Member Info for BenAlder

There you go again, assuming. Suppose BMN are unable to supply that additional tonnage at the moment. Forward sales may have taken all our available production for the year, including our mini grid? The refurbishment needs to happen so we can guarantee supply. Did we not turn down someone recently?

@ Libero - The contracts are with Enerox not BMN. Only if we have received orders would it warrant more. Perhaps there is a need for silence at this time. It is also likely that the vanadium marker is very small in that, customers come direct or via a small number of worldwide brokers and it is confidential. You are not aware of the bigger picture that Fortune does. I am sure he gets your message regarding comms and will rectify that in time. You do seem to assume a lot and wholeheartedly jump in with an opinion that seems ill considered at times, otherwise I respect your effort to promote the company.

https://www.salvationarmy.org.uk/map-page

Madagascar is desperate for electricity. Not much of the island has power, especially where this mine is. The fact is coal power has more chance of being built in the short term then renewables. See :- Climate change: Africa's green energy transition 'unlikely' this decade. - https://www.bbc.co.uk/news/science-environment-55620848

This project on completion would be worth in excess of $200M? conservatively. Fortune is being quiet about it, perhaps a) does not help his green narrative for vanadium and b) moving the project on to beyond financing and perhaps construction, before disposing it for big money. I do not see it being retained beyond that, but in business you do not show your hand.

I would not be surprised if Lemur was developed alongside solar/wind and batteries, so that the coal station is small and carries the base load, with batteries helping with peak demand. Fortune is a vanadium salesman after all! Is BE involved?

Just don’t write it off cheaply.

I think I will send her an email to say they are doing a wonderful job. Keep at it!

Just another email and opinion to the hundreds they must get each day. Everyone has an opinion, whose right?

" Myself and a good 95%+ of other holders completely agree with you! "

Wow you did a poll of shareholders!

You think she should go because she has you on filter!

What are your credentials for running this company I'm invested in?

I think the most helpful path this company can take now is to get off AIM and onto the main market. Then get that joint listing done. Do don’t talk.

Lemur is rarely discussed and largely written off or eagerly off loaded for free by some. A lot of money was spent on that project. Coal powered is still the most likely generation to be built in Africa these days. I am hoping we get a nice surprise from that direction, sometime?!. If we sell it on at the right stage it could raise a significant amount of money. BMN can then fast track to 8400t pa and re-brand the company and paint that tree green!

@CC good to know you are aboard and optimistic for the future, so stop wining about the supposed poor PR now. If we were at fair value, would you still complain about the PR?

The PR is no worse than almost every company i've been in. Twitter etc is hot air and non-official. A news worthy RNS will do.

Its the facts and figures that is important to me.

I'm happy to discuss any topic or concerns in this company, but not with someone that starts off by attacking someone else (not good LH). How for instance would you suggest they improve things? I'm not convinced that hot air and adverts are really going to sell this share. Its the ££££££'s - And we will have to wait - but I'm sure it is coming. IMO.

Markets are unpredictable. You are here because you see profit. I think so too. Only in time will we know.

Are people missing the pubs? Cabin fever?

Patience is what it is going to take. This year is all about building in reliability and expanding the processing side. Fortune thinks the market wants to see results delivered on goals. Maybe the market is waiting for those goals to be delivered too, before committing?

I've been in many mining companies where the same thing happens. They start production and the share price falls! BMN's income has been erratic and the low V price produced a loss for us last year. So may not look good on paper. But they come good as they prove their earnings and costs to the market. The track that BMN is on now will lead to increasing revenue, where once more established will merit a P/E of 10 -15. and a SP £1+. If it takes 4/5 years for a 6 bagger with low risk, I will take that rate of return.

Yes PR can always be improved, but perhaps they are concentrating on building a great company as opposed to promoting the PR at this moment in time. It is not one of Fortunes strengths, but I can forgive him that because of his strengths.

If you are so frustrated, take some money off the table, go gamble on other punts. You will either get lucky or remind yourself why you pick winners and wait. Either way it will take away some angst here and give you some new ones to worry about!

Best of luck, everyone.

Who gives a .... Our turn soon, rodders.

Hard work waiting!

@Alfa - sorry didn't answer the V price question. If demand for vanadium stays high, $50 kg may be sustainable. I think we are on for a spike now. Steel leads the way, we know current supply is tight. V prices tend to spike to extremes, which is great for us now, but they fall as quickly. In two years time I am hoping VRFB demand will stabilise the prices at a higher level, before falling and stabilising a at level you suggest $40 kg. as new supply comes on. But we will never see the lows again. Inflation is coming and that will keep prices up too.

@Alfa - that is the big unknown at the moment. How much profit can you squeeze. My thoughts are that they cannot go too steep as costs for the V is high. If they only make another $10 a kg equiv. profit that is 50% additional profit on that 1kg of vanadium, which will be supplied at market rates. If you consider too, that the majority of sales, perhaps 5400T to electrolyte @ $30 profit and 3000T to steel at $20 profit. If we are doing that, my biggest fear is we expand again, and the dividend is put back!

The biggest take away from their expansion is that the demand is there for VFRB's. Research or demand from sales inquiries has lead them to the conclusion they need to be bigger. Add IES's momentum, and we will be struggling to process enough vanadium for these two companies alone. Our connections with these two companies gives us a first move advantage over our competition. So I really believe we will be digging up 8400T in 3 years time and selling it all at good margins.

So they can use those standard 1000l plastic boxes in a wire cage that you see being used to transport some liquids. To be honest, just got my construction hat on, seeing how much of the battery is worth building in SA. It does not matter really, as I see us getting into the value chain that Mikal talked about. BE doing the project planning, hiring Enerox which they own 25.25%, and supply them the electrolyte that they made from vanadium they dug up! Early Fortune interviews suggested that BEs involvement would not be in manufacturing itself.

Yes, I think you answered my question. So the final battery is electrolyte in plastic containers in a shipping container sort of set up. I thought the electrolyte would be in a specially lined leak proof metal container. Excuse my ignorance, i will look it up. Thanks

It makes sense to load the tanks with electrolyte in SA, if that is where it is being manufactured. I imagine the containers are fairly simple to manufacture, so do that there too. Ship it all in one go saves on transporting the electrolyte separately?

@Alfa - are the battery containers lined with a protective lining or paint?

There are hints that Enerox is going to play a bigger role for BE than I imagined last year. At least the Germans are world renowned for their engineering and reliability. Good sales angle. It’s a poker hand, soon to be revealed.

I think it has something to do with a change in uk law, may be wrong, where non resident shareholders lose their voting rights to LSE traded companies. To stop foreign majority holders influence. Unless the company has a duel EU listing like shell etc. so I think that is the black list referred to.

End this thread, please.

You have to expect the day traders, they know this is undervalued, but like the frustrated holders do not know when it will rise.

Well the disconnect with the V price and production can only go on for so long.... This is cheap, are the risks so high?

It is needy PI's that are the reason more companies go private then float these days. I honestly do not think comms are that bad. PI's are too fickle at holding. I see their selling for the reason we are down here, not poor comms. I think AIM and Africa and small mcap size are factors in a lack of II's , but that too will come - following the money. If you have done your research and trust the management, see the business is in good shape, you do not need constant reassurance of your investment.

Results will bring the masses, as Fortune had said himself. Beyond that the company can do little about its share price. I believe the people that want better comms are only here for a short term target, and the pressure is too much. I doubt many of the rampers will be here for the £1 party.

A few months ago we were half the price, in a few more we might be double the price and still be worth holding for future growth.

Each to their own and you are entitled to an opinion!