Bushveld Minerals Share Discussion Threads

[megaman2] 30/6/2021 20:18

production run rate to between 5,000 mtVp.a. and 5,400 mtVp.a, from the projects currently being executed, with further growth ahead as more capex is spent


Wasnt bmn fully funded to deliver 6750 mtv the mantra......now it's fully funded to 5000 MTV....!!!!

Also where is the £5 mill to pay duferco off coming from in Nov?

[lordlucan1] 30/6/2021 20:12

Assumed that's accounted for in declared balances.

[megaman2] 30/6/2021 19:56

Have you included $7.5 million into enerox?

[lordlucan1] 30/6/2021 19:56

What'e happened with cash this first half year, they have cashed in IES shares $13 million and cash balance dwindled down by some $20 million.

For the remainder of year they will be spending big, another loss for year end is almost nailed on unless vanadium prices keep rising, prices fall then what happens?

$26.8 million to be spent by year end, spent $8.6 million leaving balance $18.2 million or $3 million per month.

No mention of costs for VRFB etc, things are tight are they not?



Group Capital Expenditure

-- Capital expenditure expected for 2021 of approximately US$26.8 million, of which we have already spent US$8.6 million as at 31 May 2021, with most of the cost being Rand-denominated. The Capital expenditure includes the following

-- Vametco approximately US$6.0 million;

-- Vanchem approximately U$11.3 million; and

-- Bushveld Energy, approximately US$9.5 million, including the capital of Bushveld Electrolyte Company ("BELCO"), (principally funded by Bushveld Energy's partial asset sales of its Invinity shares in H1 2021.)

[gah123] 30/6/2021 19:18

Better close that short quick with all the bad news out the way. We will be adding to the 2.2m pbt per month with price rises continuing going forward

[gah123] 30/6/2021 19:04

Absolute nonsense you and your new alias

[megaman2] 30/6/2021 18:59

Thanks for that prospector it won't stop GAH he's been sent over from the numpty telegram group and will be back with same ramping drivel re - packaged in a different manner. They consider it being optimistic and supporting your investment but it's just false information.

What's ironic is far has been classed by many bmn supporters as too good to be true on the premise you can mine v for zero cost . However the irony is so was the purchase of vametco too good to be true. An asset was bought for small money with cash flows that effectively paid for the installments and was going to be producing 5000 MTV . Smell the coffee this was all too good to be true. It was still transformational for bmn as they would still be the same as ironveld. But it has been ramped massively by both fortune and the die hard supporters which are actually getting a smaller nastier bunch.many have moved on some of them will not give up the ghost .

[fsawatcher] 30/6/2021 18:37

this company never makin any money

just watch

you be avin nuther placin soon at 9p

[pr05pector] 30/6/2021 17:57

You're absolutely wrong of course.

The depreciatoon admin, overheads and sustainjn capital costs split between a measly 3400 units works out at around $11.5 once adjusted for the weakening in the USD.

Then on top you have a weighed average cash cost of production of $26.4. (That's the average across both plants weighted for throughout at each).

That gives a breakeven of $38.

Finance costs may well need revising upwards too as many of those came late in 2020 so there won't be a full years worth.

Pre Vanchem we were looking at $28 breakeven.

Costs have spiralled hugely courtesy of empire building spreading us far too thin.

If we breakeven in 2021 we will have generated c$17m profit as that's the level of depreciation being the only material non cash cost.

I'm not sure how far that will go in terms of plant improvements. Better hope it keeps is from having to raise funds at these prices.

[pr05pector] 30/6/2021 17:35

Let me spell it out to you Gah. You're wrong.

The breakeven price is now around $38. We're lucky to achieve 95% of last months LMB average price. At todays value that's around $40.

So we make $2k profit per MT of which we generate around 275 -300 per month. History suggests we should expect the lower end of the guidance - always.

So after all of this V price growth and the anticipation that built we find we still will only make around $550k a month.

If we don't maintain the $5m of savings that we had in 2020 due to covid then that will too soon be eaten up.

Stop spreading your falsehoods or evidence your numbers. Nobody wants leading further down the garden path on this one.

[capablanca64] 30/6/2021 17:26

Single digits tomorrow?

[gah123] 30/6/2021 15:35

Your the one misleading. Let me spell it out for you, BMN is generating 2.2 m pounds sterling before tax per month at current prices. This takes into account revised guidance and higher production costs. Net profit after tax won't be too far off this figure with a loss carried forward from last Yr. This doesn't take into account further price rises which are inevitable with a structural supply deficit in play.

[nvhltd] 30/6/2021 15:18

The man admits it himself. He over promised and under delivered. Now he tells us what we’ve known for 4 years.

He’s misled investors and the market for years. The growth plans are out the window and certainly can’t be relied upon.

Fortune has cried wolf too many times and now has little or no credibility. Time to go.

[dmitribollokov] 30/6/2021 14:45

Gah - did you not just read the annual report?

[megaman2] 30/6/2021 14:44

Be careful with the language nvhl you will get filtered for mentioning that word

[megaman2] 30/6/2021 14:43

GAH is that all you can ever post gross figures .it's not illuminating especially when bmn only own 74 % of vametco.its a repetitive Clear attempt to distort the facts.

[nvhltd] 30/6/2021 14:00

Just logging in to the analyst call to hear Fortune make his excuses.

[gah123] 30/6/2021 13:56

To put things in perspective BMN is still generating £2.2m profit per month at current prices, down from £2.7m with the revised guidance. Vanadium prices are expected to rise further so business still generating solid cash flow to fund growth. Short term pain for long term success.

[purchaseatthetop] 30/6/2021 13:48

I sold half my holding at a loss and put it in MCRO. Vanadium prices may rise but who is to say production will not fall? Will look to increase again when we see WTF the leadership are doing. The reduction in output for 2021 takes my breath and belief away.

Time to concentrate on growing companies....shame.

[dmitribollokov] 30/6/2021 13:47

The lse board is an embarrassing animal farm type affair…

[plat hunter] 30/6/2021 13:39

Some crazy cash burn, looking like more Orion style financing will need to be arranged within the next 12 months.Not even sure I even want to trade it anymore. More likely to go bust than multi bag.

[plat hunter] 30/6/2021 13:31

That's we cut our losses, those tea leaves a shrewd investment now.

[megaman2] 30/6/2021 13:03

My faith in fortune is now seriously under question. It would not surprise me if they are preparing to recommend a bid to the shareholders. I know 5heres an argument about pi's voting against it but if fortune recommends it how many will follow.

[nvhltd] 30/6/2021 12:44

They have upto the minute data available to them. They sold because they can see all the efforts to raise production todate have failed. They are finally admitting that the plant is unreliable, unpredictable and has lacked preventive maintenance.

Instead of dangling a carrot how about they come completely clean and lay all their cards on the table so investors can make an informed decision about their investment.

Nothing on Lemur again. FFS it’s a business we own. What’s going on with it?