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@Pdub.... We do not disagree.... The phrase you use is 'beyond control'... Correct. I get the impression you felt I was in someway critical if FM and the delays.. My critique of FM is perhaps as other point out, Comms is a bit hit & miss, but not of the delays out if control
All any BOD can do is publish what they see as a reasonable timeframe. For them to then say 'add a year or two because of politicians' may be true but is unnecesarily rude and disrespectful of elected prople
We don't disagree and if you felt I was being critical of FM, I apologise
(Continued)
And those projects haven’t gone away and the benefits will accrue.
Finally Eskom. Way beyond BMN control but Fortune is a shrewd political man and I see plenty of evidence of him protecting his relationship with the Government and Government organisations. In the long run this is good news for shareholders. But that is nit the end of it. Rather than sit and wait FM and MN chose to be proactive and drive VRFBs and their links in other global markets forward. They are not going to be totally dependent on Eskom, and this is mire good news for shareholders.
What we have at BMB is great leadership and a very exciting business plan that they are pursuing and delivering both with determination and flexibility. I like what I see and trust them to get on with it.
Patience patience patience. That’s what I said in 2016 ... just before the BOOM years of 2017 and 2018 for BMN shareholders. So .... I leave you with my final thought for today ..... Patience Patience Patience .... and then ...... ok got to say it .... BOOM
Just my opinion as always.
Correction “ BMN will emerge strongly ....’
Faramog I understand what you are saying about Africa time and delay, but it’s a point of view without perspective and context and therefore in my opinion flawed.
The issues you discuss have all been affected by factors either beyond BMNs control or by new opportunities that BMN chose to re-prioritise .... and correctly in my opinion. Let me explain.
Mokopane ... remember this is where the Vanadium story began with the announcement of the project to the market on 27.11.2013. A long time ago yes. However beyond Bushveld control was the ridiculous delay to issuing that licence. I assume that the corruption in the mining office of that region and Fortune’s unwillingness to go down that road (thankfully !!!) caused the delay. He cannot be blamed for that!
So why not vigorously pursue the development of Mokopane now? Changed priorities... simple. BMN correctly chose to search out existing plant on brown field sites and came up with the excellent deal to acquire Vametco at a small fraction of the cost of building new plant at Mokopane and becoming a producer in a fraction of the time, and we now know those initial profits from high V prices were used to develop the business. Our BoD are great at responding to changing opportunities and new priorities. It is not a weakness ... it is one of their greatest strategic strengths!
So what about JSE? Well another priority changed with the opportunity to acquire Vanchem. This was explained in the Final Results. I think anyone who knows anything about this company would agree that acquiring a SECOND plant on a brown field site was more important to the business than listing JSE at that moment in time. Excellent flexibility on the part of the BoD. However we also know that they are working towards JSE later this year or next now that Vanchem is done. They have told us as much already!
Then there have been two other events of significance and completely beyond the control of BMN but their responses to changing circumstances has been excellent in my opinion. The first ...Falling V prices in 2019 inevitably hit margins and the decision not to pay a dividend was correct, given the investment demands at the time. And worth repeating that at no time did they give a specific commitment to a dividend payment ... only to establishing a dividend policy, which they delivered.
The second event was Covid19. Most certainly beyond the company’s control but what a magnificent response. Even during shutdown sales appear to have happened using stock. Then maintenance shutdown brought forward to take advantage and avoid another closure later in the year. Now of course back up to full production as I understand it. Then the stated policy of protecting cash. Under the circumstances exactly the right thing to do. Once again responding correctly to changing conditions. A real strength of the BoD. Yes some projects may be delayed .... but BMB will emerge strongly while others collapse. (To be continued)
Good evening Bushies. I'm an uber positive person by nature and I do struggle with research but I think that so many of you are missing something here (willing to be corrected here though)
I truly believe that this share could easily be in the region of £10.00 a share in 3-5 years time.
My reason being that I believe completion of the Dailan plant in the middle of a big city will truly wake the world up the possibility of safe storage thus bringing in numerous energy projects globally
Add to that our electrolyte plant completion then you have the perfect storm.
Then the increase in the base cost of vanadium due to accessibility/shortage due to greater demand as all countries attempt to build their way as a means of recovering from coronavirus where BMN can both determine and set the pricing for selling into the markets at our sweet spot.
Also those that haven't heard of flow batteries and are presently purchasing lithium storage which will either burn to the ground or degrade substantially over the next few years and the news of this will spread across the energy/renewable storage world so in a few years time lithium batteries will be unsellable (dunno if thats a real word!!!)
Just my 2p worth
GLA
I agree .. slowed to meet the Eskom timing. Remember, originally it was to be fully operational in Dec 2019... but the planners forgot 'Africa-time'
As for Mokopane... all that bull, fluster and noise .. for what ? The licence has made zero difference so far and anything meaningful is a couple of years away (unless some form of off-cut arrangement turns up).
I love the company, the story, but really when I see an announcement, I sort of mentally add a year and then a few months for my granny now ! ... all gonna happen .. just slowly ! As for JSE... that is about the African two-step of back scratching. Anyone seriously think it will make a jot of difference to the SP I would love the detailed reasoning
Haha, I sold GGP right after the crash at 0.5p! Hindsight is a beautiful thing but I've learnt my lesson. I believe all will be (more than) well in BMN-land
thanks Enrico,
I felt the electrolyte plant was slowed up well before covid hit to be honest and I am still puzzled by the size they are starting with. Either way I think klong term the prospects are great but we have been slowed down I am convinced.
I am not in GGP, CAI on ASX, was in GGP having 2million at 2p, sold out after the crash down to 0.50p once it recovered and got my money back. If I had held then my life would be very different now haha, and I would have a bunch more BMN shares... Funny how I have done the same here... not selling this time :) gl
Bassguy,
I agree that things will move very slowly (but still upwards) here over the next few months, unless some unexpected piece of news drops in the meantime. I don't see the delay to the Mokopane and electrolyte plant work as anything negative or unusual given the current situation across the world. Bushveld has weathered the Covid crisis very well so far, and it will be reflected in the share price over time.
I know that it's easier to be patient when having an average around 14p rather than 30-45p but even those who bought at 45p will see good gains at some point. If you bring your average down using the gains from that goldie (which I strongly suspect is GGP), you'll do fantastically well.
My plan is very similar to yours, although my current gains from GGP are much lower than yours. I have just over 35000 BMN shares at the moment but would like to increase that to 100000 shares by the end of the year. I believe that the share price will reach at least one pound in the long term, and 100k pounds would be life-changing for my family.
All the best
EP
by the way I am claiming credit for the increase in the ask after posting the below :)
Right I have had a good think and am changing my game plan.
I REALLY expected things to have moved on 're BE much more by now but as I understand it the electrolyte plant have been pushed back to next year and now Mokopane as well, suggesting they really don't see any demand just yet, this along with no news thus far says to me things are running much slower than has been expected, after all they have been talking the talk for long enough with what, a few hundred kgs of electrolyte rented to Avalon. There may be loads of news in the pipe but they are keeping schtum saving for JSE(makes me mad but such is life).
No response to current valuation so must be happy for now...?
I have a Goldie which is presently sitting £25k to the positive and looks like going much further so Mr MM please keep the sp in this range gents and in a couple of months maybe 5 or 6 I will liquidate my Goldie and poor (geddit...) into BMN probably trebling my holding. Hopefully we will be in a better situation by then.
We cannot change the current situation so I am changing my mindset with a new plan.
Unfortunately the new house will have to wait as that is where BMN will go when I do sell (unless we get a sniff of divis and a firm idea on future revenues), I did not expect to be 50% down after two years to be honest but c'est la vie
Gla