Bushveld Minerals

Website: www.bushveldminerals.com
Primary ticker: AIM:BMN
Stage of development: Production
Primary minerals: Vanadium
Project to promote: Bushveld Vanadium and Bushveld Energy

Live financials

Bushveld Minerals is an integrated primary vanadium producer, with ownership
of high-grade vanadium assets. The Company currently supplies approximately 3,000 mtV which represents 3% of the global vanadium market, with plans to increase production to 10,000 mtV in the medium term.
Bushveld’s vision is to grow into one of the world’s most significant, lowest cost and vertically integrated companies comprising of low cost primary vanadium production, electrolyte manufacturing, development and deployment of VRFB in the energy markets.

SPANGEL November Report Alternative Resource Capital Report

Management Profile

Fortune Mojapelo – Founder and CEO

Fortune Mojapelo
Founder and Chief Executive Officer Bushveld Minerals, since March 2012
Fortune is a mining entrepreneur and founding shareholder of VM Investment Company (Proprietary) Ltd, a principal investments and advisory company focusing on mining projects in Africa. He has played a leading role in the origination, establishment and project development of several junior mining companies in Africa. Fortune graduated from the University of Cape Town with a BSc (Actuarial Science). He was previously at McKinsey & Company where he worked as a strategy consultant on corporate strategy and organisational development in several sectors in South Africa and Nigeria.

Mikhail Nikomarov – Co-founder and Chief Executive Officer

Mikhail Nikomarov
Co-founder and Chief Executive Officer of Bushveld Energy, since March 2015,
Chairman of the South Africa Energy Storage Association (SAESA)
Chair of the Energy Storage Committee of Vanitec, the global non-profit association of vanadium producers
Previously worked for McKinsey & Company in Russia and across Africa, focusing on the power sector (strategy and plant operations) and economic development. Mikhail’s corporate career started as a commercial banker in the USA.

What is your rationale for attending 121 Mining Investment?

Bushveld Minerals’ objectives for attending the 121 Mining Investment conference are: 1) to increase awareness of the company in the market particularly within the institutional investors 2) introduce more institutional shareholders to the company’s register which would bring an ideal balance.
The Company is a significant producer in the global vanadium market with a current market share of approximately 3% set to increase to over 10% in the medium term. As the Company continues to grow its vanadium production and execute its Bushveld Energy strategy, while reducing its cost, Bushveld is set to be in an even stronger cash position, which is expected to reflect in the stock performance.

What recent news would you like to highlight to investors attending?

Bushveld Minerals completed the acquisition of Sojitz’s interest, increasing the Company’s effective interest in Vametco to 74.0%
Bushveld Minerals completed the first phase of exploration programme at Brits, which has indicated a vanadium in-magnetite g

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Outline a capital allocation framework and dividend policy Deliver the first VRFB project with Eskom in CY18 Design and implement a vanadium electrolyte rental product

6 Months:

List on the Johannesburg Stock Exchange in the near term Grow the VRFB project pipeline across Africa Supply electrolytes to downstream stakeholders in the vanadium battery supply chain, to secure interest in electrolyte offtake globally Develop an electr

12 Months:

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The main key risk facing the company is the volatility of the vanadium price. Despite the strong YTD performance of the vanadium price, which has risen by more than 400% in the past 24 months, Bushveld Minerals gives great importance to both mid and low p

In a sentence, what do you think makes your company such a compelling investment?

Bushveld Minerals Limited is a significant, low cost, integrated primary vanadium producer through its owned high-grade assets; run by a dedicated team with a proven track record in mineral project development. The strategy is to increase vanadium market share by over 10% in the medium term by continuing to target brownfield processing infrastructure to complement our substantial resource base. The company’s strategy is based on four key pillars: (a) choosing commodities with a positive market outlook; (b) developing assets with a low cost curve positioning; (c) executing a clear realisable path to production and, thus, cash flows and (d) ensuring scalability.