Bushveld Minerals Share Discussion Threads

[jc2706] 30/1/2019 09:10

I confess that I expected a larger drop than this. Just goes to show how different people read a RNS in different ways.

[jc2706] 30/1/2019 09:06

nvhltd,

If you have shares in the company I assume that you are selling at a rate of knots now, given that 'the master plan is unravelling'! :-)

[jc2706] 30/1/2019 09:04

jakecat1,

The market tends to look at future rather than historic profitability so indications of production problems and expansion delays are going to be suggestions of issues in the future that will be reflected now. The one problem BMN doesn't have currently is low profitability but this is due to the high Vanadium price (in Q4 but still relatively high) and controlled costs.

If I am reading the report correctly, it would suggest that, whilst the issues have been identified and there is a zero capex route to achieving a higher production level (although somewhat lower than nameplate capacity), these have not yet been implemented as the process only completed in December. I suspect from the statements that grade control is a significant part of this, which has been understood for some time and is the basis for the drilling that has been carried out at Vametco over the last few months. Given the experience on the ground at Vametco as well as the considerable resource, I am expecting this issue to be resolved although time will tell as to when.

A rate of 3400mtv would seem achievable but it is not clear at this stage when. Given that the plant is currently operating at 2400mtv I am expecting 2019 guidance of 2800mtv on the basis that they have indicated higher levels than 2018. That would give room for positive surprises whilst managing expectations.

The biggest mover of the share price this year is still likely to be the Vanadium price with room for 'blue sky' surprises should there be a Mokopane licence award, etc. Unlike others on the LSE board, I am not expecting a huge amount from BE at this stage and still see Vanadium sales as the profitable aspect of any success in this area rather than the UET machines themselves which will have relatively low margins.

[nvhltd] 30/1/2019 08:56

Jake: You really need to read the report again.

I make 4 out of 5 missed quarterly missed production targets.

The last 3 quarters have included maintenance issues.

The 2 upgrades haven’t been successful and more work is required.

Phase 3 looks like it’s being delayed. Bolgas was correct in his interruption of the last RNS on the subject while the rampers were saying it’s being brought forwards to take advantage of the expected demand increases.

Mokopane is now just a footnote with no news information.

Taking into account all the above where are we going to get the vanadium from to supply an electrolyte plant by the end of the year?

The master plan is unraveling.

[dmitribollokov] 30/1/2019 08:43

Keep drinking the kool-aid jake.

[jakecat1] 30/1/2019 08:39

Daft MM initial over reaction to what is really a very positive update. Increased profitability is all that matters tbh. Temporary slowdown in production... which has been resolved = 10% drop in share price!?!?! Plain daft. Great buying opportunity though!

[jc2706] 30/1/2019 08:36

I think knuttie's attention was on the EBITDA figures but you are right, it is impossible to ignore the rest of the report which has several negatives.

[jc2706] 30/1/2019 08:34

I think the focus is on not achieving the Q4 production guidance levels owing to the issues with the plant operation Vauch. The profitability for 2018 is historical and the market is looking forward to what 2019 will bring and readjusting to the lowered expectations.

You have to add to that the fact that the nameplate capacity for Phase 2 is unlikely to be achieved and Phase 3 looks like it has been put back at least a year.

On the basis of these things it is hardly surprising that the share price is taking a bit of a knock, despite the historical and continuing profitability.

[vauch] 30/1/2019 08:29

Well their you go a company that is making too much profit

[jc2706] 30/1/2019 08:03

Sorry? What are you referring to?

[belgraviaboy] 30/1/2019 07:51

Hilarious - pages of bickering but not a word about today's production report.

[jc2706] 30/1/2019 07:50

Well, not the production volume we were looking for or was forecast well into the quarter. Unplanned maintenance has been blamed but the performance of the operation as a whole is clearly falling well below capacity. The upgrades seem to have resulted in little benefit so far. Whilst it is good to see that they are seriously trying to do something about it, there is no doubt that this is a poor performance from a production perspective.

On the positive side, we see in this quarter the tremendous profitability inherent in the operation despite the low production levels. In addition, the fact that they have really reduced costs (helped by the fall in the Rand) despite the fall in production is impressive. But let's not paper over the disappointing production numbers.

[plat hunter] 29/1/2019 20:42

Thanks Knuttie..Intraday boasting is exactly what I wanted and was expecting from personalities like yours.I bet you're not even married... Just a sympathy story to garner support for your insidious objectives.

[bmnsa] 29/1/2019 20:39

We may be adding GOLD to the BMN mix in the future

Mokopane vanadium project, Limpopo 15637
Bushveld Minerals is proposing to develop a new open pit magnetite mine with associated infrastructure on a site located near Mokopane Town in Limpopo Province.

The proposed project is situated 45 km north-northwest of Mokopane and 65 km west of Polokwane, within the Mogalakwena Local Municipality in the Limpopo Province. Bushveld currently holds a Prospecting Right (PR) over portions of the farms Vogelstruisfontein 765LR, Vliegekraal 783LR, Schoonoord 786LR and Bellevue 808LR.

The PR allows for prospecting of iron ore, vanadium, titanium, phosphate, nickel, copper, cobalt, chrome, platinum group metals, gold and all minerals that may be found in association with these and phosphate ore. The combined PR area is about 10 109 ha. The principal focus of the proposed project is to produce a magnetite concentrate. The magnetite concentrate will be further processed as part of a separate project to produce vanadium.

hxxps://www.l2b.co.za/Search/GlobalSearch#?GlobalSearch_SearchText=1564883&GlobalSearch_Order=1289212

[nvhltd] 29/1/2019 19:01

Hi Knuttie:

I see you’ve made even more disparaging remarks on LSE and even had your first posts removed. The weird thing is you can’t understand why.

You even made the point that your first thought on coming out of the hospital today with your poorly wife was to troll a bb poster. It’s obvious where your priorities lies. I suggest you reevaluate. Xx

[knuttie] 29/1/2019 18:43

Plat Hunter

Yesterday 14.30


"This has so quickly turning into a dishonest rampers bored.

Newbies beware of people promising riches and regurgitating the same old news whilst crying out to filter and ignore the non believers.

Whales trying to sell into a small and constricted market after making 1300%

If they keep this up, it will surely collapse here, 5p coming.

Happy for someone to date stamp this by equally calling me a clueless clown"

Boy what a tipster you are, let's just use your own words CLUELESS CLOWN

[1enigmatic] 29/1/2019 17:38

Le Melt Jaune Have you had your teeth done yet .You were described as Benny from crossroads on the photos didn't realise you were bald as a coot.

[le maillot jaune] 29/1/2019 17:23

raison d'etre numpty

[le maillot jaune] 29/1/2019 16:57

You seem to be afflicted with the same unhealthy obsession as PSbhoy: it's not really my fault I'm better looking and more successful than you is it but for your own sanity I hope you can learn to let go. Btw I have a guard dog

[nvhltd] 29/1/2019 16:49

Knuttie: further to my post to you earlier I see from LSE a few moments ago that you still haven’t taken the opportunity to reflect on your trolling of fellow posters. You even took the time to unfilter someone just to post:


Chartist2 I have unfiltered you just so I can say GET STUFFED you preaching pillock?


What is wrong with you?