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
  -0.65 -3.1% 20.35 2,519,763 15:08:31
Bid Price Offer Price High Price Low Price Open Price
20.20 20.50 21.00 20.20 20.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 150.63 67.91 2.27 9.2 228
Last Trade Time Trade Type Trade Size Trade Price Currency
16:28:37 O 136,524 20.30 GBX

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Date Time Title Posts
23/1/202017:49Bushveld Minerals11,268
14/9/201911:42Good management119
30/5/201821:2110 bagger Road to production94
28/3/201811:35NEW Bushveld Minerals (Moderated)42
27/8/201721:44Google Synohydro Gabon35

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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 21p.
Bushveld Minerals Limited has a 4 week average price of 18.75p and a 12 week average price of 17.75p.
The 1 year high share price is 41.50p while the 1 year low share price is currently 17.75p.
There are currently 1,119,057,953 shares in issue and the average daily traded volume is 1,279,086 shares. The market capitalisation of Bushveld Minerals Limited is £227,728,293.44.
truthhurtslessthan losses: I notice that Largo stayed away from reporting on the V price in their update which I'm sure will have helped given where V prices are currently. At least given that they have delivered on production increases if V price was ever to recover they would be primed to benefit hugely. Imagine where we would have been if we had managed to produce another 2000 tonnes during that 2018/19 period of sky high priced. At average prices of just $60 we would have made $40k per tonne profit so an extra $80m of cash in the war chest. NVH is right to bemoan the lack of progress it has cost shareholders a third of the current share price in cash in that respect. Let's not be too quick to forget that when we're talking about Fortunes track record. I agree that targets and reality are two different things but he should be careful not to mislead investors and investors should be careful not to be misled. Particularly where V prices and BE are concerned...
74tom: I’d really appreciate that TruthHurts - Bushveld has always been a very interesting investment case, however I’m not a fan of the cult like LSE bulletin board where contrarian opinions or objective evidence are treated like sacrilege. The fact is none of the experts over there foresaw the collapse of the Vanadium price, and the inevitable negative impact on the share price. Instead they would rather blame it on market makers manipulating the share price or shorting activity , despite a notifiable position never being disclosed. So in summary, objective research is at a premium, so any fact based update on pricing that you can provide will be very useful!
jc2706: I am pretty certain that the share price has been heavily impacted by the Vanadium price (indeed, I could make a pretty decent argument that it explains the entire fall) but I don't see any 3 month lag. The share price peaked first on 16th November which marks the top of the Vanadium price swing. There was a brief move up in February 2019 which coincides broadly with the uptick in the Vanadium price. Stability from July to November which correlates quite well. Nothing is perfect and the correlation here isn't either (the second spike early in 2019 for example) but 3 months does not appear to be consistent with the evidence. But miners are always impacted by the price of the commodity they produce. However, such is the nature of equities, they tend to be predictive of the commodity price - if you consider gold miners, it is quite often the case that the miners rise a few months before gold.
jc2706: Personally I think that is too high for VRFB uptake but I suspect that the BMN share price would react at lower prices. It is still very difficult to see where the Vanadium price is going to go. The suspected drivers thus year seem not to have materialized and the dominant factors would appear to have been a massive increase in Chinese production and substitution, neither of which were deemed as being likely to the levels we have seen. Given the fact that industry observers have proven themselves to be incorrect you have to wonder whether they will be any more accurate in the future.
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: 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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