Ecologist
03 Apr 2017
Re: 57 days to go 26% ..... was the loan taken on the corporate credit card?
Mabuhay
03 Apr 2017
Re: 57 days to go I agree. It is in the pipeline, whether it works or not is obviously yet to be finalised but that sentence alone is a clear hint that there is something being worked on.
cresta64
03 Apr 2017
Re: 57 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
03 Apr 2017
Re: 57 days to go I think the interest rates & fees Bushveld is paying for the bridge loan is a good reflection of how easy or not it is for Bushveld to find new financing. Why do you think our friends at Barak Funds is charging a annualized interest rate of 26% if Bushveld mgmt was in a position to pop into the Standard Charter Bank office in Joburg and get a loan of $11m?I guess Barak Funds is willing to take the risk, as if Bushveld is failing to find debt financing, Bushveld will be looking at two options, 1) Raising the $11m in equity, 2) Raising parts of the proceeds in equity and try to get an extension for parts of the loan from Barak Fund. In both situations, Barak Funds is fairly safe. Its the shareholder who is carrying the risk of getting diluted.
Mabuhay
03 Apr 2017
Re: 57 days to go I may be wrong but I find it hard to believe any person/company would loan $11m for 2 months without having a fair idea of where the main funding will come and it is only a matter of dotting the i's and crossing the t's. At the very least I would expected Bushveldt to have a fairly firm idea and approval in principle that they can now nail down more firmly.
EasyBrent
03 Apr 2017
57 days to go 57 days until Bushveld needs to replace the bridge loan. If they can't find a bank willing to lend them $11m they might have to come to the market and raise equity.The bridge loan is on 26% annualized interest rate, not a sustainable rate to pay for a small cap miner.
quink ink
03 Apr 2017
Re: Buckle up 8.7 to buy
quink ink
02 Apr 2017
Buckle up Opening price above 9p a distinct possibility in the morning.
cresta64
01 Apr 2017
EasyBrent and Elviron1 You two are clearly professional shorters as your posts appear to only point out potential negatives with no positives whatsoever about BMN. You also refer to lse posters as rampers, a common term used by shorters. Obviously you are entitled to express your opinion but anyone reading it should be aware that you are likely not representing their interests and that it is in your interest for the share price to fall.
quink ink
01 Apr 2017
Re: Gun to the head Shorters. ha ha ha. Your both well in the pond and are well and truly burnt. Any doubters check out the LSE board. Class will always out and BMN are the best share I have ever invested in. Oh....and 222k up to date.
Elviron1
01 Apr 2017
Re: Gun to the head Thanks, have done so and referenced you so be prepared for more activity over here in response!I also added to your point (1) that if they do achieve it, they will quite likely do at least a partial issue of equity - never a popular one with investors as it's invariably at a discount.
EasyBrent
01 Apr 2017
Re: Gun to the head Elviron1, pls go ahead and post my post on lse. The next 2 months will be very interesting for Bushveld:1. Will they be able to refinance the bridge loan? 59 days to go.2. In what shape is the Vametco operation in now when they are taking over it?3. Why didnt the other stakeholders in Vametco use the pre-emptive rights to buy the asset for $17m when the implied value of the asset in Bushveld was 3x that valuation?
Elviron1
01 Apr 2017
Re: Gun to the head Correction - it is an $11 million bridge! The $1 million is the fee for the two month loan.And as you say, there is a decent probability that there will be an equity raise to pay for part of it. It will almost certainly be at a discount to the shareprice too.That might be a nice time to re-enter, after the dust has settled and it is materially derisked. But not now thanks.
Elviron1
01 Apr 2017
Re: Gun to the head Are you joking "quick ink" - head on over to the LSE board and tell me that it is not being ramped there.
quink ink
31 Mar 2017
Re: Out (at least) for now EcoBest joke from you I have heard this year.Sad day for you.
