Member Info for BenAlder

Well Stevie, (T.Ape, Snakes&B?) If you have them on the phone, asked them this:-

What is the general performance, condition and health of the 2 plants?

How much of the plants and equipment will need upgrading or renewed in the next few years?

Would it be cheaper to develop an in house sales team instead of relying on Wogan to sell most of our product or is this a necessity?

Mr Coltman needs to present his plan for short, medium and long term.

Tell them that all Directors should buy shares to show faith in the company, would be a good start at building sentiment.

Answers from CC at the next meet.

Bye!

"Both Acacia and Garnet have agreed to subscribe for US$500,000 each of the 2023 CLNs.”

Is that not because VRFB-H shares come with the return of the CLN's?

They are trying to gain shares/control of Enerox, no interest in helping BMN. Naïve to believe that.

I'd say its irrelevant. 33M shares held against nearly 270M likely to be dumped soon. Not large enough to influence BOD or market. The fact that they sold down to raise cash for another business doesn't demonstrate much in the way of support to BMN to me.

I think if Mustang dont buy, Garnet will push for US IPO, or perhaps buy out BMNs shareholding. I'm sure CC would be happy to offload ASAP. Definitely no RTO involving BMN.

Que TR1 @ 0% to prove me wrong!

Well onwards and upwards now.

Last TR1 notification required is going below 3%. There is no obligation to declare your position once below that. I've never seen one stating 0%.

Craig realises how cushy he had it at DeBeers. Pressure coming on big time now to produce cash to pay debt, running costs, sustaining capex and all those needy investors to deal with!. Inherited a group of people who dont have a clue. Didn't sound this bad at the job interview. A tinge of regret followed by a steely determination to stick to task. "Tanya, am I on the PDMR plan yet?"

Lastly, and goodnight. Thanks.

Would it be cheaper to develop an in house sales team instead of relying on Wogan to sell most of our product or is this a necessity?

Plus....

When the Mokopane licence is re-issued, what are your intentions with that project, and Lemur also?

And these.....

How much of the plants and equipment need upgrading or renewed in the next few years?

What is the general condition and health of the 2 plants?

@BenB - Try these,

Why can Vametco cope with their ore, but Vanchem cannot?

How is it the supplied ore is just as cheap as supplying from Vametco?

What was Les Fords advice/solution (World renowned expert)?

How are they going to survive the next two years?

funny thing is many a past critic bought in recently and are already underwater. welcome to the club!

its obvious now that there was not the skills base and knowledge required to run this this operation professionally and profitably, from fm down to the bottom. the investment case here was based on fm's goals and guidance of 5400tpa. trusting he was the man to deliver. well he failed and this has been a **** investment. i misjudged the man. fm covered up the story on kiln 3 for over a year and a half, dressing it up as power cuts. we never knew the whole story until he was pushed out the door.

target slipped by two years now and only producing -4000t in 2023, maybe 4800t in 2024. selling stock pile this year may mean breakeven, but unless they produce and sell +5000tpa, they are not going to be sustainable with v under $40kg. large debt overhanging, even if orion signs. bmn will require funding by next year imo, a new project/plan/path by craig, increased capex and debt restructuring, and then this should be sound with craig running it thereafter. maybe even consolidation so we can get to £1 a share!

how rosy are your tints?

Looking at the current state of affairs, why did they get awarded bonuses at all?

Https://www.bushveldminerals.com/media/broadcasts/brr-media/

Confirms my fears of a long slow recovery and likely more expense to get to decent profits. Also begs the question why they cant use Vametco ore with a similar process as they are doing with someone else's ore. CC has a heck of a lot of work to do.

Agreed Coffecups but I see this limited to 5/6p for now and restricted until profits are clear. Same scenario as the past. There is a risk that the Orion deal will result in another 6 mnths of them selling down their shares at a perceived loss. (They make their money on the rest of the terms.) And who yet knows if emergency capex is going to be required to rectify the current issues, beyond staffing. CC's specialty. 30 yrs of Diamonds, 1 mnth V. Its going to take time.

I understand AIM and know if this becomes vouge, like it has for you now with only a change in leadership, this could be a tidy profit for an avg at this price, but I'm another underwater balancing my risk. I'm not for adding now, BMN is not the only game in town these days. I remain a holder and have hopium.

You've come from bitter expresso to cappuccino with extra sprinkles, lol. ATB!

Facts are limited TB. We are all working off the same facts, its down to interpretation and bias to a large extent, ie assumptions. There is a lot we do not know.

Do you give this guy your trust and faith upfront or wait and see?

I'm weary and wary, its been a long road down to here and I expect a long road back up. Expecting a few more hurdles and delays before profit and SP value get up to my previous expectations. Worth a punt for newbies, but I sold some as coffeecups was buying, to speculate on a faster return else where. It is also to reduce my exposure here as there is more financial pressure on BMN in the short term IMO to achieve steady state and profits, ie what FM was advising. So I'll wait to see what CC plans and I think so will the market.

@Coffeecups you should of waited. Vametco plant now wobbling. Continued breakdowns/stoppages at both plants again last Q. Will they require more capex to achieve a steady +5000T pa? 2023/24 is another loss making year. Only high V price can save this now, cant see this recovering much ground this year. Looking elsewhere for better returns now.

In fact I'm anxiously waiting to hear from Mr Coltman, who seems ideal for the role with the exception that he has no experience of this type of processing plant, which seems to be the companys issue at this time. But he is a miner and they are practicable problem solvers. So I live in hope.

Ffs- if we didnt speculate we would not be in this share or discusing it.

The fact is the cost base is very high for this company. It will probably remain high, circa $180M all in, and B/E is, at around this 4400Tpa level, $40kgV.

So selling 5200T pa at $40kgV is around $30M post tax profit on the same cost base, and all in unit cost of $29 (5200/180)

So you have to speculate on the companies ability to achieve these production rates and further improve costs, and expect/hope that the V price does not crash. Otherwise there is no future as some have predicted. You have to speculate to accumulate or avoid loss. I'm not predicting.