Member Info for TrevorBrooking

Roger, you've got it all wrong! Operational performance is great according to some posters.

Oh look, is that pigs I see flying past my window?

V prices in the US are down 6.09% over last 30 days, 21.54% down over last 360 days. You can only cut costs so far and profits seem a dim and distant hope at the moment. Remains to be seen if they can ride out the storm.

Maybe they will also be identifying the culprits who have been telling everyone that operating performance was improving when in fact exactly the opposite was happening. How many people have been left out of pocket after these claims?

Shorting of this share hasn't been the problem here, it's the company's performance or lack of that has led to the current situation/share price. Thinking it's something else is dilussional.

Those who have continually ramped this came out and admitted that the "trolls" called this correctly all along. This board has seen a lot of animosity and it's about time some apologies were dished out. I live more in hope than expectation.

You might be needing the life expectancy of a Greenland shark!

Hmmm, people have been saying that all the way down from 48p

Marc, you're forgetting the impact of inflation, currently running at approx 5% in SA, not as bad as the UK but costs will be rising, at a time when V prices are falling

He'll also be judged on what he delivers, not his past performance.

"So with V rising" - sorry to disappoint you but it's falling.

Well it hasn't rewarded those that have held for the last 5 years! All depends on your definition of long term.

Harchris, you convince yourself all your like, firm means static, not high! And they aren't making money at the "high" price of $35.5 are they! You may think it's high, but it's not high enough to break even.

Harchris, your statement "US V prices still remain relatively high" is completely wrong. Pricing in US over last 12m, is as follows:

30 days - (2.51%)

60 days - (3.69%)

90 days - (4.27%)

180 days - (6.55%)

360 days - (-14.52%)

How can you say that prices are relatively high when they have fallen by almost 15%?

Sorry Codejunkie, call me a troll if you like, but I base my views on facts and figures, not wishful thinking. I believe that strategy has probably served me better than yours!

It's clear that the average realised price of $37.4 is not sufficient to enable the company to return any sort of profit in the long term. Unless prices recover (and as it stands they continue to fall) then it's a very bleak future.

They bin anyone that doesn't think this is the best thing since sliced bread because it doesn't fit their agenda.

And was shot down in flames for being a troll!

TrevorBrooking

Posted in: BMN

Posts: 983

Price: 2.80

No Opinion

RE: Loving Life & Mokopane27 Jun 2023 08:06

Coffeecups

My thoughts for the future:

I believe that production costs are still in excess of selling price (remember that prices have fallen by approx 14% over the last 6 months). Whilst they gained a cash benefit of around $8m due to selling down inventory, this will be eaten up in the current financial year by excess production costs. Where is the cash coming from after then? Another cash raise/dilution? Or sold to the Chinese on the cheap? Personally I think a sale is unlikely, there are too many PIs holding shares that will be unwilling to crystallise losses (after all they tell you only lose money when you sell).

Clearly you can only carry on loss-making for so long, although they do seem to have made a bit of an art of it over the last few years. This will only cease on significant price increases in vanadium. Despite all the claims that demand is/will exceeding supply in the market place, this is not feeding through to pricing. Is this due to a slower uptake of VFRB than anticipated? My take on it is that rise will come at some point, but this may be several years away and be too late for Bushveld. To my mind this is the biggest single factor in the future of Bushveld, and for now the pricing is going the wrong way.

Electrolyte - I see that as a white elephant at present, you would have thought that given it is about to go into live production that some sort of selling contracts would have been announced, we have heard nothing to date.

Mokopane; this has been mothballed having been bought at a cost of $68m. Part of this cost was provided against last year, I suspect the auditors will insist on further provisions going forwards. Although this won't have a cash impact, it will significantly weaken the balance sheet and therefore the ability to raise any required funding.

Just for transparency, I did buy back in a small amount last week hoping for a dead cat bounce. I suspect there may be a rise to 4 or 5p over the next few weeks with the excitement of a new CEO before reality sets in and it drifts down again, a small trading opportunity. (By the way, if operating progress has been so good, why did FM step down? Seems strange!)

Anyway, I'll leave it there. For all those with filter blinkers on (Pdub, Harchris etc), they won't see it anyway and quite frankly I don't care. They only see what they want to see and what makes them feel good. That policy has already cost them a lot of money, I hope it doesn't cost them all of it.

USA price now down 13.76% over last 12 months - where's all this pent up demand we keep being told about? Seems like it doesn't exist to me, DYOR

Codejunkie, we don't need to respond to some random persons opinion anymore than you do. People are more than capable of making their own decisions. My decision on whether or not an investment has been successful for me is judged solely by return, be it property, shares whatever. Bushveld has been a spectacular fail for all but a handful of people on this front and no amount of people telling me that operational progress is great and they've just struck a blinding deal is going to convince me otherwise. Its just a dog that's slowly going to have all its legs torn off in a slow and very painful death. Just my opinion, DYOR

A lot of positivity for this deal from the usual crowd, but the market doesn't lie - back to pre-RNS levels