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Ordinarily I would expect directors to buy to show their commitment, but why should CC buy? He's clearing up FM's mess and there's nothing he can do at these vanadium prices other than asset strip the company. Why would anyone expect him to buy under those circumstances? If he saves BMN then implements a plan for growth that requires shareholder funding, I would expect him to back himself buy.
Fixed Protection 2016, and yes that's well done for stumbling across it yourself. There is definitely value in the peace of mind that comes with a guaranteed income for many. I'm still a long way off retirement but hopefully I can have at least some stock market success. My pension is invested in a large passively managed index tracker fund, but the ISA is my play money for AIM
Yep was happy with that. It came with a 10 year minimum payout in case for peg it and it now seems as if they are getting inflation under control although it will be a bit of a concern if labour get in which is looking likely
Did well to get 6.7% !
So you were 'always concerned' about lack of director shareholding Blueboy? and yet it didn't stop you 'investing'? and trading along the way? my what a brave fellow you are!!
and take your infantile footie chat onto a footie board.. which bit didn't you understand
Razor - my limit was 1,250k @25% so 312.5k. From memory it was called 2016 protection. Thinking about it no one advised me to do that it was just something I stumbled across fortunately. Then I was on holiday in Lanzarote and it coincided with Liz Truss spooking the markets and I converted the remaining pot into an annuity at approx 6.7% per annum. It’s not everyone’s cup of tea and not the most tax efficient way of withdrawing pension funds but I just love the certainty of that income stream each month. 56 now so will carry on working part time to top up and then call it a day at 60. Made a few poor investments on AIM but at least I got the pension right thank god.
Craig has bought (not much) and committed to a buy of 4 months salary 'when allowed' ... I agree and there are plenty of company's where directors buy all the time ....
It was a flag I wish I had paid a bit more attention too !
Blues ? .. who ?
I first invested in BMN in 2015 at 2.42p, I did my own research and to be honest I was impressed with Nick D's comments, I bought and sold all the way up to the 40p's so can't complain. Still have a modest holding. But do you know what .. I have always been concerned about the lack of director share holding and nothing changes.
If directors have no or little shareholding then to me they don't care and have no confidence in their employer (which is what they ultimately are).
Anyway....
I'm off to Bournemouth for a few days for the match, come on you blues !!
They only gave us a few tickets, blue boys lets show them who do care and we do care .... COYB !!
To be fair Goatman the fact your clown reference was to me completely went over my head, quite funny looking back so happy to let it stand!
And I'm in agreement with your comment about ISAs and SIPPs, generally there's no point going between an ISA and SIPP in my opinion, the money in an ISA is tax-free when withdrawn (for now, who knows what changes the cash-hungry governments of the future will bring in).
The main benefit of making a contribution from your own bank account into a SIPP is that personal contributions get tax relief, i.e you deposit £80 and £100 goes into your SIPP because the provider claims the relief from HMRC and adds it to the account. Currently you can withdraw 25% of a pension tax free, up to the limit of £268,275.
Money that goes from your bank account into an ISA has already been taxed before you got hold of it via your paycheck, but on the withdrawal side ISAs are better in my opinion. When my money is already in one of the tax-wrappers, i.e an ISA or a pension, that's good enough for me.
The idea is to get as much money out of the bank/general trading accounts and into ISAs and pensions which are both tax-efficient in various ways. Obviously this isn't advice, so people should do their own research, but it's good to have a basic understanding of the products
Fair play to you two boys for attending in person. I was down in Salisbury the previous weekend and pdub’s indomitable spirit, however misplaced, was in my mind
Razor I referred to you as a clown in an earlier post and I now need to apologise and correct that. You are clearly an open minded individual who recognises differences of opinion. That is a credit to you and a very rare commodity here and in many walks of life.
It was good to meet MIKINAMAN after all this time, shame about the circumstances :-( Also met GND for the first time , likewise good to put a face to a name, but unsurprisingly didn't get to talk very much. I'd also be interested to know if there were any other Bushwhackers there 'incognito'?
Gold, bitcoin, markets at an all time high but aim in the pits as usual
Well goatman can't argue with that, if it's one thing I hate in CEOs its big ego, one of the things that absolutely tanks any company. Look at Boeing lately.
Pdubs funeral was a true tribute to a very talented and dedicated man - we were even treated to a video of him playing one of his guitars with some great vocals thrown in !!!!
I also bumped into a fellow BMNer in the name of reteps, it was great to put a face to a name/avatar, have a chat and a beer - were there any more of 'us' that attended and remained 'anonymous' ????!
Once again, RIP Pdub, you are sorely missed and thank you for all of your posts here.
GLA
Hi All,
Have been away and missed GND's announcement of the funeral date. Regrettably would not have been able to attend, as was away with wife on anniversary trip, much as I would have wished to to pay my respects to a really sound guy who always played it straight. I may be down a bundle on my investment , but like GND will be holding on for the inevitable turnaround . But my fault, not Pdub's and so , having now caught up with the news I shall this evening , albeit belatedly , raise a glass to his memory and I look forward to the day when I shall raise my glass to him again when we will all be in profit. Floreat , Pdub!
And to get to profitability they are needing one more lot of financing, something that is currently being worked.
The management have talked confidently and openly about this which is in stark contrast to the usual hush hush prior to a placing but still, in this climate, it's unlikely many will jump in until that financing is over the line.
IES's SP is where it is because the company has yet to make a profit. Their plan suggests the pipeline out gives a net positive cash flow end of this year and into next
The V price is less important to a VRFB manufacturer as it is to a vanadium producer - take IES for example, vanadium accounts for 17% of the total cost of a vrfb according to their most recent data, although I believe as other costs come down and they scale that percentage will rise slightly.
It's a pity that this drop in V prices is not having a positive effect on the IES share price.
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.