Bushveld Minerals Share Discussion Threads

[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 !

[nickderby] 26/3/2017 15:30

Bookwormrobert sold out on 23rd Feb when the BMN share price was 2.9p as he thought it was overvalued! Lol.

He invested in BMR instead.
With advice like that it's probably better to stop giving investment advice! :)

[sonofbanjosinger] 26/3/2017 14:36

I don't see much pumping going on here...I would be very afraid of shorting here ...you are going to lose all of pocket money from Tom...

[bookwormrobert] 26/3/2017 13:45

No, Bushveld is definitely a sell / a short. To those who believe in this share, I'd point them in the direction of the Mining Weekly website - you can research the current problems of mining in South Africa (and ANC corruption, which is rapidly growing Zimbabwe-like), and also the history of Vametco there.

[sonofbanjosinger] 26/3/2017 12:17

Log ..watch your shorts burn next week, you know Tom and his merry band haven't got a pot to p... in, also ...no bodies interested in your twaddle ...by the way explain how BMN have burnt through 70m .. this should be interesting.

[sonofbanjosinger] 26/3/2017 10:37

It amazes me, one of the best proforming shares this year with a little bit of a retrace over the last couple of sessions and hardly any chatter on here...anybody thinking that story is already priced in ...I would take a look on the LsE boards

[kevkan] 26/3/2017 08:54

Ophidian

To put it nicely for them I think that's what you would call over and out

Cheers Kev

[sonofbanjosinger] 24/3/2017 15:18

A good honest write up Katy ...like it.

[katylied] 24/3/2017 15:08

Close of trading today marks BMN's 5yr anniversary since flotation on AIM. BMN came to market on 2012/03/26 with a £56.7m MktCap. They had only the Mokopane Tin project (JORC 5000+t), the Bushveld Iron Ore project (estimated 600+mt) and a great deal of exploration work still to be done. Since then (excepting the last few weeks) the company has seen the MktCap in almost constant decline and very substantial dilution to LT shareholder interests.

Tin and Iron-Ore assets are firmer and substantially larger now and both ores have seen market price recovery. An impressive Vanadium resource has been added, plus a (more dubious) coal asset. The company is also on the brink of acquiring a significant part of Vametco, a production asset that can add that most elusive of benefits = 'cash-flow'. There is also the possibility that the VBkom JV is not yet dead, rather just awaiting the outcome of the Namibian Tin due diligence.

It has been a long journey, with plenty of missteps. Doesn't look like that initial MktCap will be recovered by this 5yr anniversary, but nevertheless, year 6 now has all the potential for a much brighter future...

Shareholders certainly deserve some payback...

[divmad] 24/3/2017 14:34

Sp still under pressure, despite the LTH rallying call on the other site.

Too much, too soon. Needs a big rest.

[psbhoy] 24/3/2017 09:23

To correct some of the spurious nonsense peddled on here today about the cost of Vametco vs value and the motivations behind EVRAZ.

Firstly, the 2016 Annual report was quoted yesterday and quite correctly with an ongoing process to dispose of the Vametco asset for $17ish Million how much does anyone expect them to assign it on their balance sheet. If you bother to look at previous years annual report s you can find different valuations quite easily. There was in fact an offer made for the facility at closer to $50million but it was contingent upon securing other assets as well ( at additional cost) but that failed early on in the Business rescue process.

Next, under EVRAZ Vametco made Nitrovan (not FeV incidentally, V2N) not from mined ore from the Vametco Mine, but from the SIag produced from their Steel works which operated under an EU competition ruling stipulation using Ore from the Mapochs Mine. EVRAZ were in the throws of trying to procure access to the Brits Ore from Sable Mining when BMN bought Brits out from Sable. With Mapochs all but played out and the Steel price in free fall EVRAZ could not exit this loss making venture quickly enough. The only part of that campus business that made money in the last three years was in fact Vametco. EVRAZ even reverted to generating Nitrovan from Vametco ore once the SIag was no longer available to them and continued to turn a profit. Anyone who followed the Business rescue process closely enough would have realised that EVRAZ were intent on retaining Vametco for a long time and only when the SA government effectively blocked their attempts to get out of the mess that was the Steel business too cheaply did they decide to cut their losses and exit SA altogether. The higher offer for Vametco was stymied by the failure of EVRAZ to secure Mapochs and when Vanchem closed its doors too and laid off the staff so quickly the Vametco bid evaporated leaving a deal for Bushveld who had been quietly doing their due diligence and cultivating a relationship with the SA government and the Unions too.

In terms of output and profit, the numbers are there for all to see and even prior to debottlenecking, the plant will make a Gross profit at current 2419 Tonnes Vanadium equivalent production at todays price for Nitrovan of about $36.5Million of which BMN's share is a shade under $10m.

To those who have been trying to sew doubt and misinformation, before you come on here spouting B/S do some proper research or crawl back under your rock. I have been in email communication with the Business rescue practitioner, with the Unions steering committee and for a long time with a local SA Journalist whom I tipped off to get the scoop that broke the BMN bid story - her information was very useful in piecing things together. I suppose you used Google or Ask. Please just give up and go away. Too many people on this board are too well informed to be hoodwinked by a set of faded Gordon Geko Braces and some sly patte

[loglorry1] 24/3/2017 09:14

@Sonof - even if that is the reason there is no need to sell at this price without good reason. In any case they could take higher offers elsewhere. Show me another transaction done at these levels recently?

[sonofbanjosinger] 24/3/2017 09:11

Because they are moving out of South Africa ..lock stock and barrel....which obviously you already know ...

[loglorry1] 24/3/2017 08:52

@Sonofbanjosinger that's a decent post and sounds very lovely but it makes no sense whatsoever. Why would Evraz sell an asset that was making a profit of $10m/year for just $16m. There is absolutely no reason for this.

I think when we see the terms of the mezzanine debt bulls will be horrified.

Log

[sonofbanjosinger] 24/3/2017 08:03

From Ophidian....BRILLIANTTo correct some of the spurious nonsense peddled on here today about the cost of Vametco vs value and the motivations behind EVRAZ. Firstly, the 2016 Annual report was quoted yesterday and quite correctly with an ongoing process to dispose of the Vametco asset for $17ish Million how much does anyone expect them to assign it on their balance sheet. If you bother to look at previous years annual report s you can find different valuations quite easily. There was in fact an offer made for the facility at closer to $50million but it was contingent upon securing other assets as well ( at additional cost) but that failed early on in the Business rescue process. Next, under EVRAZ Vametco made Nitrovan (not FeV incidentally, V2N) not from mined ore from the Vametco Mine, but from the SIag produced from their Steel works which operated under an EU competition ruling stipulation using Ore from the Mapochs Mine. EVRAZ were in the throws of trying to procure access to the Brits Ore from Sable Mining when BMN bought Brits out from Sable. With Mapochs all but played out and the Steel price in free fall EVRAZ could not exit this loss making venture quickly enough. The only part of that campus business that made money in the last three years was in fact Vametco. EVRAZ even reverted to generating Nitrovan from Vametco ore once the SIag was no longer available to them and continued to turn a profit. Anyone who followed the Business rescue process closely enough would have realised that EVRAZ were intent on retaining Vametco for a long time and only when the SA government effectively blocked their attempts to get out of the mess that was the Steel business too cheaply did they decide to cut their losses and exit SA altogether. The higher offer for Vametco was stymied by the failure of EVRAZ to secure Mapochs and when Vanchem closed its doors too and laid off the staff so quickly the Vametco bid evaporated leaving a deal for Bushveld who had been quietly doing their due diligence and cultivating a relationship with the SA government and the Unions too. In terms of output and profit, the numbers are there for all to see and even prior to debottlenecking, the plant will make a Gross profit at current 2419 Tonnes Vanadium equivalent production at todays price for Nitrovan of about $36.5Million of which BMN's share is a shade under $10m. To those who have been trying to sew doubt and misinformation, before you come on here spouting B/S do some proper research or crawl back under your rock. I have been in email communication with the Business rescue practitioner, with the Unions steering committee and for a long time with a local SA Journalist whom I tipped off to get the scoop that broke the BMN bid story - her information was very useful in piecing things together. I suppose you used Google or Ask. Please just give up and go away. Too many people on this board are too well informed to be hoodwinked by a set of faded Gordon Geko Braces and some sly patte

[sonofbanjosinger] 24/3/2017 08:02

From Ophidian....BRILLIANTTo correct some of the spurious nonsense peddled on here today about the cost of Vametco vs value and the motivations behind EVRAZ. Firstly, the 2016 Annual report was quoted yesterday and quite correctly with an ongoing process to dispose of the Vametco asset for $17ish Million how much does anyone expect them to assign it on their balance sheet. If you bother to look at previous years annual report s you can find different valuations quite easily. There was in fact an offer made for the facility at closer to $50million but it was contingent upon securing other assets as well ( at additional cost) but that failed early on in the Business rescue process. Next, under EVRAZ Vametco made Nitrovan (not FeV incidentally, V2N) not from mined ore from the Vametco Mine, but from the SIag produced from their Steel works which operated under an EU competition ruling stipulation using Ore from the Mapochs Mine. EVRAZ were in the throws of trying to procure access to the Brits Ore from Sable Mining when BMN bought Brits out from Sable. With Mapochs all but played out and the Steel price in free fall EVRAZ could not exit this loss making venture quickly enough. The only part of that campus business that made money in the last three years was in fact Vametco. EVRAZ even reverted to generating Nitrovan from Vametco ore once the SIag was no longer available to them and continued to turn a profit. Anyone who followed the Business rescue process closely enough would have realised that EVRAZ were intent on retaining Vametco for a long time and only when the SA government effectively blocked their attempts to get out of the mess that was the Steel business too cheaply did they decide to cut their losses and exit SA altogether. The higher offer for Vametco was stymied by the failure of EVRAZ to secure Mapochs and when Vanchem closed its doors too and laid off the staff so quickly the Vametco bid evaporated leaving a deal for Bushveld who had been quietly doing their due diligence and cultivating a relationship with the SA government and the Unions too. In terms of output and profit, the numbers are there for all to see and even prior to debottlenecking, the plant will make a Gross profit at current 2419 Tonnes Vanadium equivalent production at todays price for Nitrovan of about $36.5Million of which BMN's share is a shade under $10m. To those who have been trying to sew doubt and misinformation, before you come on here spouting B/S do some proper research or crawl back under your rock. I have been in email communication with the Business rescue practitioner, with the Unions steering committee and for a long time with a local SA Journalist whom I tipped off to get the scoop that broke the BMN bid story - her information was very useful in piecing things together. I suppose you used Google or Ask. Please just give up and go away. Too many people on this board are too well informed to be hoodwinked by a set of faded Gordon Geko Braces and some sly patte

[bookwormrobert] 23/3/2017 16:30

Enewman - watch and learn the painful way how shares are pumped and dumped on AIM. By the way, I'm hardly alone in spotting that Bushveld is a pile of ordure - there's an article on Share Prophets about it. You might also ask yourself why Vametco was on sale; it's something to do with the previous owner, Evraz, finding out that they were losing money with it.

[enewman36] 23/3/2017 16:06

Same goes for your disciple Palinka....