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 Shares Traded Last Trade
  -0.50 -1.82% 27.00 8,653,095 16:35:29
Bid Price Offer Price High Price Low Price Open Price
27.00 27.50 28.75 26.75 28.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 150.63 67.91 2.27 12.0 302
Last Trade Time Trade Type Trade Size Trade Price Currency
17:43:36 O 49,964 26.997 GBX

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Date Time Title Posts
23/10/201922:22Bushveld Minerals10,835
14/9/201912:42Good management119
30/5/201822:2110 bagger Road to production94
28/3/201812:35NEW Bushveld Minerals (Moderated)42
27/8/201722:44Google Synohydro Gabon35

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Bushveld Minerals (BMN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-10-23 16:43:3627.0049,96413,488.78O
2019-10-23 16:22:0927.41100,00027,411.00O
2019-10-23 16:16:5927.38128,56935,195.76O
2019-10-23 16:15:0026.55445,000118,147.50O
2019-10-23 16:02:5827.504,8461,332.70O
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Bushveld Minerals Daily Update: Bushveld Minerals Limited is listed in the Mining sector of the London Stock Exchange with ticker BMN. The last closing price for Bushveld Minerals was 27.50p.
Bushveld Minerals Limited has a 4 week average price of 19.50p and a 12 week average price of 19.25p.
The 1 year high share price is 50.10p while the 1 year low share price is currently 19.25p.
There are currently 1,119,057,953 shares in issue and the average daily traded volume is 9,500,436 shares. The market capitalisation of Bushveld Minerals Limited is £302,145,647.31.
jc2706: Sorry nvhltd. You still haven't grasped what I was trying to point out to you which I find incredible but there you go. I was not saying that the price of the product is the only thing that can influence a share price. Clearly other factors can and SXX's failure to raise finance has resulted in this. I was saying that the last year's price action for BMN has been completely explainable by the Vanadium price. It is overwhelmingly the most significant factor for BMN over the last year. Every other company apart from Largo is irrelevant to this.
jc2706: My goodness you still don't understand! I'm amazed. I have thought of another way of explaining it. A company has many fundamental factors that influence performance. One of these is the price at which they can sell their product. In the case of miners, they have little control over this factor. Over the last year the Vanadium price has been the overwhelmingly dominant factor in influencing BMN's share price. Yes, the other factors may well come in at some point to influence it in the future but the share price performance suggests that the Vanadium price is massively the biggest influencer over the past year. Now, take the hat with a 'D' on it off your head and do some thinking.
jc2706: nvhltd, I don't know whether you are being deliberately obtuse or genuinely don't understand my argument. I don't know how I can be any clearer than I have been but you clearly still don't understand. I will try one more time. Of course the performance of a company ultimately has an impact on the share price performance but for the year to date the share price performance is entirely explainable by the fall in the Vanadium price. The evidence for this is that the only other quoted Vanadium miner has fallen exactly the same amount in that period. The ONLY thing that they have in common is that they both produce Vanadium which has fallen in price. Yes, there have been occasions during the year where the price has responded to news but, nevertheless, it has still reverted to exactly the same trend as the only other quoted Vanadium producer. Whether this will be the case in the future is entirely debatable. I suspect not. In fact there are suggestions that this may be changing and with a stable Vanadium price the market will switch its attention to other fundamental factors (believe it or not the price of the product you sell is a fundamental). Now, is that clear enough?
jc2706: I confess that I do not agree with this assessment nvhltd. In the normal course of events I would agree that production misses would seriously affect the share price. But this is Vanadium and you really only have a choice of two companies if you want to buy into a producer. As such, any production glitches are a blip on the chart when the Vanadium price is rising. When it is falling the investors move on and the shares in both the companies fall in unison. So, in actuality it is not difficult to come to the conclusion that with the Vanadium price environment we have seen in the last few years nothing else matters for the share price. Should the Vanadium price stabilise for a few years then I would expect your assessment to be far more relevant.
jc2706: Pediment, I tend to agree with the macro which is why I am currently holding a fair amount of cash currently as well as gold shares. Still hold here but I got the macro argument around Vanadium badly wrong. Unlike nvhltd I believe that the primary driver in the share price is the Vanadium price (you can't have a share price of a miner performing well when the underlying commodity is collapsing in price). Once this clearly topped out the headwinds were inevitably going to be strong but I honestly thought that the structure of the Vanadium market was materially changing. I still think that it will but the timeframe is likely to be much longer than anticipated and anyway, China is in control currently. Unlike many, I am not looking for BE to set the world alight other than to drive demand for a slightly higher margin form of Vanadium - electrolyte. The rest of the business will be high revenue low margin which are poor quality earnings.
jc2706: I am fascinated by this short position. It is pretty small so the fact that it exists or the impact on the share price is pretty irrelevant. The thing that fascinates me is the fact that it has increased at a time when the price action in both Vanadium and the share price has notably shifted and to be frank you would have to not be watching very hard to notice it. I would have thought that they would be closing this now but no - they have increased it recently. I remember Platt Hunter on here talking about the lower highs and lows in the share price during the March/April period and he was correct. Well, we are beginning to see a similar scenario here and if this latest uptrend can rise above 31p or so then that would be three of each. Clearly our shorter has a different viewpoint. Either they see weakness in the Vanadium market going forwards which doesn't support current valuations (as I believe they also have a short on AMG which may indicate Largo as well) or there is some other driver of which I am not aware.
tsmith2: Bushveld Minerals* (BMN LN) 28.5p, Mkt Cap £319m – Vametco ore reserve grade rises to 2.02% as reserve more than doubles to 279,100t of V2O5 in magnetite BUY – Target price 90p (Bushveld Minerals hold 9.5% of AfriTin which has the Uis mine in Namibia) (Bushveld holds 71% of the Vametco mine and process plant in South Africa) (Bushveld recently agreed to buy 100% of the Vanchem process plant and associated mine in South Africa) CLICK FOR LAST PDF Bushveld Minerals report a significant increase in the grade and scale of the vanadium reserve at the Vametco mine in South Africa. Drilling and reserve evaluation shows the grade to has risen to 2.02% V2O5 in magnetite from 1.96% estimated previously. This is a meaningful increase in the grade and shows the Vametco to still rank as one of the world’s highest grade vanadium mines. Ore reserves have also rise to 279,100t of contained vanadium in magnetite from 137,152t previously. Indicated resource, which are less well defined, also rises by 187% to 965,900t of V2O5 in magnetite due to a number of recently completed drill holes. Probable ore reserves are 48.4mt across the three seams averaging a grade of 2.2% V2O5 and an average magnetite content of 28.5% in whole rock. The Lower seam varies from 13.8-52m in thickness with 40.2mt grading a higher 2.05% magnetite and an average magnetite of 29.4% for 135,600t of vanadium. The figures reflect the work done on the geology and an new focus on better managing and scheduling the mine which should add meaningfully to the operations. Ferro-vanadium Ferrovanadium prices stabalised at $35-36/kgV in Europe last week. Prices are now at $35-39kgV in China having fallen to better match European levels. European buyers have held back from vanadium purchases due to slowing German and Eurozone economic growth, recession in Italy and the potential impact of Brexit. AfriTin facility Bushveld Minerals have agreed to provide working capital support financing for ~$2.1m to AfriTin. The 12-month facility to AfriTin is intended to provide working capital through the commissioning of AfriTin’s ‘Uis’ tin mine later this year. The standby facility interest rate is at 12.5% and is secured against AfriTin’s process plant though it would be odd if having spun off AfriTin if Bushveld were to effectively repossess the operation. Certain conditions apply to the drawdown including the completion of a £3m funding at AfriTin. Share price movements Bushveld management commented yesterday on the company’s share price movement. Management state “it is not aware of any corporate developments that support such a movement. The Company notes the recent falls in the Vanadium price but believes the vanadium market remains in a structural deficit that will support higher prices in the medium to long term”. The stock which opened at 22.75p yesterday morning and fell a further 11% to 19.5p then rallied by around 50% to 29.5p following the announcement. We are sorry if any short-sellers were hurt in yesterday’s rally. *SP Angel acts as Nomad & broker to Bushveld Minerals.
jc2706: Not sure that there is much correlation between BMN share price and the wider market but there certainly has been with the Vanadium price (not a straightforward 1:1 but correlated nevertheless).
abbotslynn: Another great encouragement for our share price from the internet today- Using the production guidance of 3,680 tonnes, FeV at $75 per kg and all in costs of $25 per kg (conservative), Vametco generates $184m net profits, our share is $107m. That gives us profits after tax of £57m and a forward PE of just 4.11 at the current share price of 21.85p. A fair PE of 15 would increase our share price to 80p. Production increases to 5,000 tonnes pa next year, increases our share of profits after tax to £77m, giving us a forward PE of just 3.02. A fair PE of 15 would increase our share price to £1.08. Taking out Sojitz and producing 5,000 tonnes pa at the current FeV price increases our profits after tax to £98m, giving a forward PE of just 2.38, at the current share price of 21.85p. A fair PE of 15 would increase our share price to £1.38. This just takes into account Vametco. Bring on Mokopane, Brits, Bushveld Energy, electrolyte, Eskom, brownfield, Imaloto coal, etc! :)
abbotslynn: Thought I would pass on this message by a fellow BMN holder on another internet site this week- Enjoy Imo, there is an excellent chance that Bushveld’s share price will be well in excess of £1 next year. Firstly, last week’s webinar confirmed our thoughts on the future of the FeV price. Demand/supply forecasts show that it is going to be a very favourable period for all vanadium producers over the next few years. The supply shortage is set to continue; there will be growing vanadium demand and only limited new supply coming on line, mainly through our own expansion and from Largo’s expansion. Therefore the FeV price will remain very strong throughout this period and from a starting point of around $70 to $75 per kg, any bounce will be very positive for both BMN’s profits and therefore it’s share price. Secondly, we know that Phase 3 of the Vametco expansion is underway and is likely to be finished ahead of schedule, taking our production to over 5,000 tonnes pa. Thirdly, the planned Sojitz buyout will take our Vametco share to 74%. Buying out Sojitz and producing 5,000 tonnes pa at an average FeV price of $75, gives Bushveld profits after tax of £95m, giving a forward PE of just 2.61, at the current share price of 23.2p. With our incredible growth prospects, I think it is easy to justify a PE of at least 15. That would give us a share price based on those figures of £1.33 later next year. The FeV price almost certainly has further to rise from its current levels, increasing our profits and therefore our share price even further. Also, bear in mind that this valuation only takes into account our share of Vametco. We also have so much more to come. In no particular order. Mokopane mining licence (imminent). Details of Mokopane early revenue generation. Brits vanadium resource news. Bushveld Energy contracts/progress. Electrolyte production news. Eskom VRFBs. Potential brownfield addition. Imaloto coal. etc! It’s been said many times before, Vametco is definitely just the launchpad. Bring on £1 and beyond! DYOR of course :)
Bushveld Minerals share price data is direct from the London Stock Exchange
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