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@faramog - 19:29 post
Very succinct, measured and well thought out post.
Recommend from me fwiw.
As for Fortune,he shot his bolt when he gave in to wage demands for the vanchem workers and didnt tie it to productivity, I had all the little biatches on here telling me otherwise at the time.
Aim wolf
China built housing and created debt bubbles, it has built the cities and left the economy in a fragile state of being over reliant on its export markets.
To get out of this mess they will next build infrastructure and shipping
This will take rebar and will build batteries.
The workers on these projects can then be fed by their local economies and importantly the collective can be locally and centrally taxed to control inflation.
The USA should be doing the same but they are brain dead and giving away their last chance unless they can export hyperinflation into the brics and somehow avoid it themselves ( they cant and they wont)
Pdub is Fortune in disguise. Never seen so much love. And before I am slaughtered by the newbies sucked in by the geography teacher, I questioned the FM management skills over 3 years ago , only to be met by a fuming Geography teacher , telling me how wrong I was and FM was the only person to lead . If I remember correctly the price was around 15 pence. All Hail PDUB.
Yeah exactly. Costs need to come down so that BMN can weather any drop in V prices like we’re seeing now and make hay when they reach $45/kgV and beyond. Instead what we’ve been seeing is break even at the best times and haemorrhaging cash during a commodity downturn.
I certainly sounds like Craig will get a grip on the operations and if the exchange rate continues to play to our favour then close to $30/kgV seems a distinct possibility.
One thing that is uber positive is the ability to increase sales to the US even further - we know US V remains considerably elevated vis a vis Europe and the ROW and in H1 the percentage of sales increased to 49%.
"presided over a managed decline"?! He managed the decline. We are now finally getting the curtained pulled out on BMN's true state.
There is absolutely no defense for Fortune concerning the last 4 years of management (before that it's a diff story).
Let's stope this charade!
“ what I said is surely what any intelligent investor wants to know. What are the final settlements for each of those issues. ” that is my position.
Questions like what happens to the VRFB-H stake and what will be the Orion issue price and therefore SPR issue price?
Much to be resolved as I said previously.
FM had to prove himself to me to gain my support for the concept of vertical integration.
Similarly Craig will have to prove himself. I will judge on evidence.
The V price has gotta rise from here .. China going mad for VFB's .. the Yanks moving up a gear .. military spending throughout the planet about to go into overdrive (the military uses shedloads of vanadium in it's hardware) .. also colossal amounts of steel needed to rebuild after weather events/earthquakes,, and rebuilding many cities after the war is over .. even in Russia, about 10 or more building getting flattened or burnt down by partisans every single day ... Russia will have to build it's entire huge military from scratch again, including ships and subs ... There is one scenario I fear from the war tho! .. if Putin gets pushed too far back into Russia, and becomes desperate, I think he'll use a tactical nuke/battlefield nuke (basically an atom bomb) then we are in a whole new ball game !! ... Sorry to be so cheerful and end on such a positive note :) ........ GLA
Yup @uksteveg .. $45/$55 was the range FM & MN had long ago identified as the 'sweet spot' that was acceptable to steel and electrolyte manufacturers .... if CC manages to get the AI costs down close to $30, then a very very profitable business
AlexS never underestimate the Hatters - we will defo stay up. How we didn’t beat Wolves on Saturday I’ll never know - totally played them off the park COYH
Not picking a fight Pdub .. your comment rather ignored the precarious place FM left the scene and just how much and how fast CC has fixed some things and put others in fix... to rather suggest 'the jury is out' rather misses he has achieved more operationally in 3 months than FM has (arguably) achieved in 3 years.
I have said before I don't wish ill on FM, but it was my view last year he should have gone (as was it others) and it seems to be a mixture of the cliff edge approaching and the Chairman woke up and/or Orion saying his departure was a requirements. It is very easy to chuck rocks and yes he achieved much, but from an investor view has rather presided over a managed decline of shareholder value.
We repeatedly berated and called him out on clarity and comms. 18 months ago I was sent some detail on the strategic comms plan of which nothing happened.
In the end, the market lost faith and could not see him being a winner (Its a tough world in the big chair but he was well paid for it). As for Craig, everything I have read about the man seems to be right given his actions, delegation and clarity of thought... he smells like a winner and above everything, SPR & Orion will have wanted to see & feel that. We don't know for sure, but seems very probably that SPR was brought in by CC.
As for the deal details, I thought the RNS's gave the substantive parts we needed to know ?
Lets leave FM v CC to the filtered trolls. I frankly am only interested in the future
Once the football talk starts.. you know you're in the gutter..
Take it somewhere else
There is more chance of BMN hitting £1 this year than Luton staying up I'm afraid. The gap is too big.
Unless J8mmy S is in the Hells Angels, then ull pay him £2k lol.
HMHG - wow a Luton fan ? I honestly hope you stay up, and really looking forward to our trip to the "Keni" in May - always remember how Degsy and Sheeds gave me great joy, 13 April 85....
This does still need the price of vanadium to go up and stay up over a sustained period. Ideally a move to around $45/$50 and stay in that range. We do not want to be in a position where the price stays where it is because in about 12 months time, we are back in the same position. It needs to happen in the geographical areas that we supply to. It’s also needs to start happening as soon as possible
Great post Faramog!
PDUB time to get off your high horse.
Erm faramog what I said is surely what any intelligent investor wants to know. What are the final settlements for each of those issues.
If you are yet another that wishes to pursue the FM vs Craig line that is fine with me.
As I have said before I am forward looking but that involves needing the details of those deals. Big test for Craig? Of course. Didn’t say it would be easy.
@Pdub "I have also said that I am waiting for resolution of Orion, SPR, MUST and BE before judging Craig’s performance"
Erm..... "Going Concern is dependent on the Orion deal" was what was said - I read that as 'no deal - bust !'.... what rather seems clear is that resolution could not realistically have occurred under FM - I am much impressed by what CC has achieved in 3 months. A whole raft of fairly basic things really with clearly site visits and reviews... you do wonder in FM ever left his office !
Interesting how lucid and detailed Tayna was as well - she was never allowed to say much (neither was any one else) with FM about
FM had a great vision, but it seems clear to me he left the company right on the edge. I don't however think there is much doubt the deal won't happen. Not only have SPR put in a load of working capital, but CC was talking about sequencing the deals and saw no reason the Vanchem and Mokopane sale would not be before the Orion part which would finalise the strike price for the $12.5m injection. The future value to both SPR and Orion is dependent on the deal - they make a lot of money in the years to come.
We also have Lemur disposal ($3-$5m maybe), the Cellcube (via Enerox share) on float (Q1 next year ? .. $150m+ giving us $30m+) .... Belco.. There should be some pre-prod (5-10k litre) sales from the 10 vendors any time and production sales Dec/Jan (from the timing he already gave).. although I would expect they wont be confirmed until after the Deal is signed
Certainly a tight spot, but not hard to see the picture vastly changing very fast
@cindercone
Mention of 'dam bursts' in relation to the BMN share price conjures up images of the Libyan city of Derna. BMN's dam burst some time ago.
I wonder which (if either) recover first? BMN or Derna?
I think this can definitely hit 5p by end of 2024, easy gains from around this price, although it could go a little lower. Absolute perfect punt!
HarChris: "Couldn't agree more Pdub. Whilst our views and perspectives have diverged somewhat in recent weeks/months it seems we're both able to share our view points respectably without resulting to childish insults. "
31 May 2023 10:53
"I’m going to go further and say you’re the most snakey snivelly loser on here Cindercone. I have absolutely no interest in debating with someone so comfortable twisting everything to suit their agenda and so you become only the second person I’ve ever filtered. F*** you and f*** off"
🤔
Pub, this is a parody account you are running isnt it.
Maybe pub and Capa are the same poster?
100% agree with your post HarChris. And he may well be permanently excluded. I will make up my mind on that later.
Broomtree,
You'll see Capa on the Rotherham terraces waiting for the other chap.
He'll be in full Lycra, cap on backwards, Newcastle style beer belly spilling over, a pint in one hand, a pie in the other and he'll have a racing bike next to him, ready to stare down any nearby motorists.
You wait, Match of the day.