, which means the market makers can offload a higher volume of Duferco shares. So, they should finish selling more quickly.
Every increase of $1/lb in the V price adds around $5m to BMN's profit annually. So, if you assume that BMN break-even on $35, then you can start roughly calculating their profit. Not an exact science with the production costs, but some guidance.
The only real driver of the share price currently is the V price & to a lesser extent, the production costs. Higher production costs should actually lead to a higher V price. BMN cannot control the V price or the exchange rates, so we are where we are. Bushveld Energy is not valued at all in the share price currently, but this should change in the coming months. I would happy to see a large V price rise leading to a substantial share price rise. This would give more time for BMN to develop Bushveld Energy.
The increase in the FAR share price can only be good news for BMN as it puts the spotlight on Vanadium. When some of these investors take their profits on FAR, they may look for another Vanadium company to invest in. I can think of one !!!
Just found an SP Angel note dated 7/11/19. They forecast sales of $235m in 2021 with a FeV price of $45/kg and a net profit of £102k. Valuation was 82p. Therefore, we can hopefully expect a large valuation increase for BMN fairly soon .
According to SP Angel note, BMN make a profit of $6.5m on a V price of $35kgV. At the current rate of increase, we could hit a V price of $45 in 2 weeks time. This would mean extra $45m profit per annum if costs etc remain the same. What should BMN do with the extra cash, dividends, pay off debts, Mokopane ?? Would hardly be a shock if the V price hit $55 within a couple of months. What would we do with this extra cash ? Won't also be too much tax to pay on 2021 figures due to losses in 2020.