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Sad to see Fortune still being regurgitated… time surely to move on. Tidy up the finances and hope for a rise in V prices needs to be our concern now moving forward
Its a coiled spring @Somtam ... still !
https://capital10x.com/the-vanadium-market-is-coiled-like-a-spring/
What global squeeze @Somtam .... I will believe the next spike should it actually happen... even a modest retrace to mid 30's would be good right now !
It's a bit of a myth to say Fortune focused on everything but the core activities, this is only said because of how much he failed. At the time of the big $65m finance package in late 2020 BMN were producing 3650mtV a year and the vast majority of those proceeds were directed at Vametco and Vanchem for upgrades, repairs and expansion - targeting a production level of 6800mtV.
40 months on and production has yet to reach 4000mtV in any year.
Somtam,
You forgot the BOD, Fortune and Mikhail. we are where we are because they richly remunerated themselves, gambled and concentrated on everything else except the core activities. Fortune was a lousy CEO with no experience in running plants and Mikhail was a leech.
I expect to see Vanadium prices to spike to over $100/KgV again, once Glencore realise there is a global squeeze on. If this comes to fruition with no new supply coming on board any time soon with VRFB garnering a greater percentage of the market than present today I fully expect the s.p to reach heights substantially north of 20p, especially as C.C has mentioned the possibility of a dividend towards the end of 2025 becoming a realty.
I just wish that after all these years on the London AIM they would realise how rigged the market is, and how easy the share price can be completely manipulated by traders,shorters,market makers for their gain. It makes investing for the long term in genuinely good Company's like BMN a real test of nerve for private individuals, and still believe that a move to a more regulated main market should be taken as priority once our present funding issues have been rectified.
Halespur - you transferred from an ISA to a SIPP for tax reasons - that seems somewhat ar$e about face.
Having a beer for Paul - enjoyed the 5 year ride with him and also the hope of recovery he gave us but this is AIM.
Sold my ISA holding to transfer to SIPP for tax reasons. over 90% down and feel like putting the few k in funds or a different gamble if we don't get the money from SPR. I have time at least to decide now as the money still isn't into the bank.have a smaller holding in my SIPP which will remain for 15 years, but a lesson learnt that gambling on AIM is not worth it for building your portfolio.
If they can nail the finance situation it should stabilise
Nope, zero, Nada ... but hold em and add time + hopium.
Can anyone foresee any positive catalysts in the short to medium term?
30% of all CEOs were previously qualified accountants and that the core reasons given were :
1) Commercial intelligence
2) Risk Management
3) Analytical skills
4) Less Egotistical mindset
I'm not paying to read that, what does it say in summary?
And some 🤡 disputed this
https://www.ft.com/content/fb4a8289-f8df-44d3-b6f0-48d476e775c2
Lamps need to call you out for double standards as you asked Eco for some reasoning - same question what’s the reasoning for the surge in V prices you mention and why do you think they are currently so low and what timeframe do you have in mind.
Also Faramog you need to take a look in the mirror mate. Raising a glass to Pdub when you were actually quite rude to him in recent times despite the terrible suffering he must have endured - thought u were better than that tbh.
I shall raise a glass to pdub who I am 100% certain enjoyed are combative exchanges. A large glass on Bushmills would seem appropriate.
RIP Pdub you legend
I will also be raising a glass to Paul today at 2pm best wishes to his family.
Pdub may have been an optimist, but his views were always supported by facts and sound reasoning.. Sure gonna miss that. And faramog is right, many of us are hanging on for the inevitable V price surge, which can’t come soon enough. Sellers need to pay attention to catch the wave when it comes.
Never engaged in conversation with Pdub. Always thought I would get ripped for ass paper if I did lol. My condolences to his partner and family. All the best where ever your travels take you Paul
Eco, you are entitled to an opinion but at least back it up with some reasoning. Takeover by, whom, how ….. why?
I too will be raising a glass @GND
As for sentiment, can't see any T/O - that could have happened several times in the past and did not. There is an expectation of another Vanadium Spike (eventually). Just consider that if it went for a sustained period to $50+ (not inconceivable and well within the sweet spots for steel and other industries), with Barren dam and other improvements BMN makes 5,000 mtv+ and that would be an EBITDA of circa $100m.... at a low PE of 5, that is $500m.. that is an SP target circa 20p
Craig made clear this was a tough year, but that with the funding in place (an it is bar the small Acacia $3.5m, then the costs were met, Capex in place and the company would survive to make the improvements. A lot I guess will hang on the Q1 (not so much results), but business statement and forward view in April
Plenty of doom sayers, but actually, the corner has been turned. No one puts millions in to see it lost or swallowed up in a receivership process
I will raise a glass to you and Paul this evening from my hideout in France. RIP Paul.
GND: easy for me to say but do not let sentiment get in the way of trading BMN when the time comes. I can never see them making you a fortune and the way the coin is falling, I am sad to say that the odds favour a cheap t/o. But only my opinion. I wish you much luck.
Eco
Well Largo's results were better than I expected:
They went from $39.5m cash, $65m debt at the end of Sept to $42.7m cash and $75m debt end of year. Jan and Feb have produced just 858t v205 total, equivalent to 463mtV which is very low, even factoring in maintenance.
V price is now lower than it averaged in Q4 so that loss will increase this quarter but they survive twelve months if they want just drawing on a bit more debt and holding back on capex spending at Marachas.
Not sure $105m mcap is justified for a $10m+ a quarter loss making vanadium company with life of mine issues and ever falling production numbers but it looks like they won't be halting production anytime soon.
LawrenceH a true bushy đź”” end
Sorry, I've just given my roots away (a scally from the back streets) but I do learn something every day..
HMHG......hear..hear
No, the conference call is tomorrow at 1pm ET, the financial results are tonight after US market closes.