Member Info for SquirtyFlower

I don't have a question, but hopefully the fact he's giving an interview means a nice fat juicy RNS is going to land tomorrow morning.........

Large orders are often worked through the day (or over several days if the order is very large). If the order was a day limit order for 360K shares at a max of 14p then the MMs would be very reluctant to pay 14p for the shares they need to fill the order. Far better from their point of view to try to frustrate, cajole, manipulate, con, bore potential sellers into handing over their shares at under 14p. By late afternoon, they had to move the price up to get the last remaining shares before the order expired at close of business.

I didn't know IG allow you to hold shares in an ISA. I thought they were just a CFD and spreadbet outfit and my comments were based on this. You can't put CFDs and spreadbets into an ISA, but I see they also allow you to buy shares outright and put them into an ISA. I suspect my general comments still hold though across the various products IG offer - shares owned outright can't be loaned out, shares 'held' via CFD or spreadbet can be.

IG are not online brokers. They are derivative product brokers. When you buy shares via an online broker (e.g HL, II) then you have ownership rights even though the shares are held in nominee accounts e.g. you have the voting rights associated with the shares. You pay the stamp duty and cgt that may apply to your dealings as you own them. It also means the broker can't just loan your shares out again as you have rights on them and putting a high sell limit on is a waste of time.

When you buy via a derivatives broker you do not have ownership rights on the underlying shares. On the positive side for the punter, this means they don't pay stamp duty and, in some cases, CGT. On the downside, the broker owns the shares they acquire and they can do whatever side deals they like to hedge their overall net short vs long exposure and the punter gets no say (so putting a sell limit on is also a waste of time in this case because the broker will just ignore it).

This topic must have come up at least 20 times on this board over the years. The answer is always the same, namely that NONE of the main brokers that people use (HL, II, Halifax, AJ Bell, etc.) loan out shares for shorting and that setting a high sell limit is a complete waste of your time. All of these brokers have repeatedly confirmed that they do not loan shares out.

BB - completely agree. If he's out buying more bargains then great - director buys can wait until the deal is announced, but the directors need to be sure any such deal is sufficiently substantial to justify not buying shares and not just a 'routine' deal that no-one would bat an eyelid as being anything other than normal business operations. Along with our plant production improvement programs that is what I want our money spent on as it is growing capacity, sales, market share and new business/technology.

We need to get the terminology correct here. A buyback is when the company buys shares, either to cancel or to hold in treasury. Personally I don't like this as a young, growing company should be looking to invest for growth rather than engage in financial engineering because it can't find anything better to do with its money. Frankly, if BMN did this now, I'd consider selling my shares (millions of them) and move on because I would see it as a company that has run out of ideas and no longer looking to grow.

What you are asking for is director buys and I would wholeheartedly support this. I keep hearing that the directors can't buy because of this deal or that deal going on, but this doesn't wash for me. I know there are specific closed periods around financial results and takeovers that are under discussion, but we've been in the apparent state for years and years and I simply don't believe there has been no opportunity at all in that time for our directors to buy shares. Other company directors - especially CEOs and Finance Directors - seem to manage to buy shares on the open market at various times even though they are bound to be aware of the financial details of deals the company is doing (they would be failing in their duties as directors if they weren't aware or looking to strike deals for the benefit of the company or aware of how well sales were doing at any moment in time). I know we have the VIP program at the moment, but a) we have announced we're not looking to buy majority stakes via this mechanism so we're not taking over these companies, just make investments in them b) they are deals being arranged by one subsidiary of the overall company (BE) not Bushveld Minerals so none of them individually are make or break for the business as a whole. I can also see that there were periods during the Vametco and Vanchem purchases where the directors could not buy shares, but once the terms were agreed and published there was nothing stopping them. All-in-all, some director buying here would be appropriate and welcome.

Agreed, Sanchez, very brave to be hoping to buy back cheaper now. The website update, the share price movement in last hour, some things hinted (or not said) on this BB by some very knowledgeable people make me think some major BE news is coming next week. Personally I think Monday but that's purely my opinion and remember my avatar belongs to a clown. Wouldn't be surprised to see this close over 16p today though.

And, of course, when the independent investors and investment banks show it is bankable, then.....:

1) They have a vested interest in helping to sell the idea to other businesses
2) They can also help sell the concept of renting electrolyte and direct them to a certain company they can rent it from!

What better for BMN/BE - getting others to spread the VRFB and electrolyte rental story and boosting vanadium production for rental. Bingo.

Worth noting that as well as the increasing V price in 2018, the rise in the share price to 50p was also driven by Golden Summit buying over 50m shares (which they retain). Another similar investment would also do wonders for the share price.

Pdub - I am so sad to hear your terrible news. You have shown such passion and determination in supporting this company and its leadership and in the way you have so clearly and firmly dealt with those who have sought to sow mischief and discord on here. My heart goes out to you, to GND and to your friends and family.

Ah, ok. If that is the case, then I apologise to Snott.

Snott - think you owe Sloppy an apology. He has posted many thousands of useful vanadium, energy storage, and VRFB related articles on this board over many years and is one of the most respected posters on here. Your suggestion (slur) he is the CEO of another company ramping shares is one of the most ludicrous and inaccurate things ever posted on here - and there's a lot of competition over the years.

Not quite true. It is specific to the matched trade (UT) in auctions being out of a pre-determined whack with the previous automated trade. See the following...

https://aim-watch.com/project/price-monitoring-extensions-explained/

Er, why not just use the figures SP Angel produced yesterday for 2020? The ones that include all the costs, all the royalties, taxes, depreciation etc. Why re-invent the wheel when they've done the work for you? They put our current PE at 25 based on 2020 earnings (though a much lower PE for 2021 onwards based off previous V and production prices).

https://www.uploadlibrary.com/SPAngel_JohnMeyer/Bushveld_Q1_Prodn_2020.pdf

BMN is not a mining major. It's share price never rises and falls on general mining sentiment in the way the FTSE100 miners do.

All of the mining majors are significantly u p this morning e.g. GLEN over 5%, BHP over 3%, RIO 2%. The AAL rise is just part of this and nothing specific to their RNS today.

No, the2.81% are the shares held by the BoD plus around 700K held in treasury from the share buy back that was done a few years ago. In previous top 10 shareholder reports the BoD shares used to sit at #8 or 9 on the ordered list.

It's also worth being aware that previous shareholder analysis in 2018 or 2019 concluded that Jose Borremo's holding - which was at least 30m, possibly more like 50m, I can't recall exactly - had been transferred to be held by one of HL or II as his name suddenly disappeared from the list after being on for many years and theirs went up by the same amount. He, Acacia, and some other outfit who sold out completely around then were the largest shareholders back in 2013 when I first bought in. Golden Summit's purchases were one of the primary drivers of the share price from 20p to over 40p so this gives an idea of how keen they will be for the share price to get back above those sorts of levels.

Presumably done so they can maximise any fall percentage tomorrow if the plan is to slam it down or to minimise the rise if we get a good production RNS or a restart mining RNS..........

CD - just accept that you are wrong on this and stop wasting everyone's time.