View ValuationThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsBushveld Minerals 향후 성장Future 기준 점검 3/6Bushveld Minerals은 연간 수입과 매출이 각각 82%와 4.5% 증가할 것으로 예상되고 EPS는 연간 90%만큼 증가할 것으로 예상됩니다.핵심 정보82.0%이익 성장률89.99%EPS 성장률Metals and Mining 이익 성장18.2%매출 성장률4.5%향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트01 Aug 2024최근 향후 성장 업데이트공시 • Dec 17Bushveld Minerals Limited Provides Update on Extended Plant Maintenance Shutdown At VametcoBushveld Minerals Limited informed by the Piers Marsden and Jenna Osborne of Matuson & Associates (Joint BRPs) that they have commenced an extended plant maintenance shutdown at Vametco, which will continue until end-March 2025. The shutdown aims to rebase the business to optimise the turnaround by fixing the critical parts of the business that will efficiently generate revenue and ensure future sustainability. This period will allow sufficient time to plan, procure, and install critical components for the maintenance and sustainable operation of the plant. Once the plant is back online, it is anticipated its reliability will be enhanced, and it will operate close to full capacity.공시 • Jul 31Bushveld Minerals Limited Provides Production Guidance for the Year 2024Bushveld Minerals Limited provided production guidance for the year 2024. For the year, the Group production guidance will be between 3,800 mtV and 4,000 mtV.Breakeven Date Change • Feb 01Forecast breakeven date moved forward to 2024The 2 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$10.9m in 2024. Average annual earnings growth of 63% is required to achieve expected profit on schedule.Breakeven Date Change • Nov 29Forecast breakeven date pushed back to 2025The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 58% per year to 2024. The company is expected to make a profit of US$5.01m in 2025. Average annual earnings growth of 71% is required to achieve expected profit on schedule.Breakeven Date Change • Nov 06Forecast breakeven date moved forward to 2024The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$5.01m in 2024. Average annual earnings growth of 70% is required to achieve expected profit on schedule.Breakeven Date Change • Nov 01No longer forecast to breakevenThe 4 analysts covering Bushveld Minerals no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$13.2m in 2025. New consensus forecast suggests the company will make a loss of US$3.97m in 2025.모든 업데이트 보기Recent updates공시 • Dec 17Bushveld Minerals Limited Provides Update on Extended Plant Maintenance Shutdown At VametcoBushveld Minerals Limited informed by the Piers Marsden and Jenna Osborne of Matuson & Associates (Joint BRPs) that they have commenced an extended plant maintenance shutdown at Vametco, which will continue until end-March 2025. The shutdown aims to rebase the business to optimise the turnaround by fixing the critical parts of the business that will efficiently generate revenue and ensure future sustainability. This period will allow sufficient time to plan, procure, and install critical components for the maintenance and sustainable operation of the plant. Once the plant is back online, it is anticipated its reliability will be enhanced, and it will operate close to full capacity.Buy Or Sell Opportunity • Nov 09Now 89% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.0046, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to decline by 3.9% in 2 years. Earnings are forecast to grow by 97% in the next 2 years.New Risk • Oct 28New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: €9.01m (US$9.74m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$24m free cash flow). Share price has been highly volatile over the past 3 months (475% average daily change). Negative equity (-US$39m). Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Market cap is less than US$10m (€9.01m market cap, or US$9.74m).Buy Or Sell Opportunity • Oct 24Now 89% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.0044, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to decline by 3.9% in 2 years. Earnings are forecast to grow by 97% in the next 2 years.공시 • Oct 18An undisclosed buyer completed the acquisition of Lemur Holding Limited from Bushveld Minerals Limited (AIM:BMN) for $100.An undisclosed buyer agreed to acquire Lemur Holding Limited from Bushveld Minerals Limited (AIM:BMN) on July 31, 2024. Bushveld Minerals received approval from the Development Bank of South Africa to dispose of Lemur Holdings Limited, including its $2.5 million debt. The disposal remains subject to certain outstanding conditions being met. An undisclosed buyer completed the acquisition of Lemur Holding Limited from Bushveld Minerals Limited (AIM:BMN) for $100 on October 18, 2024. As a result of the completion of the Disposal, Bushveld is no longer liable for the outstanding $2.5 million debt owed to DBSA. Richard Morrison, Charlie Bouverat, Grant Barker, Abigail Wayne of SP Angel Corporate Finance LLP acted as financial advisors to Bushveld Minerals Limited (AIM:BMN).Buy Or Sell Opportunity • Oct 05Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 91% to €0.0005. The fair value is estimated to be €0.004, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to decline by 3.9% in 2 years. Earnings are forecast to grow by 97% in the next 2 years.New Risk • Sep 17New major risk - Negative shareholders equityThe company has negative equity. Total equity: -US$39m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$24m free cash flow). Share price has been highly volatile over the past 3 months (464% average daily change). Negative equity (-US$39m). Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€12.3m market cap, or US$13.7m).Buy Or Sell Opportunity • Sep 11Now 85% undervalued after recent price dropOver the last 90 days, the stock has fallen 97% to €0.0005. The fair value is estimated to be €0.0033, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to decline by 28% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.Buy Or Sell Opportunity • Aug 27Now 80% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.0025, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to decline by 28% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.Buy Or Sell Opportunity • Aug 08Now 83% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.003, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to decline by 28% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.공시 • Jul 31Bushveld Minerals Limited Provides Production Guidance for the Year 2024Bushveld Minerals Limited provided production guidance for the year 2024. For the year, the Group production guidance will be between 3,800 mtV and 4,000 mtV.공시 • Jul 13Bushveld Minerals Limited, Annual General Meeting, Aug 07, 2024Bushveld Minerals Limited, Annual General Meeting, Aug 07, 2024. Location: oak house, hirzel street, st peter port, gy1 3rh, GuernseyBuy Or Sell Opportunity • Jul 01Now 92% undervalued after recent price dropOver the last 90 days, the stock has fallen 92% to €0.0005. The fair value is estimated to be €0.0063, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%.Reported Earnings • Jul 01Full year 2023 earnings released: US$0.074 loss per share (vs US$0.031 loss in FY 2022)Full year 2023 results: US$0.074 loss per share (further deteriorated from US$0.031 loss in FY 2022). Revenue: US$137.5m (down 7.4% from FY 2022). Net loss: US$103.9m (loss widened 167% from FY 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe.Buy Or Sell Opportunity • Jun 19Now 92% undervalued after recent price dropOver the last 90 days, the stock has fallen 91% to €0.0005. The fair value is estimated to be €0.0065, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.Buy Or Sell Opportunity • May 25Now 91% undervalued after recent price dropOver the last 90 days, the stock has fallen 95% to €0.0005. The fair value is estimated to be €0.0054, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.Buy Or Sell Opportunity • May 09Now 93% undervalued after recent price dropOver the last 90 days, the stock has fallen 93% to €0.0005. The fair value is estimated to be €0.007, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.공시 • Apr 23Bushveld Minerals Limited Provides an Updated Mineral Resources and Ore Reserves for the Vametco Vanadium Mine Near Britishs on the Western Limb of the Bushveld ComplexBushveld Minerals Limited provided an updated Mineral Resources and Ore Reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex. The resources and reserve estimation was carried out by MSA Group Inc. in accordance with the terminology and definitions given in the JORC Code (2012). Key Highlights: The total Ore Reserves have increased by approximately 10% from the previous Ore Reserve estimate as at 31 December 2022. The Ore Reserves are reported as at the 31 December 2023 at 293,400 tonnes V2O5 in magnetite at a grade of 2.00% V2O5 (in magnetite). The combined Inferred and Indicated Mineral Resource comprises 3 Seams (The Lower, Intermediate and Upper Seams) and is reported as at the 31 December 2023 at 180.4 million tonnes (Mt) at an average grade of 1.98% V2O5 (in magnetite), with an average magnetite content of 35.0% (in whole rock) for 694.6 thousand tonnes of contained vanadium. The previously reported combined Inferred and Indicated Mineral Resource, as a 31 December 2022, was 181.5 Mt at an average grade of 1.98% V2O5 (in magnetite), with an average magnetite content of 35.0% (in whole rock) for 699.0 thousand tonnes of contained vanadium. Within this, the Ore Reserve in the Probable Category comprise 3 Seams (The Lower, Intermediate and Upper Seams) and is reported as 51.0 Mt at an average grade of 2.00% V2O5 (in magnetite), with an average magnetite content of 28.9% (in whole rock) for 164,300 tonnes of vanadium. The Lower Seam is the main ore seam and the thickest, ranging from 13.8 to 52.0 metres in thickness, comprising a Probable Reserve of 41.2 Mt at an average grade of 2.03% V2O5 (in magnetite), with an average magnetite content of 28.2% (in whole rock) for 132,200 tonnes of vanadium. The decrease in the total 2023 Mineral Resource, by 0.61% less tonnes than the 31 December 2022 estimate, is attributed to mining of the seams over the last 12 months. No Mineral Resource exploration was carried out over the period. The year-on-year depletion which was calculated to be 1.1 Mt, was offset by an increase in tonnage through improved definition of the existing pit design (1.7 Mt) and an adjustment to the modifying factors (4.1 Mt), resulting in an increase in the total Ore Reserves from 46.4 Mt to 51.0 Mt as at 31 December 2023. The Ore Reserve modifying factors (mining loss and dilution) were adjusted based on pit to plant reconciliation production data supplied by Bushveld Vametco Alloys (Pty). Ltd. This resulted in a significant increase in the Upper Seam ore tonnes from 36.2 Mt to 41.2 Mt.New Risk • Apr 14New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (278% average daily change). Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€29.2m market cap, or US$31.1m).Buy Or Sell Opportunity • Apr 09Now 84% undervalued after recent price dropOver the last 90 days, the stock has fallen 96% to €0.0005. The fair value is estimated to be €0.0031, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.Buy Or Sell Opportunity • Feb 16Now 83% undervalued after recent price dropOver the last 90 days, the stock has fallen 93% to €0.0005. The fair value is estimated to be €0.0029, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.Breakeven Date Change • Feb 01Forecast breakeven date moved forward to 2024The 2 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$10.9m in 2024. Average annual earnings growth of 63% is required to achieve expected profit on schedule.공시 • Jan 30Tanya Chikanza Announces Resignation of Finance Director of Bushveld Minerals LimitedBushveld Minerals Limited announced that as an update to the announcement on 16 November 2023, the Company has now completed its investigation in respect of the Finance Director, Tanya Chikanza's alleged failure to disclose a material conflict of interest. It has been established that Ms Chikanza made an oral disclosure to the previous CEO. Notwithstanding this oral disclosure she accepts that it was not in accordance with the Company's Conflict of Interest Policy and constitutes a breach of the policy. The Company has elected not to pursue the disciplinary process and the parties have agreed that Ms Chikanza's employment will end on 31 January 2024.Buy Or Sell Opportunity • Jan 20Now 78% undervalued after recent price dropOver the last 90 days, the stock has fallen 74% to €0.0025. The fair value is estimated to be €0.011, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 5.2% in a year. Earnings are forecast to grow by 24% in the next year.공시 • Dec 21Bushveld Minerals Limited (AIM:BMN) completed the acquisition of remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited.Bushveld Minerals Limited (AIM:BMN) signed an agreement to acquire remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited on October 30, 2023. Bushveld will issue 232.83 million shares along with payment of ZAR 18 million in cash to BVI 1833.Completion of the Transaction also secures fulfilment of a key condition precedent to the Orion Convertible Loan Note Refinancing agreement, announced on 27 November 2023.The Transaction is subject to South African Reserve Bank approval, which is expected to be received within 6 weeks. As on December 19, 2023, Bushveld Minerals has met all the necessary conditions and received final approval from the South African Reserve Bank. Completion of the Transaction will take place on the later of the fifth business day following SARB approval being granted or the Company publishing an announcement to confirm completion of the Company's debt restructuring transaction. Following completion of the Transaction, BVH will apply to the Minister of Mineral Resources and Energy to amend and update the BVH Mining Right to reflect the updated ownership structure. Richard Morrison, Charlie Bouverat, Grant Baker, Richard Parlons of SP Angel Corporate Finance LLP acted as financial advisors to Bushveld Minerals Limited (AIM:BMN). Bushveld Minerals Limited (AIM:BMN) completed the acquisition of remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited on December 19, 2023.공시 • Dec 14Bushveld Minerals Limited has completed a Follow-on Equity Offering in the amount of £14.654696 million.Bushveld Minerals Limited has completed a Follow-on Equity Offering in the amount of £14.654696 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 486,038,755 Price\Range: £0.03 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 2,451,114 Price\Range: £0.03 Transaction Features: Subsequent Direct ListingNew Risk • Dec 14New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (323% average daily change). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€51.3m market cap, or US$55.8m).공시 • Dec 01Bushveld Minerals Limited has filed a Follow-on Equity Offering in the amount of £17.9 million.Bushveld Minerals Limited has filed a Follow-on Equity Offering in the amount of £17.9 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 530,000,000 Price\Range: £0.03 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 66,666,667 Price\Range: £0.03 Transaction Features: Subsequent Direct Listing공시 • Nov 30Bushveld Minerals Limited, Annual General Meeting, Dec 21, 2023Bushveld Minerals Limited, Annual General Meeting, Dec 21, 2023, at 10:00 Coordinated Universal Time.Breakeven Date Change • Nov 29Forecast breakeven date pushed back to 2025The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 58% per year to 2024. The company is expected to make a profit of US$5.01m in 2025. Average annual earnings growth of 71% is required to achieve expected profit on schedule.Board Change • Nov 22High number of new and inexperienced directorsThere are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non Executive Chairman & Senior Independent Non-Executive Director Michael Kirkwood is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.공시 • Nov 18Bushveld Minerals Limited Announces Executive ChangesThe board of Bushveld Minerals announced that Ms. Tanya Chikanza, finance director has on 16 November 2023 tendered her resignation in accordance with the provisions of her employment contract, which requires that she provide the company with 6 months' notice. The board further announced that the company is investigating Ms. Chikanza regarding alleged misconduct relating to failure to disclose a material conflict of interest. Given Ms. Chikanza's resignation, the company has suspended her from her contractual appointment with immediate effect, pending the outcome of an independent disciplinary process that will now follow. Ms. Janandre Lamprecht will assume the role of acting chief financial officer and the company will initiate a comprehensive search for a replacement Finance Director. Ms. Lamprecht is a Chartered Accountant who began her career at PricewaterhouseCoopers and has extensive experience in the mining industry having worked for listed international mining houses in multiple jurisdictions. Ms. Lamprecht has been with the Company since August 2022 and previously led the Group's financial accounting, reporting and tax functions.공시 • Nov 17Bushveld Minerals Limited Announces Resignation of Tanya Chikanza as Board MemberThe board of Bushveld Minerals announces that Ms. Tanya Chikanza, board member has on 16 November 2023 tendered her resignation in accordance with the provisions of her employment contract, which requires that she provide the company with 6 months' notice.Breakeven Date Change • Nov 06Forecast breakeven date moved forward to 2024The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$5.01m in 2024. Average annual earnings growth of 70% is required to achieve expected profit on schedule.Breakeven Date Change • Nov 01No longer forecast to breakevenThe 4 analysts covering Bushveld Minerals no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$13.2m in 2025. New consensus forecast suggests the company will make a loss of US$3.97m in 2025.공시 • Oct 31Bushveld Minerals Limited (AIM:BMN) signed an agreement to acquire remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited.Bushveld Minerals Limited (AIM:BMN) signed an agreement to acquire remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited on October 30, 2023.Reported Earnings • Oct 02First half 2023 earnings released: US$0.011 loss per share (vs US$0.003 loss in 1H 2022)First half 2023 results: US$0.011 loss per share (further deteriorated from US$0.003 loss in 1H 2022). Revenue: US$78.4m (up 2.9% from 1H 2022). Net loss: US$14.1m (loss widened 321% from 1H 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat.공시 • Sep 13Bushveld Minerals Limited announced that it has received $12.5 million in fundingBushveld Minerals Limited announced that it has raised $12.5 million in an equity round of funding on September 11, 2023. The transaction included participation from Southern Point Resources.Buying Opportunity • Sep 05Now 67% undervalued after recent price dropOver the last 90 days, the stock is down 66%. The fair value is estimated to be €0.032, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 1.3% in a year. Earnings is forecast to grow by 59% in the next year.Breakeven Date Change • Aug 14Forecast breakeven date moved forward to 2024The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 59% to 2023. The company is expected to make a profit of US$1.63m in 2024. Average annual earnings growth of 69% is required to achieve expected profit on schedule.Breakeven Date Change • Aug 11Forecast to breakeven in 2025The 3 analysts covering Bushveld Minerals expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$1.27m in 2025. Average annual earnings growth of 79% is required to achieve expected profit on schedule.Buying Opportunity • Jul 21Now 38% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be €0.049, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 98% in the next 2 years.공시 • Jun 27Bushveld Minerals Limited, Annual General Meeting, Aug 02, 2023Bushveld Minerals Limited, Annual General Meeting, Aug 02, 2023, at 11:00 Coordinated Universal Time. Location: Oak House, Hirzel Street, St Peter Port, Guernsey, GY1 3RH St Peter Port Guernsey Agenda: To receive and adopt the Annual Financial Statements of the Company and the Directors report and the report of the Auditors for the financial year ended 31 December 2022; To approve the Directors' fees as reflected in the Remuneration Report and in note 35 of the Annual Financial Statements; to consider Messrs RSM UK Audit LLP be reappointed as Auditors to the Company; to consider the Directors be authorised to approve the remuneration of the Company's Auditors; to consider Michael Kirkwood shall be re-elected as a Director, having retired by rotation and offered himself for re-election; and to consider other business matters.Breakeven Date Change • Jun 22Forecast to breakeven in 2025The 3 analysts covering Bushveld Minerals expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 79% per year to 2024. The company is expected to make a profit of US$7.31m in 2025. Average annual earnings growth of 75% is required to achieve expected profit on schedule.공시 • Jun 21+ 2 more updatesBushveld Minerals Limited to Report Fiscal Year 2022 Final Results on Jun 23, 2023Bushveld Minerals Limited announced that they will report fiscal year 2022 final results on Jun 23, 2023공시 • Jan 31Bushveld Minerals Limited Provides Production Guidance for the Year 2023Bushveld Minerals Limited provided production guidance for the year 2023. The company expects group production guidance of between 4,200 mtV and 4,500 mtV, with volumes weighted towards second half of 2023.공시 • Dec 16Bushveld Minerals Limited Announces Board ChangesBushveld Minerals Limited announces that Ms Jacqueline Musiitwa will stand down from the Company's Board effective immediately, having accepted a role with the U.S. Agency for International Development("USAID"). As part of her responsibility in taking up this public sector appointment, Ms Musiitwa is required to stand down from all her private sector roles, including as an Independent Non-Executive Director of Bushveld. Ms Musiitwa served as Chair of Bushveld Minerals' ESG Committee and as a member of the Remuneration Committee. David Noko has been appointed as Chair of the ESG Committee, no changes have been made to the Remuneration Committee. The Company will commence the search for a replacement Independent Non-Executive Director in due course.Reported Earnings • Sep 14First half 2022 earnings released: EPS: US$0 (vs US$0.015 loss in 1H 2021)First half 2022 results: EPS: US$0 (improved from US$0.015 loss in 1H 2021). Revenue: US$76.2m (up 224% from 1H 2021). Net loss: US$6.28m (loss narrowed 30% from 1H 2021). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 3.2% decline forecast for the Metals and Mining industry in Europe.공시 • Sep 13Bushveld Minerals Limited Provides Production Guidance for the Year 2022Bushveld Minerals Limited provided production guidance for the year 2022. For the year, the company adjusted production guidance downwards to between 3,900 mtV and 4,100 mtV.공시 • Aug 09Bushveld Minerals Limited Announces Director ChangesBushveld Minerals Limited announced Following 10 years' service as a Director, Mr. Ian Watson retired from the Board and as Chairman as of the AGM. Mr. Michael Kirkwood, Senior Independent Non-Executive Director, was elected by the Board to the Chairman role on an interim basis. As previously announced, a formal search is underway to identify a prospective Chairperson with the expectation that a suitable candidate will be ratified and inducted prior to the 2023 AGM.공시 • Jul 29Bushveld Minerals Limited Provides Production Guidance for the Year 2022Bushveld Minerals Limited provided production guidance for the year 2022. For the year, Group production guidance maintained, expected towards the lower end of between 4,200 mtV and 4,400 mtV. Group is on target to meet the annualised steady state production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a. by the end of 2022.공시 • Jul 13Bushveld Minerals Limited, Annual General Meeting, Aug 08, 2022Bushveld Minerals Limited, Annual General Meeting, Aug 08, 2022, at 10:00 Coordinated Universal Time. Location: at Oak House, Hirzel Street St Peter Port Guernsey United KingdomReported Earnings • Jul 02Full year 2021 earnings released: US$0.034 loss per share (vs US$0.031 loss in FY 2020)Full year 2021 results: US$0.034 loss per share (down from US$0.031 loss in FY 2020). Revenue: US$106.9m (up 19% from FY 2020). Net loss: US$40.8m (loss widened 11% from FY 2020). Over the next year, revenue is forecast to grow 52%, compared to a 34% growth forecast for the mining industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.공시 • Jun 23Bushveld Minerals Limited Announces Key Findings of Vametco and Vanchem StudiesBushveld Minerals Limited provided a summary of the key findings of thefeasibility and pre-feasibility studies (the "Studies") by METC South Africa Pty (Ltd) and MSA Group (Pty) Ltd. to assess the optimal path forward to grow production at Vametco and Vanchem to 8,000 mtVp.a. The Studies were undertaken to determine the next phase of the Company's growth plans beyond the sustainable production run rate of between 5,000-5,400 mtVp.a., which is expected to be achieved by the end of 2022. The studies highlight a significant opportunity to increase production byc.50% to 8,000mtVp.a. through the Company's existing operations. Requires growth capital expenditure of US$151 million (ZAR2.3 billion); Optimal staged expansion plan (based on highest to lowest IRR and NPV): Stage 1 - Vametco - Installation of a Semi-autogenous (SAG) Mill to establish a permanent and reliable supply of feedstock for both plants in advance of further capacity expansion. Stage 1 establishes a sustainable and reliable supply of concentrate feedstock (up to 6,800 mtV) for both plants in advance of further capacity expansion with the balance of ore, when required, being supplied through development of Mokopane, Brits or third party ore. The SAG Mill investment at Vametco will provide concentrate to enable Vanchem growth, whilst intermediate products (AMV, MVO) can also be shared between the plants. Stage 2 - Vanchem - Refurbishment of Kiln 2 to increase production at Vanchem to between 3,600 - 3,700 mtVp.a. (corresponding increase in Group production to between 6,000 - 6,500 mtVp.a.). Stage 3 - Vanchem - Refurbishment of Kiln 1 to increase production to between 4,600 - 4,700 mtVp.a. (corresponding increase in Group production to between 7,000 - 7,500 mtVp.a.). Stage 4 - Vametco - Increase single kiln capacity to 3,400 mtVp.a. (corresponding increase in Group production to between 7,600 - 8,000 mtVp.a.). The option to implement the expansion in stages substantially reduces Bushveld's upfront capital requirements and allows incremental production to be attained from each stage in order to generate additional cash flows, which can be leveraged for the next stage. Based on a R15.29 USD:ZAR exchange rate. The product diversification and the flexibility arising from the expansion allows for maximum market penetration. Management intent to pursue the staged expansion plans, subject to: The meeting of short-term performance targets to deliver sustainable cash generating production at the production rate of 5,000 - 5,400 mtVp.a.; and In a phased manner, with sufficient funding secured, accompanied by any necessary third-party validation of associated project economics. As a result of higher volumes and operational efficiencies, the Company has estimated that at full operational production of 8,000 mtVp.a., C1 costs per Kg/V produced at Vametco and Vanchem would fall by at least 20% at each operation, compared to 2021.Board Change • Jun 05High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director David Noko was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.공시 • May 27Bushveld Minerals Limited Announces Appointment of Independent Non-Executive DirectorBushveld Minerals Limited announced the appointment of David Noko as an independent non-executive director to the Board of Directors (the "Board"), concurrent with this appointment, the Company also announces the retirement of Anthony Viljoen from the Board. Anthony was a founding member of Bushveld Minerals and played an instrumental role in Bushveld Minerals' growth and transition from explorer to producer. Following this transformation in the business, Anthony focused on developing the Company's tin assets, which led to them being spun out of Bushveld with the listing of AfriTin Mining Limited ("AfriTin") on AIM in 2017. Anthony is the CEO of AfriTin and his retirement from the Bushveld Minerals Board comes at a time when AfriTin is rapidly developing its large-scale resources at the Uis Mine in Namibia. David is highly regarded in the South African and global business circles and has years of experience both as an executive and more recently as board member on several prominent companies, including, Royal Bafokeng Platinum Limited, Harmony Gold Mining Company Limited, AstraPak Pty Ltd. and Platistone Holdings (Pty) Ltd. He is currently a Non-Executive Director at inter alia African Rainbow Minerals and Tongaat Hulett, as well as being a Lead Advisor at his consultancy company, ESG Advisory Ltd. He is also the Chairman of the Council of the University of the Free State. David's appointment follows the appointments, announced on 17 March 2022, of three other non-executive directors, made to ensure that the Board's composition meets the high standards of corporate governance expected of London listed companies and reflect Bushveld Minerals' status as a significant primary producer of vanadium in South Africa.공시 • Apr 26+ 1 more updateBushveld Minerals Limited to Report Q1, 2022 Results on Apr 26, 2022Bushveld Minerals Limited announced that they will report Q1, 2022 results on Apr 26, 2022공시 • Jan 27Bushveld Minerals Limited Provides Production Guidance for the Year 2022Bushveld Minerals Limited provided production guidance for the year 2022. The company expects Group production guidance of between 4,200 mtV and 4,400 mtV.Reported Earnings • Sep 29First half 2021 earnings released: US$0.015 loss per share (vs US$0.01 loss in 1H 2020)The company reported a soft first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: US$47.0m (up 9.2% from 1H 2020). Net loss: US$17.9m (loss widened 66% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance.공시 • Apr 19Bushveld Minerals Limited Temporarily Stops Production At Its Vametco OperationBushveld Minerals Limited reports that an unprotected industrial action at its Vametco operation has temporarily stopped production with effect from the morning of 16 April 2021. It is understood that the unprotected industrial action is in relation to expectations of payments under the Employee Participation Plan ("EPP") at Vametco, however, the Company is yet to receive a formal notice from organised labour. The Company recently concluded an EPP with the recognised labour union. The Plan is designed to provide a framework whereby employees, excluding Senior Management, can share in the favourable performance of the Company. This is in addition to production related bonuses employees receive during the ordinary course of the year. The expectations for payments are not in keeping with the EPP recently signed. In keeping with the Company's active employee and stakeholder engagement policy, the Senior Management team has held a series of meetings with representatives of the recognised trade union at Vametco, the Association of Mineworkers and Construction Union ("AMCU"), during which it was agreed that all reasonable steps would be taken to urge employees to safely return to work. The Company continues to engage with representatives of AMCU to resolve the unprotected industrial action.Recent Insider Transactions • Feb 19Independent Non-Executive Chairman recently sold €214k worth of stockOn the 17th of February, Ian Watson sold around 1m shares on-market at roughly €0.19 per share. This was the largest sale by an insider in the last 3 months. This was Ian's only on-market trade for the last 12 months.Recent Insider Transactions • Feb 11Co-Founder recently sold €45k worth of stockOn the 5th of February, Fortune Mojapelo sold around 207k shares on-market at roughly €0.22 per share. This was the largest sale by an insider in the last 3 months. This was Fortune's only on-market trade for the last 12 months.공시 • Feb 04Bushveld Minerals Limited Provides an Updated Mineral Resources and Ore Reserves for the Vametco Vanadium Mine Near Brits on the Western Limb of the Bushveld ComplexBushveld Minerals Limited provide an updated Mineral Resources and Ore Reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex. Ore Reserves have been depleted after 12 months of mining by approximately two per cent from previous Ore Reserve estimate as at 31st December 2019. As at the 31st December 2020, Ore Reserves are reported at 267,200 tonnes V2O5 in magnetite at a grade of 2.02% V2O5 in magnetite (previously 274,100 tonnes V2O5 in magnetite). Combined Inferred and Indicated Mineral Resourceacross three Seams (The Lower, Intermediate and Upper Seams) reported as at the 31st December 2020 at 184.2 Mt at an average grade of 1.98 per cent V2O5 in magnetite, with an average magnetite content of 35.0 per cent in whole rock for 709.8 thousand tonnes of contained vanadium (previously 185.5 Mt at an average grade of 1.98% V2O5 in magnetite, with an average magnetite content of 35.0% in whole rock for 714.7 thousand tonnes of contained vanadium). Within this, the Ore Reserve in the Probable Category is reported as 46.4 Mt at an average grade of 2.02% V2O5 in magnetite, with an average magnetite content of 28.4% in whole rock for 149,700 tonnes of vanadium (previously 47.4Mt V2O5 in magnetite across the same three seams at an average grade of 2.02% V2O5 in magnetite, with an average magnetite content of 28.5% in whole rock for 156,300 tonnes of vanadium). The Lower Seam is the main ore seam and the thickest, ranging from 13.8 to 52.0 metres in thickness, comprising a Probable Reserve of 38.8 Mt at an average grade of 2.05% V2O5 in magnetite, with an average magnetite content of 29.3% in whole rock for 130,500 tonnes of vanadium. The decrease in the 2020 Mineral Resource, by 0.68% less tonnes than the 31st January 2019 estimate, is attributed to mining of the seams over the last 12 months. No Mineral Resource Exploration was carried out over the period. The decrease in the ore tonnages for the previous Ore Reserve estimate in December 31st 2019 from 47.4 Mt to 46.4 Mt in December 31st 2020 is due to the depletion of lower and Intermediate seams over the 12 month period based on the pit to plant reconciled production data from Vametco.공시 • Jan 12Bushveld Minerals Limited Announces the Demise of Ms. Dolly Mokgatle, Independent Non-Executive DirectorBushveld Minerals Limited announced the demise of Ms. Dolly Mokgatle, independent non-executive director of the Company.Is New 90 Day High Low • Dec 29New 90-day high: €0.22The company is up 106% from its price of €0.11 on 30 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 44% over the same period.Reported Earnings • Oct 01First half earnings releasedOver the last 12 months the company has reported total profits of US$29.7m, down 19% from the prior year. Total revenue was US$81.6m over the last 12 months, down 56% from the prior year.공시 • Oct 01Bushveld Minerals Limited announced that it expects to receive $35 million in funding from Orion Mine Finance and other investorsBushveld Minerals Limited (AIM:BMN) announced that it has entered into an investment agreement for a private placement of convertible loan notes for gross proceeds of $35 million in September 29, 2020. The transaction will include participation from new investor Orion Mine Finance who will subscribe for a minimum of $10 million, and a maximum of $20 million of convertible loan notes and other investors. The notes are issued at 10 % per annum coupon with a three year maturity date from the drawdown date. The conversion price will be the lesser of (i) 130 per cent of the volume weighted average closing price of a ordinary share for the 15 trading days leading to the date on which the drawdown notice is served; and (ii) 25p.이익 및 매출 성장 예측DB:23U - 애널리스트 향후 추정치 및 과거 재무 데이터 (USD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202711732126112/31/202610952126112/31/202599-13-60112/31/202491-56-34-2816/30/2024108-117-24-22N/A3/31/2024123-110-18-14N/A12/31/2023137-104-12-6N/A9/30/2023121-71-73N/A6/30/2023127-43-212N/A3/31/2023138-41016N/A12/31/2022148-39221N/A9/30/2022142-29-316N/A6/30/2022136-18-810N/A3/31/2022121-26-20-1N/A12/31/2021107-33-32-12N/A9/30/2021100-35-40-20N/A6/30/202194-38-48-28N/A3/31/202192-34-38-23N/A12/31/202090-31-28-17N/A9/30/2020860-23-13N/A6/30/20208230-19-9N/A3/31/20209946-210N/A12/31/2019117621428N/A9/30/2019151492943N/A6/30/2019186374558N/A3/31/2019189333952N/A12/31/2018192303245N/A6/30/20188712916N/A3/31/2018455N/A5N/A12/31/20173-1N/A-6N/A8/31/2017N/A-11N/A1N/A5/31/2017N/A-6N/A0N/A2/28/2017N/A-2N/A0N/A11/30/2016N/A-2N/A-2N/A8/31/2016N/A-1N/A-5N/A5/31/2016N/A-2N/A-4N/A2/29/2016N/A-2N/A-2N/A11/30/2015N/A-3N/A1N/A8/31/2015N/A-3N/A4N/A5/31/2015N/A-4N/A0N/A2/28/2015N/A-4N/A-5N/A11/30/2014N/A-3N/A-6N/A8/31/2014N/A-1N/A-7N/A5/31/2014N/A-1N/A-4N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 23U 은 향후 3년 동안 수익을 낼 것으로 예상되며, 이는 절약률(1.1%)보다 빠른 성장으로 간주됩니다.수익 vs 시장: 23U (는) 향후 3년 동안 평균 시장 성장보다 높은 수익을 올릴 것으로 예상됩니다.고성장 수익: 23U 향후 3년 내에 수익을 낼 것으로 예상됩니다.수익 대 시장: 23U 의 수익(연간 4.5%)이 German 시장(연간 6.8%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: 23U 의 수익(연간 4.5%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 23U의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YMaterials 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2025/02/15 22:48종가2024/11/18 00:00수익2024/06/30연간 수익2023/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Bushveld Minerals Limited는 8명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관null nullBMO Capital Markets Equity ResearchAlexander Robert PearceBMO Capital Markets Equity ResearchThomas MartinBNP Paribas5명의 분석가 더 보기
공시 • Dec 17Bushveld Minerals Limited Provides Update on Extended Plant Maintenance Shutdown At VametcoBushveld Minerals Limited informed by the Piers Marsden and Jenna Osborne of Matuson & Associates (Joint BRPs) that they have commenced an extended plant maintenance shutdown at Vametco, which will continue until end-March 2025. The shutdown aims to rebase the business to optimise the turnaround by fixing the critical parts of the business that will efficiently generate revenue and ensure future sustainability. This period will allow sufficient time to plan, procure, and install critical components for the maintenance and sustainable operation of the plant. Once the plant is back online, it is anticipated its reliability will be enhanced, and it will operate close to full capacity.
공시 • Jul 31Bushveld Minerals Limited Provides Production Guidance for the Year 2024Bushveld Minerals Limited provided production guidance for the year 2024. For the year, the Group production guidance will be between 3,800 mtV and 4,000 mtV.
Breakeven Date Change • Feb 01Forecast breakeven date moved forward to 2024The 2 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$10.9m in 2024. Average annual earnings growth of 63% is required to achieve expected profit on schedule.
Breakeven Date Change • Nov 29Forecast breakeven date pushed back to 2025The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 58% per year to 2024. The company is expected to make a profit of US$5.01m in 2025. Average annual earnings growth of 71% is required to achieve expected profit on schedule.
Breakeven Date Change • Nov 06Forecast breakeven date moved forward to 2024The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$5.01m in 2024. Average annual earnings growth of 70% is required to achieve expected profit on schedule.
Breakeven Date Change • Nov 01No longer forecast to breakevenThe 4 analysts covering Bushveld Minerals no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$13.2m in 2025. New consensus forecast suggests the company will make a loss of US$3.97m in 2025.
공시 • Dec 17Bushveld Minerals Limited Provides Update on Extended Plant Maintenance Shutdown At VametcoBushveld Minerals Limited informed by the Piers Marsden and Jenna Osborne of Matuson & Associates (Joint BRPs) that they have commenced an extended plant maintenance shutdown at Vametco, which will continue until end-March 2025. The shutdown aims to rebase the business to optimise the turnaround by fixing the critical parts of the business that will efficiently generate revenue and ensure future sustainability. This period will allow sufficient time to plan, procure, and install critical components for the maintenance and sustainable operation of the plant. Once the plant is back online, it is anticipated its reliability will be enhanced, and it will operate close to full capacity.
Buy Or Sell Opportunity • Nov 09Now 89% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.0046, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to decline by 3.9% in 2 years. Earnings are forecast to grow by 97% in the next 2 years.
New Risk • Oct 28New major risk - Market cap sizeThe company's market capitalization is less than US$10m. Market cap: €9.01m (US$9.74m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$24m free cash flow). Share price has been highly volatile over the past 3 months (475% average daily change). Negative equity (-US$39m). Shareholders have been substantially diluted in the past year (80% increase in shares outstanding). Market cap is less than US$10m (€9.01m market cap, or US$9.74m).
Buy Or Sell Opportunity • Oct 24Now 89% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.0044, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to decline by 3.9% in 2 years. Earnings are forecast to grow by 97% in the next 2 years.
공시 • Oct 18An undisclosed buyer completed the acquisition of Lemur Holding Limited from Bushveld Minerals Limited (AIM:BMN) for $100.An undisclosed buyer agreed to acquire Lemur Holding Limited from Bushveld Minerals Limited (AIM:BMN) on July 31, 2024. Bushveld Minerals received approval from the Development Bank of South Africa to dispose of Lemur Holdings Limited, including its $2.5 million debt. The disposal remains subject to certain outstanding conditions being met. An undisclosed buyer completed the acquisition of Lemur Holding Limited from Bushveld Minerals Limited (AIM:BMN) for $100 on October 18, 2024. As a result of the completion of the Disposal, Bushveld is no longer liable for the outstanding $2.5 million debt owed to DBSA. Richard Morrison, Charlie Bouverat, Grant Barker, Abigail Wayne of SP Angel Corporate Finance LLP acted as financial advisors to Bushveld Minerals Limited (AIM:BMN).
Buy Or Sell Opportunity • Oct 05Now 88% undervalued after recent price dropOver the last 90 days, the stock has fallen 91% to €0.0005. The fair value is estimated to be €0.004, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to decline by 3.9% in 2 years. Earnings are forecast to grow by 97% in the next 2 years.
New Risk • Sep 17New major risk - Negative shareholders equityThe company has negative equity. Total equity: -US$39m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$24m free cash flow). Share price has been highly volatile over the past 3 months (464% average daily change). Negative equity (-US$39m). Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€12.3m market cap, or US$13.7m).
Buy Or Sell Opportunity • Sep 11Now 85% undervalued after recent price dropOver the last 90 days, the stock has fallen 97% to €0.0005. The fair value is estimated to be €0.0033, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to decline by 28% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.
Buy Or Sell Opportunity • Aug 27Now 80% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.0025, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to decline by 28% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.
Buy Or Sell Opportunity • Aug 08Now 83% undervaluedThe stock has been flat over the last 90 days, currently trading at €0.0005. The fair value is estimated to be €0.003, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to decline by 28% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.
공시 • Jul 31Bushveld Minerals Limited Provides Production Guidance for the Year 2024Bushveld Minerals Limited provided production guidance for the year 2024. For the year, the Group production guidance will be between 3,800 mtV and 4,000 mtV.
공시 • Jul 13Bushveld Minerals Limited, Annual General Meeting, Aug 07, 2024Bushveld Minerals Limited, Annual General Meeting, Aug 07, 2024. Location: oak house, hirzel street, st peter port, gy1 3rh, Guernsey
Buy Or Sell Opportunity • Jul 01Now 92% undervalued after recent price dropOver the last 90 days, the stock has fallen 92% to €0.0005. The fair value is estimated to be €0.0063, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has declined by 32%.
Reported Earnings • Jul 01Full year 2023 earnings released: US$0.074 loss per share (vs US$0.031 loss in FY 2022)Full year 2023 results: US$0.074 loss per share (further deteriorated from US$0.031 loss in FY 2022). Revenue: US$137.5m (down 7.4% from FY 2022). Net loss: US$103.9m (loss widened 167% from FY 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe.
Buy Or Sell Opportunity • Jun 19Now 92% undervalued after recent price dropOver the last 90 days, the stock has fallen 91% to €0.0005. The fair value is estimated to be €0.0065, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.
Buy Or Sell Opportunity • May 25Now 91% undervalued after recent price dropOver the last 90 days, the stock has fallen 95% to €0.0005. The fair value is estimated to be €0.0054, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.
Buy Or Sell Opportunity • May 09Now 93% undervalued after recent price dropOver the last 90 days, the stock has fallen 93% to €0.0005. The fair value is estimated to be €0.007, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.
공시 • Apr 23Bushveld Minerals Limited Provides an Updated Mineral Resources and Ore Reserves for the Vametco Vanadium Mine Near Britishs on the Western Limb of the Bushveld ComplexBushveld Minerals Limited provided an updated Mineral Resources and Ore Reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex. The resources and reserve estimation was carried out by MSA Group Inc. in accordance with the terminology and definitions given in the JORC Code (2012). Key Highlights: The total Ore Reserves have increased by approximately 10% from the previous Ore Reserve estimate as at 31 December 2022. The Ore Reserves are reported as at the 31 December 2023 at 293,400 tonnes V2O5 in magnetite at a grade of 2.00% V2O5 (in magnetite). The combined Inferred and Indicated Mineral Resource comprises 3 Seams (The Lower, Intermediate and Upper Seams) and is reported as at the 31 December 2023 at 180.4 million tonnes (Mt) at an average grade of 1.98% V2O5 (in magnetite), with an average magnetite content of 35.0% (in whole rock) for 694.6 thousand tonnes of contained vanadium. The previously reported combined Inferred and Indicated Mineral Resource, as a 31 December 2022, was 181.5 Mt at an average grade of 1.98% V2O5 (in magnetite), with an average magnetite content of 35.0% (in whole rock) for 699.0 thousand tonnes of contained vanadium. Within this, the Ore Reserve in the Probable Category comprise 3 Seams (The Lower, Intermediate and Upper Seams) and is reported as 51.0 Mt at an average grade of 2.00% V2O5 (in magnetite), with an average magnetite content of 28.9% (in whole rock) for 164,300 tonnes of vanadium. The Lower Seam is the main ore seam and the thickest, ranging from 13.8 to 52.0 metres in thickness, comprising a Probable Reserve of 41.2 Mt at an average grade of 2.03% V2O5 (in magnetite), with an average magnetite content of 28.2% (in whole rock) for 132,200 tonnes of vanadium. The decrease in the total 2023 Mineral Resource, by 0.61% less tonnes than the 31 December 2022 estimate, is attributed to mining of the seams over the last 12 months. No Mineral Resource exploration was carried out over the period. The year-on-year depletion which was calculated to be 1.1 Mt, was offset by an increase in tonnage through improved definition of the existing pit design (1.7 Mt) and an adjustment to the modifying factors (4.1 Mt), resulting in an increase in the total Ore Reserves from 46.4 Mt to 51.0 Mt as at 31 December 2023. The Ore Reserve modifying factors (mining loss and dilution) were adjusted based on pit to plant reconciliation production data supplied by Bushveld Vametco Alloys (Pty). Ltd. This resulted in a significant increase in the Upper Seam ore tonnes from 36.2 Mt to 41.2 Mt.
New Risk • Apr 14New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (278% average daily change). Shareholders have been substantially diluted in the past year (69% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€29.2m market cap, or US$31.1m).
Buy Or Sell Opportunity • Apr 09Now 84% undervalued after recent price dropOver the last 90 days, the stock has fallen 96% to €0.0005. The fair value is estimated to be €0.0031, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.
Buy Or Sell Opportunity • Feb 16Now 83% undervalued after recent price dropOver the last 90 days, the stock has fallen 93% to €0.0005. The fair value is estimated to be €0.0029, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 7.9% in a year. Earnings are forecast to grow by 21% in the next year.
Breakeven Date Change • Feb 01Forecast breakeven date moved forward to 2024The 2 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$10.9m in 2024. Average annual earnings growth of 63% is required to achieve expected profit on schedule.
공시 • Jan 30Tanya Chikanza Announces Resignation of Finance Director of Bushveld Minerals LimitedBushveld Minerals Limited announced that as an update to the announcement on 16 November 2023, the Company has now completed its investigation in respect of the Finance Director, Tanya Chikanza's alleged failure to disclose a material conflict of interest. It has been established that Ms Chikanza made an oral disclosure to the previous CEO. Notwithstanding this oral disclosure she accepts that it was not in accordance with the Company's Conflict of Interest Policy and constitutes a breach of the policy. The Company has elected not to pursue the disciplinary process and the parties have agreed that Ms Chikanza's employment will end on 31 January 2024.
Buy Or Sell Opportunity • Jan 20Now 78% undervalued after recent price dropOver the last 90 days, the stock has fallen 74% to €0.0025. The fair value is estimated to be €0.011, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 5.2% in a year. Earnings are forecast to grow by 24% in the next year.
공시 • Dec 21Bushveld Minerals Limited (AIM:BMN) completed the acquisition of remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited.Bushveld Minerals Limited (AIM:BMN) signed an agreement to acquire remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited on October 30, 2023. Bushveld will issue 232.83 million shares along with payment of ZAR 18 million in cash to BVI 1833.Completion of the Transaction also secures fulfilment of a key condition precedent to the Orion Convertible Loan Note Refinancing agreement, announced on 27 November 2023.The Transaction is subject to South African Reserve Bank approval, which is expected to be received within 6 weeks. As on December 19, 2023, Bushveld Minerals has met all the necessary conditions and received final approval from the South African Reserve Bank. Completion of the Transaction will take place on the later of the fifth business day following SARB approval being granted or the Company publishing an announcement to confirm completion of the Company's debt restructuring transaction. Following completion of the Transaction, BVH will apply to the Minister of Mineral Resources and Energy to amend and update the BVH Mining Right to reflect the updated ownership structure. Richard Morrison, Charlie Bouverat, Grant Baker, Richard Parlons of SP Angel Corporate Finance LLP acted as financial advisors to Bushveld Minerals Limited (AIM:BMN). Bushveld Minerals Limited (AIM:BMN) completed the acquisition of remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited on December 19, 2023.
공시 • Dec 14Bushveld Minerals Limited has completed a Follow-on Equity Offering in the amount of £14.654696 million.Bushveld Minerals Limited has completed a Follow-on Equity Offering in the amount of £14.654696 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 486,038,755 Price\Range: £0.03 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 2,451,114 Price\Range: £0.03 Transaction Features: Subsequent Direct Listing
New Risk • Dec 14New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (323% average daily change). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€51.3m market cap, or US$55.8m).
공시 • Dec 01Bushveld Minerals Limited has filed a Follow-on Equity Offering in the amount of £17.9 million.Bushveld Minerals Limited has filed a Follow-on Equity Offering in the amount of £17.9 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 530,000,000 Price\Range: £0.03 Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 66,666,667 Price\Range: £0.03 Transaction Features: Subsequent Direct Listing
공시 • Nov 30Bushveld Minerals Limited, Annual General Meeting, Dec 21, 2023Bushveld Minerals Limited, Annual General Meeting, Dec 21, 2023, at 10:00 Coordinated Universal Time.
Breakeven Date Change • Nov 29Forecast breakeven date pushed back to 2025The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 58% per year to 2024. The company is expected to make a profit of US$5.01m in 2025. Average annual earnings growth of 71% is required to achieve expected profit on schedule.
Board Change • Nov 22High number of new and inexperienced directorsThere are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Non Executive Chairman & Senior Independent Non-Executive Director Michael Kirkwood is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.
공시 • Nov 18Bushveld Minerals Limited Announces Executive ChangesThe board of Bushveld Minerals announced that Ms. Tanya Chikanza, finance director has on 16 November 2023 tendered her resignation in accordance with the provisions of her employment contract, which requires that she provide the company with 6 months' notice. The board further announced that the company is investigating Ms. Chikanza regarding alleged misconduct relating to failure to disclose a material conflict of interest. Given Ms. Chikanza's resignation, the company has suspended her from her contractual appointment with immediate effect, pending the outcome of an independent disciplinary process that will now follow. Ms. Janandre Lamprecht will assume the role of acting chief financial officer and the company will initiate a comprehensive search for a replacement Finance Director. Ms. Lamprecht is a Chartered Accountant who began her career at PricewaterhouseCoopers and has extensive experience in the mining industry having worked for listed international mining houses in multiple jurisdictions. Ms. Lamprecht has been with the Company since August 2022 and previously led the Group's financial accounting, reporting and tax functions.
공시 • Nov 17Bushveld Minerals Limited Announces Resignation of Tanya Chikanza as Board MemberThe board of Bushveld Minerals announces that Ms. Tanya Chikanza, board member has on 16 November 2023 tendered her resignation in accordance with the provisions of her employment contract, which requires that she provide the company with 6 months' notice.
Breakeven Date Change • Nov 06Forecast breakeven date moved forward to 2024The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$5.01m in 2024. Average annual earnings growth of 70% is required to achieve expected profit on schedule.
Breakeven Date Change • Nov 01No longer forecast to breakevenThe 4 analysts covering Bushveld Minerals no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$13.2m in 2025. New consensus forecast suggests the company will make a loss of US$3.97m in 2025.
공시 • Oct 31Bushveld Minerals Limited (AIM:BMN) signed an agreement to acquire remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited.Bushveld Minerals Limited (AIM:BMN) signed an agreement to acquire remaining 26% stake in Vametco Vanadium Mine from Business Venture Investments 973 Proprietary Limited and Business Venture Investments No. 1833 Proprietary Limited on October 30, 2023.
Reported Earnings • Oct 02First half 2023 earnings released: US$0.011 loss per share (vs US$0.003 loss in 1H 2022)First half 2023 results: US$0.011 loss per share (further deteriorated from US$0.003 loss in 1H 2022). Revenue: US$78.4m (up 2.9% from 1H 2022). Net loss: US$14.1m (loss widened 321% from 1H 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat.
공시 • Sep 13Bushveld Minerals Limited announced that it has received $12.5 million in fundingBushveld Minerals Limited announced that it has raised $12.5 million in an equity round of funding on September 11, 2023. The transaction included participation from Southern Point Resources.
Buying Opportunity • Sep 05Now 67% undervalued after recent price dropOver the last 90 days, the stock is down 66%. The fair value is estimated to be €0.032, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 1.3% in a year. Earnings is forecast to grow by 59% in the next year.
Breakeven Date Change • Aug 14Forecast breakeven date moved forward to 2024The 4 analysts covering Bushveld Minerals previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 59% to 2023. The company is expected to make a profit of US$1.63m in 2024. Average annual earnings growth of 69% is required to achieve expected profit on schedule.
Breakeven Date Change • Aug 11Forecast to breakeven in 2025The 3 analysts covering Bushveld Minerals expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$1.27m in 2025. Average annual earnings growth of 79% is required to achieve expected profit on schedule.
Buying Opportunity • Jul 21Now 38% undervalued after recent price dropOver the last 90 days, the stock is down 13%. The fair value is estimated to be €0.049, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 98% in the next 2 years.
공시 • Jun 27Bushveld Minerals Limited, Annual General Meeting, Aug 02, 2023Bushveld Minerals Limited, Annual General Meeting, Aug 02, 2023, at 11:00 Coordinated Universal Time. Location: Oak House, Hirzel Street, St Peter Port, Guernsey, GY1 3RH St Peter Port Guernsey Agenda: To receive and adopt the Annual Financial Statements of the Company and the Directors report and the report of the Auditors for the financial year ended 31 December 2022; To approve the Directors' fees as reflected in the Remuneration Report and in note 35 of the Annual Financial Statements; to consider Messrs RSM UK Audit LLP be reappointed as Auditors to the Company; to consider the Directors be authorised to approve the remuneration of the Company's Auditors; to consider Michael Kirkwood shall be re-elected as a Director, having retired by rotation and offered himself for re-election; and to consider other business matters.
Breakeven Date Change • Jun 22Forecast to breakeven in 2025The 3 analysts covering Bushveld Minerals expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 79% per year to 2024. The company is expected to make a profit of US$7.31m in 2025. Average annual earnings growth of 75% is required to achieve expected profit on schedule.
공시 • Jun 21+ 2 more updatesBushveld Minerals Limited to Report Fiscal Year 2022 Final Results on Jun 23, 2023Bushveld Minerals Limited announced that they will report fiscal year 2022 final results on Jun 23, 2023
공시 • Jan 31Bushveld Minerals Limited Provides Production Guidance for the Year 2023Bushveld Minerals Limited provided production guidance for the year 2023. The company expects group production guidance of between 4,200 mtV and 4,500 mtV, with volumes weighted towards second half of 2023.
공시 • Dec 16Bushveld Minerals Limited Announces Board ChangesBushveld Minerals Limited announces that Ms Jacqueline Musiitwa will stand down from the Company's Board effective immediately, having accepted a role with the U.S. Agency for International Development("USAID"). As part of her responsibility in taking up this public sector appointment, Ms Musiitwa is required to stand down from all her private sector roles, including as an Independent Non-Executive Director of Bushveld. Ms Musiitwa served as Chair of Bushveld Minerals' ESG Committee and as a member of the Remuneration Committee. David Noko has been appointed as Chair of the ESG Committee, no changes have been made to the Remuneration Committee. The Company will commence the search for a replacement Independent Non-Executive Director in due course.
Reported Earnings • Sep 14First half 2022 earnings released: EPS: US$0 (vs US$0.015 loss in 1H 2021)First half 2022 results: EPS: US$0 (improved from US$0.015 loss in 1H 2021). Revenue: US$76.2m (up 224% from 1H 2021). Net loss: US$6.28m (loss narrowed 30% from 1H 2021). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 3.2% decline forecast for the Metals and Mining industry in Europe.
공시 • Sep 13Bushveld Minerals Limited Provides Production Guidance for the Year 2022Bushveld Minerals Limited provided production guidance for the year 2022. For the year, the company adjusted production guidance downwards to between 3,900 mtV and 4,100 mtV.
공시 • Aug 09Bushveld Minerals Limited Announces Director ChangesBushveld Minerals Limited announced Following 10 years' service as a Director, Mr. Ian Watson retired from the Board and as Chairman as of the AGM. Mr. Michael Kirkwood, Senior Independent Non-Executive Director, was elected by the Board to the Chairman role on an interim basis. As previously announced, a formal search is underway to identify a prospective Chairperson with the expectation that a suitable candidate will be ratified and inducted prior to the 2023 AGM.
공시 • Jul 29Bushveld Minerals Limited Provides Production Guidance for the Year 2022Bushveld Minerals Limited provided production guidance for the year 2022. For the year, Group production guidance maintained, expected towards the lower end of between 4,200 mtV and 4,400 mtV. Group is on target to meet the annualised steady state production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a. by the end of 2022.
공시 • Jul 13Bushveld Minerals Limited, Annual General Meeting, Aug 08, 2022Bushveld Minerals Limited, Annual General Meeting, Aug 08, 2022, at 10:00 Coordinated Universal Time. Location: at Oak House, Hirzel Street St Peter Port Guernsey United Kingdom
Reported Earnings • Jul 02Full year 2021 earnings released: US$0.034 loss per share (vs US$0.031 loss in FY 2020)Full year 2021 results: US$0.034 loss per share (down from US$0.031 loss in FY 2020). Revenue: US$106.9m (up 19% from FY 2020). Net loss: US$40.8m (loss widened 11% from FY 2020). Over the next year, revenue is forecast to grow 52%, compared to a 34% growth forecast for the mining industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance.
공시 • Jun 23Bushveld Minerals Limited Announces Key Findings of Vametco and Vanchem StudiesBushveld Minerals Limited provided a summary of the key findings of thefeasibility and pre-feasibility studies (the "Studies") by METC South Africa Pty (Ltd) and MSA Group (Pty) Ltd. to assess the optimal path forward to grow production at Vametco and Vanchem to 8,000 mtVp.a. The Studies were undertaken to determine the next phase of the Company's growth plans beyond the sustainable production run rate of between 5,000-5,400 mtVp.a., which is expected to be achieved by the end of 2022. The studies highlight a significant opportunity to increase production byc.50% to 8,000mtVp.a. through the Company's existing operations. Requires growth capital expenditure of US$151 million (ZAR2.3 billion); Optimal staged expansion plan (based on highest to lowest IRR and NPV): Stage 1 - Vametco - Installation of a Semi-autogenous (SAG) Mill to establish a permanent and reliable supply of feedstock for both plants in advance of further capacity expansion. Stage 1 establishes a sustainable and reliable supply of concentrate feedstock (up to 6,800 mtV) for both plants in advance of further capacity expansion with the balance of ore, when required, being supplied through development of Mokopane, Brits or third party ore. The SAG Mill investment at Vametco will provide concentrate to enable Vanchem growth, whilst intermediate products (AMV, MVO) can also be shared between the plants. Stage 2 - Vanchem - Refurbishment of Kiln 2 to increase production at Vanchem to between 3,600 - 3,700 mtVp.a. (corresponding increase in Group production to between 6,000 - 6,500 mtVp.a.). Stage 3 - Vanchem - Refurbishment of Kiln 1 to increase production to between 4,600 - 4,700 mtVp.a. (corresponding increase in Group production to between 7,000 - 7,500 mtVp.a.). Stage 4 - Vametco - Increase single kiln capacity to 3,400 mtVp.a. (corresponding increase in Group production to between 7,600 - 8,000 mtVp.a.). The option to implement the expansion in stages substantially reduces Bushveld's upfront capital requirements and allows incremental production to be attained from each stage in order to generate additional cash flows, which can be leveraged for the next stage. Based on a R15.29 USD:ZAR exchange rate. The product diversification and the flexibility arising from the expansion allows for maximum market penetration. Management intent to pursue the staged expansion plans, subject to: The meeting of short-term performance targets to deliver sustainable cash generating production at the production rate of 5,000 - 5,400 mtVp.a.; and In a phased manner, with sufficient funding secured, accompanied by any necessary third-party validation of associated project economics. As a result of higher volumes and operational efficiencies, the Company has estimated that at full operational production of 8,000 mtVp.a., C1 costs per Kg/V produced at Vametco and Vanchem would fall by at least 20% at each operation, compared to 2021.
Board Change • Jun 05High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director David Noko was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
공시 • May 27Bushveld Minerals Limited Announces Appointment of Independent Non-Executive DirectorBushveld Minerals Limited announced the appointment of David Noko as an independent non-executive director to the Board of Directors (the "Board"), concurrent with this appointment, the Company also announces the retirement of Anthony Viljoen from the Board. Anthony was a founding member of Bushveld Minerals and played an instrumental role in Bushveld Minerals' growth and transition from explorer to producer. Following this transformation in the business, Anthony focused on developing the Company's tin assets, which led to them being spun out of Bushveld with the listing of AfriTin Mining Limited ("AfriTin") on AIM in 2017. Anthony is the CEO of AfriTin and his retirement from the Bushveld Minerals Board comes at a time when AfriTin is rapidly developing its large-scale resources at the Uis Mine in Namibia. David is highly regarded in the South African and global business circles and has years of experience both as an executive and more recently as board member on several prominent companies, including, Royal Bafokeng Platinum Limited, Harmony Gold Mining Company Limited, AstraPak Pty Ltd. and Platistone Holdings (Pty) Ltd. He is currently a Non-Executive Director at inter alia African Rainbow Minerals and Tongaat Hulett, as well as being a Lead Advisor at his consultancy company, ESG Advisory Ltd. He is also the Chairman of the Council of the University of the Free State. David's appointment follows the appointments, announced on 17 March 2022, of three other non-executive directors, made to ensure that the Board's composition meets the high standards of corporate governance expected of London listed companies and reflect Bushveld Minerals' status as a significant primary producer of vanadium in South Africa.
공시 • Apr 26+ 1 more updateBushveld Minerals Limited to Report Q1, 2022 Results on Apr 26, 2022Bushveld Minerals Limited announced that they will report Q1, 2022 results on Apr 26, 2022
공시 • Jan 27Bushveld Minerals Limited Provides Production Guidance for the Year 2022Bushveld Minerals Limited provided production guidance for the year 2022. The company expects Group production guidance of between 4,200 mtV and 4,400 mtV.
Reported Earnings • Sep 29First half 2021 earnings released: US$0.015 loss per share (vs US$0.01 loss in 1H 2020)The company reported a soft first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: US$47.0m (up 9.2% from 1H 2020). Net loss: US$17.9m (loss widened 66% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance.
공시 • Apr 19Bushveld Minerals Limited Temporarily Stops Production At Its Vametco OperationBushveld Minerals Limited reports that an unprotected industrial action at its Vametco operation has temporarily stopped production with effect from the morning of 16 April 2021. It is understood that the unprotected industrial action is in relation to expectations of payments under the Employee Participation Plan ("EPP") at Vametco, however, the Company is yet to receive a formal notice from organised labour. The Company recently concluded an EPP with the recognised labour union. The Plan is designed to provide a framework whereby employees, excluding Senior Management, can share in the favourable performance of the Company. This is in addition to production related bonuses employees receive during the ordinary course of the year. The expectations for payments are not in keeping with the EPP recently signed. In keeping with the Company's active employee and stakeholder engagement policy, the Senior Management team has held a series of meetings with representatives of the recognised trade union at Vametco, the Association of Mineworkers and Construction Union ("AMCU"), during which it was agreed that all reasonable steps would be taken to urge employees to safely return to work. The Company continues to engage with representatives of AMCU to resolve the unprotected industrial action.
Recent Insider Transactions • Feb 19Independent Non-Executive Chairman recently sold €214k worth of stockOn the 17th of February, Ian Watson sold around 1m shares on-market at roughly €0.19 per share. This was the largest sale by an insider in the last 3 months. This was Ian's only on-market trade for the last 12 months.
Recent Insider Transactions • Feb 11Co-Founder recently sold €45k worth of stockOn the 5th of February, Fortune Mojapelo sold around 207k shares on-market at roughly €0.22 per share. This was the largest sale by an insider in the last 3 months. This was Fortune's only on-market trade for the last 12 months.
공시 • Feb 04Bushveld Minerals Limited Provides an Updated Mineral Resources and Ore Reserves for the Vametco Vanadium Mine Near Brits on the Western Limb of the Bushveld ComplexBushveld Minerals Limited provide an updated Mineral Resources and Ore Reserves for the Vametco vanadium mine near Brits on the Western Limb of the Bushveld Complex. Ore Reserves have been depleted after 12 months of mining by approximately two per cent from previous Ore Reserve estimate as at 31st December 2019. As at the 31st December 2020, Ore Reserves are reported at 267,200 tonnes V2O5 in magnetite at a grade of 2.02% V2O5 in magnetite (previously 274,100 tonnes V2O5 in magnetite). Combined Inferred and Indicated Mineral Resourceacross three Seams (The Lower, Intermediate and Upper Seams) reported as at the 31st December 2020 at 184.2 Mt at an average grade of 1.98 per cent V2O5 in magnetite, with an average magnetite content of 35.0 per cent in whole rock for 709.8 thousand tonnes of contained vanadium (previously 185.5 Mt at an average grade of 1.98% V2O5 in magnetite, with an average magnetite content of 35.0% in whole rock for 714.7 thousand tonnes of contained vanadium). Within this, the Ore Reserve in the Probable Category is reported as 46.4 Mt at an average grade of 2.02% V2O5 in magnetite, with an average magnetite content of 28.4% in whole rock for 149,700 tonnes of vanadium (previously 47.4Mt V2O5 in magnetite across the same three seams at an average grade of 2.02% V2O5 in magnetite, with an average magnetite content of 28.5% in whole rock for 156,300 tonnes of vanadium). The Lower Seam is the main ore seam and the thickest, ranging from 13.8 to 52.0 metres in thickness, comprising a Probable Reserve of 38.8 Mt at an average grade of 2.05% V2O5 in magnetite, with an average magnetite content of 29.3% in whole rock for 130,500 tonnes of vanadium. The decrease in the 2020 Mineral Resource, by 0.68% less tonnes than the 31st January 2019 estimate, is attributed to mining of the seams over the last 12 months. No Mineral Resource Exploration was carried out over the period. The decrease in the ore tonnages for the previous Ore Reserve estimate in December 31st 2019 from 47.4 Mt to 46.4 Mt in December 31st 2020 is due to the depletion of lower and Intermediate seams over the 12 month period based on the pit to plant reconciled production data from Vametco.
공시 • Jan 12Bushveld Minerals Limited Announces the Demise of Ms. Dolly Mokgatle, Independent Non-Executive DirectorBushveld Minerals Limited announced the demise of Ms. Dolly Mokgatle, independent non-executive director of the Company.
Is New 90 Day High Low • Dec 29New 90-day high: €0.22The company is up 106% from its price of €0.11 on 30 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 44% over the same period.
Reported Earnings • Oct 01First half earnings releasedOver the last 12 months the company has reported total profits of US$29.7m, down 19% from the prior year. Total revenue was US$81.6m over the last 12 months, down 56% from the prior year.
공시 • Oct 01Bushveld Minerals Limited announced that it expects to receive $35 million in funding from Orion Mine Finance and other investorsBushveld Minerals Limited (AIM:BMN) announced that it has entered into an investment agreement for a private placement of convertible loan notes for gross proceeds of $35 million in September 29, 2020. The transaction will include participation from new investor Orion Mine Finance who will subscribe for a minimum of $10 million, and a maximum of $20 million of convertible loan notes and other investors. The notes are issued at 10 % per annum coupon with a three year maturity date from the drawdown date. The conversion price will be the lesser of (i) 130 per cent of the volume weighted average closing price of a ordinary share for the 15 trading days leading to the date on which the drawdown notice is served; and (ii) 25p.