Bushveld Minerals Share Discussion Threads

[neilyb675] 30/3/2017 08:24

12p coming

[cpap man] 30/3/2017 08:20

Bushveld Minerals (BMN.L, 7.95p) – Speculative Buy

Bushveld Minerals announced today that it has signed the final elements of the financing agreements in support of the Evraz Group’s 78.8% interest in Strategic Minerals Corporation (SMC) with Barak Fund SPC. The Barak financing comprises a bridge loan facility of to US$11m, repayable within two months of drawdown and will incur a total of US$939,077 in interest, fees and legal charges. In addition, the Barak financing includes an inventory facility up to US$7m to monetise Vametco’s inventory of finished Nitrovan product ready for distribution. Bushveld intends to refinance the Barak bridge loan upon completion of the acquisition with no expectation of refinancing through equity issue. The Barak financing agreement coupled with the recently signed US$9m financing agreement with Wogen Resources ensures Bushveld will be able to complete the acquisition of SMC and its 78.8% interest in Vametco with minimal dilution to shareholders. As part of its agreement, Wogen will make a US$3m prepayment, payable by the end of 2018, and provide an inventory and receivable financing package of US$6m to optimise operations at the Vametco mine.

Our view: The above announcement is a major milestone for Bushveld as it has now completed the financing for the Vametco acquisition. The Company can now focus on optimising operations at the mine as well as monetising the inventory of its Nitrovan product. We are encouraged with the Barak Fund and Wogen’s commitment to the project and look forward further updates as Bushveld continues with its integrated vanadium

Beaufort Securities acts as Corporate Broker to Bushveld Minerals plc

[sonofbanjosinger] 30/3/2017 07:51

Oh dear .... nobody cares today about your spill ...lets see your shorts burn ..

[sonofbanjosinger] 30/3/2017 07:49

Lets see how this goes today.....

[sherlock2020] 30/3/2017 07:21

RNS out this morning

"There is no expectation that any refinance will be completed through an equity issue."

The financing deals are all done. All that needs to be done is sign off all the final documents and the deal is completed, and BMN will have successfully become a producer with one operating mine, refining plant, sales distribution network and two of the world's best vanadium resources sitting round the back. Awesome !!!

[sherlock2020] 30/3/2017 06:27

kenco7 - yes thanks, not every AIM share is an intrinsically worthless bag of hot-air.

[kenco7] 30/3/2017 00:20

Good luck Bushwackers burn the shorters,Have made some good money last few days after years of holding now the target reached i set myself and because its the aimcasino i say goodbye.This has to be one of the most researched shares i have been in thanks to Nick BBN Corbine(rip)and a few others who know their stuff.As the RNS is dropped i will raise a glass to you all

[sherlock2020] 29/3/2017 23:27

Good summary from NickDerby -

If we look at Mokopane vanadium and ignore everything else, we have a contained vanadium resource of 2,023,000 tonnes. Using a recovery of 74% and 64% ownership, this gives BMN’s share of contained vanadium – 958,093 tonnes.

At today’s market cap (8p gives a MC of $73m), our Mokopane vanadium is only valued at around $76 per tonne. When you consider the FeV price of around $25,000 per tonne, that is quite a discount!

Even a valuation based on 1% of the retail price would be huge (3.3 times today’s share price, around 26.5p per share).

That figure ignores both Brits vanadium, Vametco vanadium and all of our other assets. (iron ore, tin, coal, phosphate, titanium).

Brits vanadium and vametco will easily double our share of vanadium reserves. (Therefore 53p per share).

Plus Bushveld Energy news to come!

Plus the largest high grade, low cost, vertically integrated vanadium platform to be unveiled.

We will shortly become a vanadium producer generating £millions and most likely, subject to DD, a tin producer too!

Re-rate set to continue , imo…..

[jp8891] 29/3/2017 23:25

What evidence do you have palinka that Darwin have 'joined the games' not seen that RNS'd

[lowflow] 29/3/2017 15:09

1. Bookwormrobert, is there a specific article you are referring on Mining Weekly?

2. Does anyone know how many tonnes Vametco Alloys produced in 2016?

[bookwormrobert] 28/3/2017 20:03

I recommend those long in this stock (the genuine investors, not the swarm of day traders currently here) to read Mining Weekly, the trade journal of the South African mining industry. You should first search online results for Bushveld, and you should ask yourself the meaning of the BEE deals, and then you should consider the wider political, economic and constitutional crisis in South Africa, especially President Jacob Zuma's recent demands for further black economic empowerment, a la Zimbabwe.
Also, you might want to check out how many warrants there are around, as when these are exercised and the shares subsequently sold off, the share price will come under real pressure.
Full disclosure - I'm short here.

[palinka] 28/3/2017 19:05

Darwin strategic have just joined the games. Good luck

[enewman36] 28/3/2017 11:01

You'll be skint and going to the bank asking for more funds to back your pathetic short in a weeks time thankfully :-)

[palinka] 28/3/2017 09:17

Aim rules: 1.buy in anticipation of news. 2.sell on news...

Let's see who's right in a week son of a b1tch

[divmad] 27/3/2017 19:02

When and where was the last time that the TW groupies got caught heavily short on AIM?

[sonofbanjosinger] 27/3/2017 18:42

Yes time is running out ...for any shorters.

[katylied] 27/3/2017 16:22

More warrants. As of 2017/03/31 now 729,999,703 shares in issue.
So... ~7.8p/share needed to equal flotation £56.7m MktCap...

[katylied] 26/3/2017 19:44

And now for something completely different. As we enter BMN's 6th year...

The Uis Tin (+Tantalum) project in Namibia.

The end of this week marks the due diligence end-date for this proposed Uis share-holding acquisition (don’t hold your breath for news). To recap, the terms of this ‘all BMN equity’ deal raised a few eyebrows, because the RNS announcing it, implied the number of BMN shares offered was fixed, making the ‘value’ wholly dependent on BMN’s share price at deal closure. These would be very strange terms indeed, since the Vametco deal was pending and anticipated to be a major factor in the BMN share price If those really are the terms, the Uis sellers may make out like bandits. They are already looking at a substantial premium.

On the other hand, maybe the deal terms are misunderstood? Maybe it doesn’t work that way? If BMN do proceed with this Uis deal, then possibly it might also get renegotiated. BMN have a strong hand. All previous attempts to get Uis back into production have been stillborn. So BMN may be the only realistic game in town, if any progress is ever to be made with the Uis mine.

What is known about this Uis project?

Namibia has 2 large, arid regions in the west, Erongo and Kunene. The Uis Mine is near the Uis Settlement in the Erongo Region. Namibia is a mineral rich country, the geology dating from late in the creation of Gondwana. Geologists have come from all over the world, for much interesting geology is situated near ground level.

The Uis Mine has a long history. Suffice it to say, that the Tin resource is huge, but also of generally low grade. The economics of the mine, depend greatly on the price of Tin and contemporary mining overheads. This is a ‘Greenhills Resources’ proposition and since BMN are not currently ‘miners’, I wonder if VBkom (potential shareholder in Greenhills) might also be involved? Uis could be the last piece in the puzzle, that gets ‘Greenhills Resources’ floated as a separate mining entity.

The mine was last operated by South African Steel maker Iskor. That large-scale operation closed in ~1991, owing to the low Tin market price (under $6,000/t). Some small operations have continued since, aided by improvements in recovery technology. The ownership passed to a company called ‘Induberg AG’. Closure of the mine had an obvious impact on the local people. However, the region has since developed some tourism (looks like a great place for rugged adventurous types).

Welcome to Uis (2007) -

The Current Story

This starts ~2011 with a Nambian business man ‘Knowledge Katti’ (oil entrepreneur, said to be a friend of Namibian President ‘Hage Geingob’). Katti now has an interest in the Uis mine through his ‘Havana Investments’ company. A Finnish company called ‘Procomex’ was said to be ready to invest N$200m (~$25m) into re-opening the Uis mine.




Procomex secured the ‘Induberg AG’ interest, but the initiative to resurrect the Uis mine appears to have collapsed in 2013. It is not at all clear, just how much renovation (if any) ever took place. Problems of trust between stakeholders was reported. Procomex seem to have essentially walked away (unless there is still an interest via some proxy).




The current ownership structure (as reported by BMN) is that ‘Dawnmin Africa Investments Ltd’ owns 85% of the Uis mine, the remaining 15% is held by the (Government owned) ‘Small Miners of Uis’. If the transaction proceeds, ‘Greenhills Resources’ will take up 49% of ‘Dawnmin Africa Investments Ltd’. That is satisfied by taking over the shareholdings of Katti’s ‘Havana Investments’ and 2 other blocks, ‘Namius Ltd’ and ‘Sweltering Desert Investments’. That will then leave ‘Erongo Tin Ltd’ (director Gouws Christiaan) as the controlling partner with 50.5%. (Yes, 0.5% does seems to have gone awol somewhere).

Katti & Co. will henceforth own shares in BMN. That means that Katti&Co get pieces of a rather larger cake, instead of just an interest in Uis. Perhaps, the current shareholder structure of Greenhills needs to be kept static, because a deal with VBKom may yet be possible? This does however introduce the risk, that Katti&Co will see early BMN share price profits and take the opportunity to dump (‘Yellow Dragon’ style). I’m not seeing the words ‘lock-in’ mentioned anywhere.



Some Open Questions

(1) How much of a wide-boy is ‘Knowledge Katti’?
(2) Who exactly is behind ‘Gouws Christiaan’?
(3) Will the deal actually proceed?

[psbhoy] 26/3/2017 18:32

Is that the best you've got palinka....pathetic. This is about to take off. Not on board? Too bad!! Hopefully you are shorting!

[palinka] 26/3/2017 18:00

IMO As far as market is concerned funding and deal is priced in,wonder what Bushvelds cash burn will be on completion and what additional costs are required for production...

[bookwormrobert] 26/3/2017 17:47

OK, I've given my reasons for my short position. They're good reasons. I made 5K from this share on the way up; let's see if I can double my money on the way back down. Some shares are for holding, and some are for trading, and IMHO this one is for trading.

Good luck to everybody. I know it's impossible, but I hope everybody makes money from this share.

[arab3] 26/3/2017 17:38

bookwormrobert
23 Mar '17 - 07:50 - 28365 of 28385 2 0
Smelly, this is getting tedious. It's not good form to deramp because you've sold out and you're looking to get back in cheaper. Especially, when you're just spreading rumours about like muck.

above from the bmr thread
pot and kettle springs to mind !

[arab3] 26/3/2017 17:32

no wonder you are upset bookworm
if you had any sense you would have held till over 8p
and then put on your short !