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I am still here, rode up to 49p, held out for £1+, got it wrong and now well underwater. Sacked my astrologer, smashed my crystal ball and have a half scale model of Fortune for sale, i'll also throw in the Mikhail model for free, so realistic it's invisible.
Only just come across this thread as I was intrigued to learn what has gone wrong with Bushveld this last year.
I am truly saddened to read that Pdub has passed away. He was the epitome of a fiercely loyal, long term PI. I don't know of anyone else who took part in the initial run-up and rally to 40p, and through all the subsequent decline. There was one other who claimed to be a LTH, BigBiteNow, around the same time, but he exited at a decent profit, I believe.
A great shame Pdub didn't live to enjoy the fruits of success justified by total belief in management. Life can be so unfair.
RIP, sir.
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
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'?
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.
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.
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
LawrenceH a true bushy 🔔 end