Member Info for alfredh

"In the absence of sufficient value being realised from the assets or new capital being raised, it is unlikely that the Company can be considered a going concern."

For many months people raising well reasoned concerns have been screamed at and dissed. Now the die hard cheerleaders are administered a reality pill.

Any quite a few people warned about it. They have been snubbed by the cheerleaders gang each and every time. Finally everybody got what they deserved.

But it was in February when I posted it. go figure.

4,5 months later funding still isn't resolved and as BMN officially stated in the meantime, my assumption could turn out to be spot on: "Trading in BMN stock halted."

They bought Vanchem for US$68M, spent many millions on upgrading the kilns, paid millions in interest and now sell the thing for "*UP TO*" US$40.6M. Fantastic!

"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.

Boom!

As a matter of fact, things HAVE deteriorated since then. The European vanadium prace HAS tanked to $5.20/lb from $6.50/lb in mid Ocober and production HAS been impacted by lack of funds.

At some point he must have realized what he's lost will never be recovered.

If funding isn't resolved soon, is "trading in BMN stock halted".

Below a Penny!

Another 6-year low! 1.68p The lack of vision, dismal Vanadium prices and the loss of the most valueable assets play out here. Pubs and dubs, don't let that get in the way of a good ramp!

Almost a daily occurence now, BMN has set another 5-YEAR low: 1.85p! The dream of Orion converting at 6p is rather funny.

New 5-year low! 2p! The downtrend continues as it becomes obvious the new guy can't stop the collapse.

Mojapelo ran this into the ground, too many loose ends, too much debt, can't make any money.

Shows hot awful Q2 results really are.

In Q4-2019 Vametco alone produced more Vanadium (880mtV) than Vametco and Vanchem combined today (840mtV).

2.155p is the new low point. Till the next RNS is released, LOL!

"Funny how rampers never predict a bad RNS, even though almost every RNS for the past three years has been bad. "

And they keep going the same idiotic route. They pretend Orion was dumb enough to accept a 6p conversion while the market values BMN closer to 1/3 than half of it.