Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Linked to their lower iron/steel production.
Interesting note on the Asian Metals portal for those with a keen eye:
29/04: "China's x 6 Vanadium Pentoxide powder producers stopped operation in March".
Why would all x 6 stop production I wonder (sales prices too low, etc)? I have no idea but odd they would all stop as a group.
South Africa and aim not a good mix I've lost a good few thousands on these dodgy corrupt twayts
Well, just took 1m shares and almost halved my average, straight in the SIPP for the very long haul.
Let's see what happens from here.
MenoMosso: to an extent, but the most significant factor by far is international V price. That’s the achilles heel for mining stocks. If it was booming we wouldn’t be having this conversation. It may be turning now.
Https://www.energy.gov/technologytransitions/articles/doe-awards-5-million-towards-clean-energy-manufacturing-development
https://www.herox.com/make-it-facilities
Cellcube and Stryten Energy, a Vanadium Electrolyte company, have won 500K$ as part of the 12 winners of the phase 1 of the MAKE IT programme. in Phase two they have to prove they have to prove their manufacturing plant is shovel ready. 4 winners of phase 2 will be awarded 4.5 million to start construction.
* be
Elon heard about the ease by which Vanadium in VRFBs can be recycled.
Company to renamed BMX.
I jumped in hook line and sinker some yers ago, but didn’t sell as I’m a long term holder….. I’ve lost 95% of my investment now, a big chunk of my retirement fund. At the same time I invested in BMN I also invested in BTC, was told at the time that crypto was volatile and investing in a company that has physical assets and actually makes things and sells things is always going to be a better long term strategy. Well, they couldnt have been any more wrong. What riles me is the unregulated (and potentially illegal) environment that AIM enables by allowing investors and companies to collude and share information…..most AIM stocks I’ve invested in have gone boom and bust with zero way to question how the company operated and what information was shared….and few legal ways to challenge it . It’s not just the way the company behaves it’s the way the investors are allowed to behave that is the huge disgrace of AIM.
JP I echo your sentiments, but I've lost enough that there's no point in hitting the sell button, might as well keep my holding here and see what happens. Mighty effort from CC but the fact that Acacia haven't paid us anything was a spanner in the works he couldn't have predicted
I'm fairly sure that was a joke.
At 10. 29 yesterday a post popped up saying Elon Musk invests £100million in BMN . This post has now disappeared, was it just ramping briefly ?
When do we expect release of all phase one results?
0.80 paid.
Has the market twigged that V prices may be on the turn?
July appears to be the illusive target without funding from someone, it will be a last ditch raise attempt that will decide our fate. What I may have missed was what it takes to get to July?
Had CC been in charge 3 years ago, we would be sailing this commodity price cycle on calm waters. Instead we're facing gale force winds with a massive fracture in the mast.
The difference between Fortune & CC is night and day. Whilst there is no point in crying over spilt milk and Fortune did have positives, he was a visionary.
Visionaries can sometimes take you right to the top - Elon musk I guess is the best example, however more often than not they fail.
Pragmatists - Which I would put CC in this category, see the wood for the trees, meticulously separate it and find value.
Had we had CC in charge 3 years ago, I believe our losses would be less, cashflow better and funding issues addressed from a stronger position.
Belco is a shining example - 'I'm not putting anymore in to belco, IDC need to stump up' It is this cold but pragmatic attitude that Fortune did not possess.
Flip a couple of coins because the odds are fimly stacked against us.
"I've always said to you that we've got a plan to do 6 months with a focused improved planned maintenance with the OEM preferred supplier I should have added to get us to a position where we can get the increased reliability on the assets we're looking for. To get the increased operational performance at Vametco in particular for the second half of the year so... hope you can deduct from that yourself the likelihood of that materializing."
LOL, I hope so, too!
"If funding isn't resolve imminently it is a real, real risk. Because [...] the requirement to have [...] approval, which is now earliest July sometime, that's too late. We need to get funding. [...] You are spot on, there is a very real risk associated with the going concern if we don't get funding issues resolved IMMINENTLY".
Well, should this story come to its end soon, nobody can pretend CC had not been crystal clear.
"Orion doesn't lose out, besides the 5% holding they have. And the new owners would be getting the assets at such a knock down price that it would be worth mothballing until the downturn in V is finally over."
Don't think deactivating a company for 1-2 years then hiring 500 employees to bring it back to life is within a private finance companies remit. They will simply sell off the assets and call it a day.
@ Lamps56.
So, you didn't think that CC saying that waiting for the funds from Vanchem and Mokopane sale would be too late, was a concern.
2 of our biggest investors, SPR (14%) and Acacia(6%) have recently not come forward with promised funds. Although SPR did remedy the situation, sort of. They provided their own, interest free, loan which, when it was received, only led to 11 days of shutdown, because the funds were not received on time.
And saying that i averaged down to a 60% loss, would seem a bit odd, would it not?
FYI.
I have just under 700,000 shares @ average 2p. Book cost just under 14K. Loss £9,500, 68%. If i'm going to take a loss, who's gonna worry about the 8% that i didn't mention, when soon that loss will be 100%.
I hope i'm wrong. But i doubt it.
There is a negative narrative developing here, somewhat at odds with the investor presentation today. CC stated on several occasions that there was risk if the V price didn't tick up this year, and he admitted that he was looking hard for short term investment, but I didn't sense the inevitable demise implied by the foregoing posts. There are some green shoots on the V price charts, and who knows, if it turns around then there will be a different conversation. If you don't take the risk you won't reap the reward.
And p.s. Isleworth, my apologies, I was joshing with you. Course you averaged down, we all did.
'Who wants to take over a heavily loss making business? It's plausible that will come together to find a solution that benefits everyone - at a price.'
If BMN go into administration asset strippers go in and sell Vametco, Vanchem, Cellcube etc either to Orion, who own the majority of BMN's debt or to another entity/entities with proceeds largely going to Orion (other smaller debtors too).
Orion doesn't lose out, besides the 5% holding they have. And the new owners would be getting the assets at such a knock down price that it would be worth mothballing until the downturn in V is finally over.
This is what Craig alluded to earlier and is why it must be so hard to find willing funders now with BMN on the brink.
@ Lamps.
My average is about 1.8p. I could look but i wont bother. I actually bought many more at 0.6p after the recent RNS, to bring my average down. I could sell these at a small profit. And, FWIW, I was one of the lucky ones who was investing @ 1.4p, 7 ish years ago. I've made my money here, but came back to make some more. I believe the company has now been set up to fail. With several big hitters waiting in the wings.
I do hope that i am wrong. Unfortunately, with the delay in funds from some of our bigger investors, and still on-going, it would appear that i am right.
And the exact i expected from you!! you do know that's why they call you 'goyim' right?