cresta64
04 Apr 2017
Re: Multitasking or Overstretching? Fair comment - shouldn't be offensive - I apologise for that. It was only the close coupling of your posts and common negativity between you both that triggered it. With regards to the price - looks to be a good deal for BMN. Potentially a decent share of 90kts of Tin for less than 6% dilution, assuming the deal is approved.As for the share price drop - only a temporary thing, and not something to be concerned about. not if you view BMN as an investment. Obviously traders might see otherwise. Looking at the positives BMN will shortly be producing 2 assets, initially Vanadium and then Tin within the year - how many AIM miners can claim to be doing that?Also - lots of news still to come. Exciting times ahead - you'd be a fool to trade this share!
Ecologist
04 Apr 2017
Re: Multitasking or Overstretching? CrestaIf you want to be offensive, this is not the place. Check the times of our postings, almost identical and the rns came out a few moments before. A conspiracy theory involving EasyBrent and me is getting a bit paranoid.The sp is dropping and i believe THAT is your problem, not that two posters happen to agree that the price paid is almost five times the reported amount.
cresta64
04 Apr 2017
Re: Multitasking or Overstretching? Do you not have your own destiny - or are you destined to shadow Tim all your life. Man up and voice your own opinions - we won't hurt you - honest!
cresta64
04 Apr 2017
Re: Namibia deal very expensive Its potentially 90kt of tin - which is a very good deal. I suspect the uplift of the share price was anticpated given that FM is well aware of the news flow that will be coming, and that was factored into the agreed price of 41m shares. I would be worried if I was you Tim - more news is to come.
cresta64
04 Apr 2017
Re: 56 days to go It may have been the only option until they actually control Vametco when other finance options will be opened. Worse case scenario would be they go to the share holders and do an equity raise for the $11 which would only be another 114m shares issued, with the recent warrant sales covering the interest.As a share holder I could live with that given that it will transform Bushveld from being an exploreer to becomiing a producer and open up opportunities for VRB electrolyte production.However - Fortune already stated in the RNS today that "BVL intends to refinance the Bridge Loan following completion of the Acquisition and discussions are advanced in this regard. There is no expectation that any refinance will be completed through an equity issue" so he's indicated that he's not expecting to finance via the equity route. Its possible that the finance could be through asset sale (tin or coal), IDC funding, UET funding, or a longer term loan at better interest rates which may be easier to get once BVL owns Vametco.The bottom line is how much do you trust Fortune to deliver? He's done very well in many peoples eyes, myself included, in switching from iron to Vanadium when iron prices fell (and presumably CREC lost interest), taking over Lemur cheaply giving access to coal and funds, Lemur taking over Brits, and now BVL taking over Vametco which can utilise Brits. So he has proved he can deliver.It should be an interesting couple of months.
Ecologist
04 Apr 2017
Multitasking or Overstretching? Acquisition of significant interest in Uis tin project, Namibia:[link] bit that caught my eye was:"the consideration that was agreed for the Acquisition was £650,000, payable through the issue of 41 million ordinary shares of 1 pence each in Bushveld"Try calculating how much it would cost to buy 41 million shares in the market at 7p a pop ..... (£2.87 million). I think they probably bit the chairman's hand off for that deal.
EasyBrent
04 Apr 2017
Namibia deal very expensive When Bushvled announced to buy into the Uis tin project in Namibia they announced that they would pay £650k.The deal has now been completed, and paid for with 41m new shares!!! At the current share price the deal as suddenly become 5x more expensive.Bushveld keeps printing share and increasing the dilution for the shareholders.736m shares in issue41m warrantsNow 41m share for Namibia dealHow many shares will they have to issue if they cant refinance the bridge loan?
EasyBrent
04 Apr 2017
Re: 56 days to go cresta64,If Bushveld was in a position to get long-term debt financing, why couldn't they get that in place until 31 March? Its not like they announced the SMC deal a few weeks ago and needed to put bridge financing in place. The SMC deal was announced first week of May 2016!! Bushveld mgmt have had 11 months to get long term financing in place which they so far have failed to do. Now they are instead sitting with a bridge loan costing 26% in annualized interest rate and need to find new financing in 56 days. They are also financing part of the deal by selling out the inventory of Vamecto, if this isnt a stressed situation for Bushveld, what is it then?
Mabuhay
04 Apr 2017
Re: 56 days to go Scaremongering and spreading your unsubstantiated comments in the wrong place.
cresta64
04 Apr 2017
Re: 56 days to go You need to read the RNS dated 30/03/17 Tim and stop posting unsubstantiated speculations about equity issue.The RNS states "BVL intends to refinance the Bridge Loan following completion of the Acquisition and discussions are advanced in this regard. There is no expectation that any refinance will be completed through an equity issue. "
EasyBrent
04 Apr 2017
56 days to go 56 days until Bushveld will need to refinance the $11m bridge loan. Can they get debt financing or will they need to raise equity and dilute existing shareholders?
cresta64
03 Apr 2017
Re: 57 days to go Tim - I've seen a lot of shorters constantly repeat the same messages in order to try and induce negative sentiment and doubt, to try and influence shareholders into selling. You certainly tick all the boxes of being a shorter.
quink ink
03 Apr 2017
Re: Buckle up No probs Eco. Will accept your apology after it hits above 9p Friday.Have a good wee
EasyBrent
03 Apr 2017
Re: 57 days to go cresta64,I have heard a lot of AIM companies saying "we intend to refinance with debt" and "there is no need to issue equity", seen this movie many times.Tomorrow Bushveld will have 56 days to go until they need to come up with $11m.
Ecologist
03 Apr 2017
Re: Buckle up Quink (all in good fun), you may be indelible but Mystic Meg you ain't !!You copped out this morning on the 9p open ....But then I remember your posts from last year when the Vametco deal was first revealed and the shares suspended. You predicted in your post of 21-04-2016 (Queen's birthday no less), remember?"Move the decimal point to the right on the suspended price above - 21p to 28p - when we open in the morning"I tell you what and, like I said, in good fun, if BMN finishes the week above 9p, I will humbly apologise on this board. But if it doesn't, perhaps you should switch to the washable variety of ink - at least that can be deleted! And more seriously, I believe I made the right decision by selling yesterday but each to their own, stay in your comfort zone. My feeling is that the price has gone up too fast and will slip back. At around 6p I will think of coming back in. But as I said in my original post, 300% profit in the first quarter was too much to let ride on the next race.Eco
