Member Info for BenAlder

TB as production increases the unit costs will drop. Last 2 years have been at 4200T rough avg pa. BMN should be producing 5200-5400Tpa. 25% more, so Chris is right imo.

Agreed Chris. That is the key, hitting those production figures ASAP. Vanchem 600+T/Q. Anything less and they are just breaking even in this V price range. Last 2 years results show this. I remain optimistic that V prices will head back to over $40 as consumption increases worldwide. China needs to put all those steel mills back into full production, just been slower than expected due to covid.

I cant see any consolidation until they are re-financed or sold. I'm sure there are ways and means to achieve the BODs plans, so looking ahead, if part or all sold as per rumors, for say £200M, would leave about £100M for shareholders after debt paid off, 14p. And same if still public, cashed up to end of human trials. Maybe worth a lot more as a going concern hedging successful trials and future production.

Maybe they want to consolidate first, so not having to change the '25p'nominal share setup?

If they sell half the company to someone they would have to issue the same no of shares currently on the register, doubling the current shares. I think its more the BODs snobbery that they do not want to be seen as a penny share that they then consolidate with a x to 1 arrangement to be valued somewhere between £1=£2. Mcap still £10.4M

At the end of the day, it will the market that decides the mcap/sp, but any rescue should see it multiples of the current £10.4M if we're still public.

If there is a shortage of V the price will go up. Who can live with a sustained high price? Not the VFRB market. The steel market could wipe out the demand of new vanadium battery projects for cheaper alternatives by keeping prices high.

Increased consumption for areospace alloys likely to make up for fall in steel output and keep prices firm, as we have seen for last year.

The arguement that VFRB's would balance V prices is only true when V is moderate or cheap. It should help moderate prices when there is surplus V, but they can't compete in a high price environment outside of China.

However, current prices are likely to be at the low end and demand is expected to rise in the future, so BMN will be well placed to make good profits on any rise in price, when they sort their house out and produce a consistent 5000+Tpa.

Looks like the seller is Odey, which suggests to me that the French guys were probably making a speculative grab for cheap shares.

I cant see this going completely to the wall. The IP/research/patents are worth something to someone, as is the potential returns for a successful product for market. The debt has to come off that. The offer would have to commit to further investment to keep this viable to the production stage.

How much has been spent/invested to date, anyone know?

@ CC - You are not a troll. You are a grumpy, irate er.. shareholder, prepared to challenge the narrative. I do have sympathy to your position and hopes on transparency. We were kept in the dark for too long.

We have no idea how sound the plants actually are IMO. Money was spent on 1 kiln and a few bits and bobs, but you can bet that there were many other repairs that didn't make it onto that budget. Sustaining Capex likely to remain high for the next few years, even without expansion, as these are old plants, and maintenance is probably more of a rolling re-build rather than a routine service. Cons of brown site build.

Wish I could take that boots on the ground tour with him.

I'm optimistic any professional miner will improve productivity here. There is the possibility to make sufficient profits going forwards. Debt issue is just postponed. Serviceable but impeding further spending. New guy may want a clear out and fresh start with a few upgrades?

So hoping for more clarity than just the couple of confident paragraphs we expect as given, when he addresses the nation. Maybe too soon for much more though.

no he is a ramper, you are clearly a troll. attacking a poster personally and nothing to say about the share. you are the worst kind, bitter, a common trait amongst you. i remember you ramping this share shortly after buying in. posting history shows yor research was **** and based on hype of the bb. now you've been stung its his fault. grow up the lot of you and stick to the subject of bmn.

Yes both him and Mr M Kirkwood. A very strong signal for me, if it happens.

@Squirty - He hasn't seen it yet!

Yep, I agree with all the two of you have said the last 2 days.

We are in the dark until the new leader reveals his intent. Hopefully he will give us a lengthy review and his plans for the next few years.

I bet we are not holding any Mustang shares in two years time!

Speculating in a vacuum.

BB has gone to the dogs, I'm taking a break until news.

ATB!

I agree that Mr Colt is probably here as a change manager. Career miner brought in to shake it up and create a new culture. I've seen a few in my time. Usually ruthless and tend to upset everyone, but get results. Short terms of a year or two, than a nice guy comes in and maintains the new order. I am optimistic there will be quick improvements, but whats his attitude to spending and raising money? Perhaps that is for the next guy when all is well and expansion resumes.

@JP - Head of Cellcube SA Division? Maybe get to stay with his mate NM. That seemed to be their original dream, before Vanchem. Good luck to him. I'm sure he will do well. Already got an income sorted with his property deal. He sorted out his upstream supply for the new business, now go build batteries for Africa.

I am talking purely Vanchem. Vametco has been steady for last couple of years, and the gain last year is marginal overall. The problem is Vanchem.

Since commisioning, they were making glass and having to stop and clear it out every now and then. Did they not check the feed before. Could they not amend the process? Do they not have a chemist? Or is it a lack of expertise? Remember Old Les? Problems that even without load shedding have held them back. Bad luck or bad management.

Yes it was resolved, but it should never have been an issue and now reliant on a third party to supply us! So the fact is we are not effected by load shedding and should have been producing 2600Tpa rate since the new feed, or perhaps that is a lower quality ore? My grip is not achieving max capacity installed. 4500T is not as good as 5400T - where we should be now. But the costs are about the same. Its urgent.

Rant over. Yes Chris the future is rosy (if CC doesn't find any skeletons in the cupboard)

Pdub - While I am sure we share similar aspirations for BMN, progress is not as grand as you seem to portray. The operational gains have been minimal and below expectations. Large amounts of money were invested and upgrades completed this time last summer, but there is no return on that investment, the target has not been met, 1000T short. So a little progress at great cost - that is the balanced picture. And some believe that is failure, not great progress. Its not been as successful as you tout, not yet.

Your posting history. Same companies. Sudden disappearance of TA at the time of your arrival. Similar attitude.

Was a police detective for 4 years. - no thats sh*te, lol. Did you think you were getting away with it. I knew ages ago.

Just play nice. Being a troll is not what you say but how you say it. Faramog is right in that we should have a fresh start on here. Less personal, a bit more respect all round. This surely is rock bottom and the only way is up. But not the first time I've thought that! ATB to everyone.

Should be good returns from here, but I'll watch it like a hawk. Best of luck.

Thanks.

Or did someone else already out you and I missed it and you are being sarcastic? Trying to take you seriously. Did you buy in recently?

You poor little victims.

Well if you are being honest, the Badger should admit he was a sun loving ape in a very recent past. He has had as many alias as you have goat.

Poor things.