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BMN Bushveld Minerals Limited

1.30
0.10 (8.33%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bushveld Minerals Limited LSE:BMN London Ordinary Share GG00B4TM3943 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.10 8.33% 1.30 1.20 1.40 1.30 1.175 1.20 7,856,215 16:04:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Minrls,earths-ground,treated 151.18M -38.97M -0.0166 -0.78 30.46M
Bushveld Minerals Limited is listed in the Minrls,earths-ground,treated sector of the London Stock Exchange with ticker BMN. The last closing price for Bushveld Minerals was 1.20p. Over the last year, Bushveld Minerals shares have traded in a share price range of 0.95p to 4.95p.

Bushveld Minerals currently has 2,343,083,535 shares in issue. The market capitalisation of Bushveld Minerals is £30.46 million. Bushveld Minerals has a price to earnings ratio (PE ratio) of -0.78.

Bushveld Minerals Share Discussion Threads

Showing 5526 to 5548 of 69575 messages
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DateSubjectAuthorDiscuss
30/10/2017
15:12
Kestrel Gold (TSX Venture Exchange symbol KGC.V)

- Capitalised at only GBP 2.5 million
- Drilling results on Val Jual property due in coming weeks
- Peak values of 12,400 ppb Au from recent soil sampling on Val Jual
- Originally staked by Jean Pautler, who’s considered to be one of the best geologists in Canada.
- She was honoured in 2010 by the Yukon Prospectors Association for her work in opening up the White Gold District
- CEO recent interview ““WeR17;re on our third hole, drilling an area that hasn’t been drilled before. I believe we’ll hit some pretty good numbers there which will drastically change the outlook for Kestrel Gold. Jean Pautler thinks we should hit good in there, and so do I.”

Please do your own research on the Company before investing. Thank you for your time.

goldguru2017
27/10/2017
10:06
It’s Big and Long-Lived, and It Won’t Catch Fire: The Vanadium Redox-⁠Flow Battery



Need that mining licence for Mokopane Vanadium,
to fast-track shipping concentrate to china...

katylied
26/10/2017
09:29
A collection of 50 aerial+ground photographs of the UIS mine site...



hmmm... seems to be a test-site, try...

katylied
25/10/2017
06:49
Canadian company signs letter of intent to explore for Lithium near UIS Namibia...

TORONTO, Oct. 24, 2017 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V:MON) (“Montero” or the “Corporation”) has entered into a Letter of Intent (LOI) with Frovio Investment, a Namibian company, to acquire up to an 80% interest in its wholly owned Soris Lithium Project in the Soris pegmatite field, Namibia (the “Property”)... The Soris Lithium Project pegmatites were intermittently mined for tantalum and tin between 1960 and 1990... The Soris Lithium Project is located in central Namibia north west of the town of UIS which is 220 km north of Walvis Bay, Namibia’s largest commercial deep-water port...

katylied
24/10/2017
17:12
Everything you ever wanted to know (except extraction) about the 'Mineralised Pegmatites of the Damara Belt'. In particular UIS Pegmatites and much more...

Page 36: An Introduction to Pegmatites
Page 67: Sn-Bearing Pegmatites UIS & Karlowa Pegmatites
Page157: UIS Pegmatites & Country Rocks

katylied
21/10/2017
14:59
Even with a spike in prices it couldn't have generated enough cash from day to day mining operations, so it must have forward sold future production and what ever inventory/stock it had. Both of these will have an affect on the balance sheet. If the business was throwing off that much cash BMH wouldn't have gone for the convertible debt of last choice - these never end well, look what happened to other companies who have entered into such agreements. BB are suppose to be for open discussion good or bad. I'm sitting on the fence with this one, but generally more negative as it too much of a too good to be true story and that BMH is a minority shareholder in BVL which is its biggest asset by a mile. Will wait to see if we get more disclosure in the interims.
smithless
21/10/2017
11:52
That demonstrates a rather prejudiced view. We know physical product inventory was (in effect) forward sold and sales during the period were highly cash generative (strong V price movement). However, all that cash (to repay debt) would have come off the P&L. There is currently no evidence to support any historic Balance-Sheet asset disposals. Indeed, the Vametco business (production) is actually being expanded...

The working-capital is healthy owing to the relationship with Wogen (typical producer/offtaker arrangement). Really, all of that is in the public domain. You don't need to ponder that on a Bulletin Board, just read the already released RNSs...

Over and Out...

katylied
21/10/2017
11:41
Thanks. So BVL has assets stripped Vametco to pay off the debt, because Vametco certainly wasn't generating sufficient free cash to do so without. Hopefully it's work cap hasn't been too badly impacted. Hopefully the ownership structure between BVL and Bushveld will become clearer when it makes a related party disclosures in its interims, as the tentacles of 45% ownership between BVL and Bushveld Minerals are not very clear
smithless
21/10/2017
10:41
smithless - First up, while 'Bushveld Minerals' was instrumental in arranging the purchase of the SMC majority shareholding in 'Vametco Holdings' (100% owner of 'Vametco Alloys'), the vehicle to do so was 'Bushveld Vametco', where 'Bushveld Minerals' is the minority of 2 shareholders. Once ownership changed 'Vametco' became (in effect) a subsidiary of 'Bushveld Vametco' and the purchase debt fell to that combined entity. As 'Bushveld Vametco' essentially controls the cash-flow of its subsidiary (including presumably, monetised inventory), it was able to use that cash to repay the Barak loan. The exact details are not (as far as I am aware) in the public domain, but in general, this was confirmed by analyst John Meyer (SP Angel) during a Vox markets podcast ~20th April 2017...

"...They have done what is one of the cleverest deals I have ever seen in my career, probably the cleverest. They've just acquired a vanadium producing business in South Africa which is throwing off very large amounts of cash and having signed that deal some months ago... when the vanadium price was low, now that the vanadium price has virtually doubled... they are buying the business using the cash flows that the business has created over the last few months since the deal was signed. So it is an astonishingly smart deal..."

katylied
21/10/2017
07:45
Nickderby a question for you come Monday as you appear the fountain of all knowledge re Bushveld. How was the $8.8m bridging loan repaid to Barak? I was hoping to interims would show this nxt mth, but as the transaction didn't go through Bushveld's accounts it won't appear and won't have to show as its not a subsidiary. I suppose the interims will start showing revenue from Vametco to prove some ownership structure.
smithless
20/10/2017
17:06
Thanks nickderby, always happy to listen to someone else's view.
smithless
20/10/2017
16:45
Good explanation nickderby - plus they don't have anywhere near as good a VRFB partner as we do. Or the coal assets...
sherlock2020
20/10/2017
16:32
So moving things along further.

The market is valuing Largo at £241m plus £165m, effectively £406m if it was debt free.

Our production of around 3,300 tonnes pa is around one third of Largo's, but our product is both 5 times the revenue and coincidentally around 5 times the profit.
So even at a 26.5% holding, our profits will be at least around 44% of Largo's total. Probably more due their large interest payments.

So perhaps a market cap of 44% of Largo's adjusted market cap would seem fair.
That's 44% of £406m, around £179m.

Seems about fair when you consider the current quarter's expected profitability.

On that note, I will switch off for the weekend.
Thanks for the comparison.
Have a good weekend :)

nickderby
20/10/2017
16:15
Smithless - Just to assist you...
Largo's debt is currently around £165m.

V2O5 currently sells at around $8 per kg.
Nitrovan (our product) currently sells at around $40 per kg.

nickderby
20/10/2017
15:59
Smithless, Just as a starter....
I think you need to take Largo's huge debt into account!

Also, they produce V2O5.
We produce a superior product to FeV!

A very poor comparison ;)

nickderby
20/10/2017
15:35
Just as a comparison as to how mad BMN valuation looks, look at LARGO Resources (TSX: LGO). It produces 3.5x more than BMN and is capped at £241m. Meanwhile, BMN is capped at £79m and only has an equity stake of 26.5% in Vametco. I think you punters are going to be very disappointed with the valuation of Greenhills Resources and the interims due by the end of November should be a laugh. All in good fun
smithless
20/10/2017
14:22
You forgot:

grandmasterglitch = Numpty

beardj07
20/10/2017
10:12
nickderby- yes BVL would be an associated company (20-50% of the voting shares). I wish you the best with your investment here, but I will wait for the interims for more clarity. From my calculations BMN only has a 26.5% stake in Vametco and it's about to demerge its second largest asset. The company is principally a Vanadium play and if prices keep falling back to US$20kgv today's valuation of £79m looks toppy to say the least. This is most probably why it had no choice to go to Atlas Cap to fund the business. For clarity, I propose to go short once the demerger goes unconditional
smithless
20/10/2017
08:16
Smithless, sorry but BVL is not a subsidiary company in the accountancy world.
Anything less than 50% is classed as an 'associated company' at best.

nickderby
20/10/2017
08:10
nickderdy - point taken on the 'reversal' and not wholly owned, but BVL should still be listed as a sub, even with a 45% shareholding
smithless
20/10/2017
07:41
Smithless, you need to come forward a few months. You quote the initial RNS.
Later, to avoid the RTO rules, Yellow Dragon were brought on board.

So wholly owned, became 45% owned.

nickderby
20/10/2017
07:37
nickderby - taken from RNS 9 May 2016 quote 'Bushveld Minerals Limited (AIM: BMN), a diversified mineral development company with a portfolio of vanadium, titanium, iron ore, tin and coal assets in Africa is pleased to announce that its wholly owned subsidiary, Bushveld Vametco Limited ("BVL"), has signed a Share Purchase Agreement ("SPA") with Evraz Group S.A. ("Evraz") for the conditional purchase of its 78.8 per cent economic interest in Strategic Minerals Corporation ("SMC"), which owns the producing Vametco vanadium mine and plant in South Africa' ??????
smithless
20/10/2017
07:10
Smithless, please do a little more research.

BVL is not listed as a subsidiary because it is not a subsidiary. To be a 'subsidiary' BMN would need to own in excess of 50% of BVL.

If you check out the website and RNS's....

'Bushveld Minerals has an interest in Vametco through its 45% shareholding in Bushveld Vametco Limited, which in turn owns a 78.8% shareholding in Strategic Minerals Corporation'.



The other 55% of BVL is owned by Yellow Dragon.

As to your question mark over valuation, wait for the quarterly report for 30th September 2017, which is due out in the next few days. Those figures will show why we are undervalued.

DYOR

nickderby
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