The Bauba Group is a small scale mining company focused on the mining of chrome ore and exploration of platinum assets. The group’s high-quality platinum group metals (Bauba Platinum) project is focused on the Eastern Limb of the Bushveld Igneous Complex in Limpopo, where it holds prospecting rights over eight properties covering approximately 14 000 hectares.
Bauba has also managed to buy beneficial rights to mine the farms Moeijelyk and Waterkop for chrome. The Bauba Chrome-Ore Operation is a youthful, cash-positive project which exploits near-surface chrome resources delivering ore for sale to ASA Metals. Cash from this project is mainly used to progress the Bauba Platinum Project. The chrome project was implemented after conditions for raising capital for deep-level PGM exploration projects deteriorated.
Bauba shares have been available to buy on the Johannesburg Stock Exchange (JSE) since 2010, but Bauba share price has plunged.
Bauba Shares Growth Driver
The Bauba Platinum Project has hit a brick wall after the prolonged weakness of platinum group metal prices. Prospecting rights for the farms expired in July 2015 and the group has applied for retention permits that will allow it to suspend exploration for three years while holding onto the properties.
Meanwhile, the Bauba Chrome-Ore Operation is seeking to generate the cash needed to advance exploration on the platinum properties. The group has applied for a mining license for its Moijelijk operation, which it is hoping to secure in 2016. In 2015, Bauba generated R40.9 million by selling run-of-mine chromite ore to ASA Metals, making an after-tax profit of R6.3 million, compared to a loss of R12.4 million in 2014.
The group hopes to get 20 year mining rights which will allow it to buy into underground and opencast mining to generate cash. The lifespan of the chrome opencast chrome operation is forecast to be five to six years, with the potential of approximately 1.3 million tonnes of chrome ore to be extracted. A further 8 million tonnes could potentially be mined via a shallow underground operation.
Bauba Group Investor Tip
Both chrome and platinum prices have fallen drastically in recent times, to the detriment of Bauba share price. Platinum exploration companies are struggling to secure the finances and mining rights needed to mine platinum group metals.
The live online stocks chart shows that Bauba share price has plunged to 30 cents per share, less than a tenth of what it was when the company first listed.
There were changes to Bauba’s board of directors in 2016, but the new board will need to work wonders if Bauba is to get things off the ground in the current market and restore confidence to buy the shares. Currently, the purchase of Bauba shares is only an option for the most adventurous investors.
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Start by Filling in the BUY THIS SHARE form.
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