Member Info for BenAlder

Yes maybe Squirty. Anyway, I wont dwell on the past anymore. A fresh pair of eyes/hands on the job now. We'll see what production and costs do from here. I believe we are in a good position, but without the high run rate we are not achieving the economies of scale we had hoped for by this time. Half a year to turn it round!

Well this is from the Results, under 'Vanchem Cash generating unit (CGU)'

It suggests to me that they were stepping up in stages for some unknown reason.

"Production volumes: In calculating the FVLCD, the production volumes incorporated into the cash flow model was 1,500 mtVpa for 2023, 2,300 mtVpa for 2024 and increasing to 2,500 mtVpa thereafter."

Why not straight to capacity?

Anyway, I hope you are right and will know more at the next Q update.

If there is no load shedding problems then why are we not getting above 200T/M. 600T+/Q at Vanchem? Is there still an issue with Kiln 3?

Maybe more clarity next month.

So am I. On paper this is the kind of guy this company needs right now. Operational, financial and project experience. Efficiency driven. He has the platform and just needs to wring the best out of it now.

Craig Coltman

Date of birth: 27/12/1960

Qualifications: National Higher Diploma: Cost and Management Accounting

B Com ( Honours) : Financial Management

Chartered Management Accountant

Interview from 2018.

https://cfo.co.za/articles/interview-craig-coltman-de-beers-consolidated-mines/

Kiln 3's energy costs are likely to be almost twice the cost of running Kiln 1 last year. We are not producing twice the volume yet, so more costs per unit.

You should not underestimate the non-production costs, as they all add up and undermine profit.

How much have things improved this year over last year really?

Things will improve here when production climbs to capacity. (2024?) Progress has not matched investment yet, a year after completion. Sales need to rise to 5000T+pa

V prices look good and we have a new experienced Captain onboard, I am optimistic, but I dont bang on that it is a given.

Some raw materials such as chemicals need to be imported. With infaltionary costs and a weaker Rand, means a much heavier increase in costs.

The re-jigged CLN means more interest is being paid. More costs.

Never said that Chris, dont you start putting words in my mouth.

Unless they sell a considerable amount this year, they are on for another meh year when V prices are at a respectable level. Things should improve greatly when we are running at capacity, but at the moment we are scraping by. Hence the warning that funds may be needed.

@Chris - Consider this.

Costs for Vanchem underestimated possiblly linked to continued underperformance of Kiln 3, higher than expected inflation and energy costs. (At least they are not making glass anymore.)

Expected liabilities for the year not covered by actual current cash flows. Sales slow? Unexpected breakdowns and additional costs.

V price is under breakeven for the year.

Jimbo, I hope AIM embraces MUST and drives up the SP while Fortune sells down to 5%. Rather have the cash. Fortunes the only one here who's made money out of AIM recently so could do well. IES. (joking) Those are high risk, capital consuming businesses imo. Glad to ditch them personally. And no I do not think it will have much impact on the SP after the initial reaction to relisting.

@pb940 - This was a bit contraversial to post as well, but thanks I'd have not found it for a while. Funny it has not generated more discussion.

One thing they dropped was that Mustang seem to be taking BE along with VRFB-H and setting something up in SA, as I speculated a while ago. The idea that Mustang will re-list soon(?) and possibly have a higher mcap than BMN is amusing, but I bet it happens. £100M would be worth 2p to BMN. Will it be recognised by the MM's/Market, do you think?

It would open up the domestic market as well as industry. Cost is always the driver. These will be more saleable and a bigger market. They will shift more V in time. If MK Plus were listed on AIM I'd have a small punt and stick it in the bottom drawer with these shares.

@pb940 - Nice find. Smaller and cheaper would lead to higher uptake than VRFBs. Probably years off from commercial availability but looks like the future.

Summary of article pb940 posted.

According to MK Plus their solid-state battery provides higher performance at lower cost over vanadium redox flow batteries, Their claims include:

Rapid charging in minutes (C-rate of between 100 and 300 versus C-rate of 20 in VRFB), achieving massive charging speeds 100 times faster.

Use one tenth of the amount of vanadium than VRFB use for an equivalent charge.

Have +100,000 deep cycle life without heat dissipation (no fire risk) or degradation (long life).

Have been tested at ambient operating temperatures between 100oC and -40oC without loss of performance.

Maybe TA. Like you I was surprised just how well the news went down, although I saw it as good news. Up 33% before profit taking and the recent consistant seller(s) dumping on the opportunity created by todays news. Hopefully they will be cleared out along with weak holders. We'll see next week.

More people 'joined' the ship today than 'abandoned' it, I'd say, but nonetheless very strong interest. Those who have been watching from the sidelines for news on the turnaround are now committing. Whether traders or LTHs, they see improvement to the SP. Sentiment has changed.

The significance of the volume obviously eludes you.

Most traded since 26/3/18. Look what happened after that!

Goat - 9% is 10% less than the 10% they were previously paying Orion. Make of that what you will.

I read the boards. No one here claims be be an expert. Merely opinions, like yours, but better supported generally. I see a Mary Whitehouse has had the post I refer to censored. Happens to you frequently.

The Market thinks there is at least one less skeleton in the cupboard and were prepared to put their money in today. Its also acted like a dose of Epsom salts and is clearing out the sellers. But even our traders are adding back in, no doubt not wanting to be out of this over the weekend. Next lift should be less encumbered. Get your surfboard out for more incoming waves. (Vision of a goat in speedos and sunglasses.) ATB!

Well they should be scared as hell, but investing and AIM come with wealth warnings and ignorance is no excuse. Dont trust anything anyone says and find out for your self. If you dont like high risk, stay away. No bubbling later on.

Well life's a great teacher. Some will now better understand the risks and over committing. You can't protect everyone Beginerman. Live and let live!

Wish I just stumbled upon it today. Could be a great investment!

Yes and the stockpile is converted into 5.5M? L of electrolyte and sold for $30/40M profit, would make for a great year. It is possible that FM could pull a rabbit out the bag and sell it this year, but it seems tight. Depends how its paid for. Upfront part payment or all on delivery.