GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Always said that the promoting of the £1 party here around late 2018 that was the curse, like other bb’s who never had their £1 party. In fact we never had time to have the original 30p party. < insert face emoji of whatever type>
I think that example is as accurate as you can get it at the moment, not sure if you’ve allowed to Chinese import duty which probably puts the current Chinese price under $40. Also all subject to XR fluctuations. It is not clear now which markets the company is mostly selling into at present and what the actual price is. Company usually quotes average prices from metal markets as guidance.
The selling is not directly affecting the company and its growth or fundamentals, it is however directly affecting the sp. Still think a small part could also be down to Covid restrictions in place, should find out a bit more about these in the final figures.
BBN - The following is taken from a posting by Lindon who has posted numerous times on the subject of JSE
---------------------------------------------------------------------------------------------------------------------------------------------------
Extract from section 18 of the JSE rules document)
“accredited exchange” means an exchange accredited by the JSE for purposes ... such exchanges being the:
(a) Australian Securities Exchange;
(b) London Stock Exchange,
(c) NYSE and NYSE Euronext; and
(d) Toronto Stock Exchange,
or such other exchange.
“accredited applicant” means an issuer which had its securities primary listed and traded on an accredited exchange and equivalent board of the JSE for at least 18 months prior to applying to have its securities admitted on the Main Board OR AltX, as the case may be, and which seeks to take advantage of its status in applying for a secondary listing of its securities on the JSE”.
18.3 An applicant issuer seeking a secondary listing on the JSE must:
a)confirm that it has a primary listing on an approved exchange;
b)confirm that the primary listing referred is at least on an equivalent board/exchange to that for which application is being made on the JSE.
It then states....
“The JSE will therefore NOT grant a secondary listing on the JSE Main Board for an applicant issuer that has a primary listing on a junior/secondary market of an exchange”.
SO... that IS very specific!
Companies listed on a foreign AltX such as AIM ... applying for a secondary listing on JSE will NOT be allowed to list on the JSE main exchange, only on the equivalent JSE AltX. Also any company applying for a secondary listing on either JSE exchanges MUST have had its primary listing in place on that existing equivalent level exchange ... for a minimum of 18 months!
That means there is no possibility of BMN becoming a secondary listed company on the main JSE exchange anytime soon!
Alfa - I was not complaining but pointing out that bullish statements also apply to the company. As I said FM has acknowledged that over promising has worked against the company and it has. You clearly know what the original plans and production targets were for Vametco, its fairly easy to pull out a later RNS with revised figures in. Everyone here who was around then knows this 5000mtv target. Its history now, and we need to look and move forward
Alfa , my memory is perfectly sound thank you. This is from the q1 update issued on April 27th 2018. But you are correct, they did later backtrack on this.
Multi-phased expansion project
· In 2017, Vametco commenced a three-phased expansion project with the aim of increasing annualised production capacity to more than 5,000 mtV by 2019.
· Phase one of the expansion plan was successfully completed on time and on budget in the September 2017 quarter, during which Vametco reached an annualised production capacity of 3,035 mtV.
· Phase two of expansion plan to target annualised production capacity of 3,750 mtV continues on schedule. Commissioning of the new milling circuit is expected during June 2018 with improved concentrate volumes planned from the end of the first half of 2018.
· Phase three of the expansion plan is planned to increase Vametco's annualised production run rate to over 5,000 mtV by 2019.
We announced to the market that Vametco would be producing 5000mtv per year by 2019. Its failed targets like these that introduce an element of scepticism and mistrust when future targets are announced. Fortune has acknowledged this ( over promising/under achieving) and we have to bite the bullet until the market can start to trust future projections issued by the company.
In the very near term we need this year end report out of the way, its not going to be pretty but most of it we already know. I believe nothing of any substance will be released prior to this, these have to come in the next three weeks. The slate can be mostly wiped clean on last year and we can move forward.
No idea whose posts have been removed ( never saw them) but LSE only usually only remove if t & c’s contravened. However I do suspect they have been recently using bots to identify some posts and automatically removing them.
The move to the main board would involve the company issuing a prospectus for the main listing which would require official approval as well as a number of other legal and regulatory compliance matters. Not aware the company have started to put together or even stated they are working on this. Shareholders would also have to approve the move.
Chika confirmed a couple of months ago that the JSE listing had been put under review. She did not clarify what activity had taken place to list the company on the main FTSE index, a pre-requisite for any JSE listing. That is a separate process involving a number of regulatory hurdles.
Completely losing track of where these are up to, assume the bid winners announcement is a good few weeks on from this now as this is bid closure. I was always sceptical about getting into bed with Eskom and thought we would have made inroads into other companies by now.
Playing catch-up but now updated
https://www.argusmedia.com/metals-platform/price/assessment/ferro-vanadium-80-v-fob-china-PA00144230000