Bushveld Minerals Share Discussion Threads

[purchaseatthetop] 21/6/2021 10:31

Nvhltd...I think that the vanadium storage new demand has changed the game. Vanadium prices will rise and then not plummet. On why we are not at 3750mtv....its Africa.

But as napoleon did not say....I prefer a lucky general to a good general.

[gah123] 21/6/2021 10:18

To FM's credit he acquired Vanchem which together with Vametco is forecast to produce circa 4,100 mtv this yr. That's a massive operation delivering considerable revenue and profit at current prices.

[nvhltd] 21/6/2021 09:57

Purchase: Exactly. Judgement hasn’t played a part. We didn’t reap the full benefits of the rise during 2018 and we’re not going to reap the full rewards of this rise too when production guidance for this year is circa 2,700 mtv instead of 5,000mtv.

Will the Vanadium price rise significantly and last longer than 2018? Let’s hope so, because Fortune can not be relied upon. I appreciate the maintenance to a point, but why we aren’t at a steady state of 3,750 mtv per annum is a mystery.

[purchaseatthetop] 21/6/2021 04:37

Extraordinary rises continue. There is no denying that Fortune is being saved by the price rises.

FV 50% +0.7 to 1.53%
FV80% +0.7 to 1.2%
V pent 92% +0.8 to 1.36%
V pent 98% +0.8 to 1.31%

Lucky lucky lucky. And IMO only going to continue. Happy days.

[purchaseatthetop] 20/6/2021 12:13

Nvhltd....I got my dates wrong. Phases 1 and 2 have delivered nothing.

[nvhltd] 20/6/2021 12:07

Covid hit in March 2020 roughly.

I disagree about Fortune. If he was sold a pup then he has to take responsibility for failing to carry out meaningful due diligence.

Likewise after we become the owner and responsible he instigated a 3 phase expansion program to take us to 5,000mtv by the end of 2019.

Phase 1 and 2 were completed by June 2018. Three years ago. Phase 2 was supposed to deliver 3,750 mtv per annum. In the 3 years since they successfully implemented phase 1 and 2 they have never delivered.

Phase 3 has been pushed out by 3 to 5 years and the 5,000mtv so often targeted in the early years suddenly became 4,200 mtv per annum. No reasonable explanation was given for dropping the target by 800 mtv or why they have pushed out phase 3 given the structural deficit and demand from VRFB’s.

A CEO can only blame his predecessors for so long before he has to carry the can.

[purchaseatthetop] 20/6/2021 10:59

Megaman....to be fair, Vametco was bought in end of December 2017 and covid hit in March 2019 when everything was put on hold. So the three years are really only 15 months.
However, time for delivery and maybe this time it happens. The crash of vanadium price and covid has been a perfect storm.

[megaman2] 20/6/2021 09:00

I think you know my view on this . I only think fortune has been naive and was misled by evraz and co. The reason the mine was bought so seemingly cheap was because it wasn't going to get to 5000 MTV with some de bottle-necking. If it was such a straight forward job why didn't the existing management and employees under evraz watch do it. I've come to the conclusion it was b.s. for me it is the only logical explanation. I'm not buying that fortune has made gross mistakes in the expansion he is a methodical guy and the workers at vametco are experienced and will know the mine like the back of their hand.so the initial plan for me was fundamentally flawed.

Fortune has taken bmn from 10 mill to 180 mill market cap before it was just an ironveld. There is no failure in increasing the market cap by 18 times. The rampers have created a false world where share price expectations and growth targets are constantly exagerated and when they don't transpire folk start to ask why and some may point the finger at fortune or the mystery seller or dark forces. A very good example was the Twitter campaign that promoted a fake company slide with 6750 MTV within a year . It's stuff like this that creates future perceived failure because that target is not going to happen in a year.this is the problem not fortune.

[nvhltd] 17/6/2021 22:27

Thanks Purchase.

It never ceases to amaze me how people attack posters that have an alternative view, but shy away from the ugly truths and are not prepared to have a grown up debate on the subject matter.

Fortune has to take responsibility for the poor performance at Vametco since we took over. He’s fired several managers and it’s still poor. Eventually the buck stops with him. After all he has had 5 years to sort it out and spent lots of cash on a 2 phase expansion program.

[purchaseatthetop] 17/6/2021 21:03

I like nvhltd. I like alternative views that challenge group think. Does not bother me. My simple belief is that the only thing that matters is the price of vanadium and that is going one way. Up. Even if BE gets no storage work somebody else will and vanadium price will rise to above $55 this year and then higher. BMN production will rise and the share price rises.

Plus I like checking vanadium prices each morning.

[maroonbells] 17/6/2021 19:53

Maybe more of a Dastardly and Muttley vibe going on.

[allabouttiming] 17/6/2021 19:48

Nv, so remind us why you still are invested or pretend to be invested here ?

[megaman2] 17/6/2021 17:42

I do hope you think nvhl is steptoe I don't mind being the son but please not the steptoe guy

[purchaseatthetop] 17/6/2021 15:54

It's like a 1960's sit-com here...

[nvhltd] 17/6/2021 14:56

Five f ing years later and Vametco hasn’t improved. How the hell Fortune and Mikhail still have jobs is anyone’s guess. It’s been a complete failure of leadership.

[megaman2] 17/6/2021 14:53

Next you will be quoting Terry pearls....or whatever his name is

[megaman2] 17/6/2021 14:50

Well there clearly a reason evraz sold it at the rock bottom price .....5000 MTV in no time with a bit of polishing....that was 5 years ago......it's two old mines . There will be plenty more of these maintenance shut downs...

The facts are at the long price average the for v the numbers don't look great so the rampers have to create a story of higher v prices long term.

Talking about gold us just b.s..rampers b.s.

[nvhltd] 17/6/2021 14:46

2015 year end production at Vametco was 2,419 mtv.

2016 year end production at Vametco was 2,804 mtv.

Five years on, 2 expansion programs later and a load of cash spent look at the benefits:

2021 production guidance is 2,700 to 2,850 mtv!!!!

“Still it doesn’t matter. It’s only investors money. We can always ask for more and keep them on the hook with more promises of jam tomorrow. We’ve got the crew on LSE and Telegram with their ramping posts, hostility to alternative opinions, personal attacks and GIF’s of cats and boats doing a sterling job of deflecting from the truth”.

[nvhltd] 17/6/2021 14:27

The production at Vametco is so shockingly bad given the money spent and time taken.

We missed an opportunity when the price spiked on the production side.

We missed an opportunity when the price was low on the BE side

And now we’re missing an opportunity on both sides of the business with production being so low when the Vanadium price is rising and on the BE side because the Vanadium price is rising with no sales and everything delayed.

No ramper can deny we are always unprepared and a step too late with current events.