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@Loudspeaker as one or two others have already commented, the current prices really are outstanding for any Vanadium miner that is in production. With just one week to go, be it of little affect at this stage, I have the current European mid price for Q2 at $68.75 per kg and H1 coming in at $61.40 per kg. The US prices must surely be playing a role here as Vametco used to always ship into Pittsburgh (the centre of US pricing) prior to the BMN buyout, and I see no way that that could have changed. Plus I see no way that a supplier would limit its returns by agreeing to use an overseas pricing structure such as Europe. But that aside, H1 is over $61 per kg and J2 has every chance of starting higher than that position. A remarkable result which nobody can alter or take away. I look forward to the figures I really do.

@Alfacomp thank you, duly noted and duly respected. I will readily admits that the accuracies of the FeV market are less my focus or my forte, it’s more for me about the feel for the sentiment in the words used. Time and again there is commentary reinforcing the message that the market is going to go higher, so it will.

@Daisan the article quotes FeV50 and not FeV80 so the prices are naturally a degree cheaper. I agree, very interesting times indeed.

@Pdub for once I will say it for you. The signs are all there, both BMN and V prices are demonstrating a strong base from which to move north, and it is taking place just as the latest phase of the company’s development will begin to come to fruition. The SP is very well supported at these levels so all the action is to the upside. Enjoy.

As per the discussion last night here is the sort of evidence that regularly demonstrates that the market is beginning to bottom out and will begin to rise again shortly. These are only snippets but they are more often than not reliable. https://www.vanadiumprice.com/chinese-ferrovanadium-prices-up-under-adjustment/

Good morning Funki. It is legitimate to employ the resources of BMN as a comparison in order to demonstrate the level of quality that Aura has announced. My beef if you will is with the irresponsible quoting of a resource that has been measured to as low as 0.1%, purely to drum up excitement in the retail investment sector and in the main, here on AIM. It in turn encourages the use of such $240m headlines, which in turn encourage unsuspecting and unfortunately unprepared investors to place their hard earned money into something that they don’t truly understand. The nomad should be called to task for allowing such content to appear in the RNS in the first place. That the project is viable or not is up in the air until a scoping study is released. Near surface ore is a positive but the grades are not. However, the key issue will not be the viability of the project it will be the company’s ability to convince financiers to back it. Then if they do then it will be about the risk profile and thus the level of dilution. A project with 0.42% grades needs a lot of things to go it’s way to be assured that the market will back it because it will need higher long term average prices to demonstrate it will be viable for 25-30 years. Vanadium prices are high and for me will remain above the long term averages for indefinitely, but right now the finance markets aren’t buying it because Vanadium prices are notoriously volatile. That’s change but to bet against it now with a project of such low grades and so early in its lifecycle is a big risk. Remember we are talking about a project that is 5 years or so from production, if the financing goes smoothly. There are a great many other better projects that will come on line between now and then. So what one has to ask oneself is where will the demand and supply sit for Vanadium in 3 years because that’s when they will be trying to convince someone to back what will be a major capex. It may all come good for Aura, it may be they have a clever team, but they are up against it with the quality of what they thus far have.

@Bolgas with all due respect we are some way apart in our thinking. Your statement pointed towards a further circa 33% price correction. I see no evidence that this is the case and further more believe strongly that the buyers are about to return, simply because the time period that has elapsed points to this as a logical conclusion.

Just to simply my point somewhat regarding the drop in prices without ever wishing to repeat myself too much. Focusing purely on V205, we have seen a $2.20 per lb drop in prices in 3 months or 13.4% For these prices to drop to the high single digits, we would need to see a further $4.50 or so reduction in prices. That would mean twice the drop we have seen in the last 3 months. In terms of the vanadium market a 13.4% drop in prices is extremely mild compared to some of the wild fluctuations that are normally expected. What that says is the factors involved are not structural but merely superficial, namely the Chinese steels mills refusing to pay the higher prices, and a drop off in demand as the buyers have dried up, a move we have seen several times before. There are one or two indications that those buyers are starting to re-surface but it isn't really important that we determine when they will return, more that we know they will return. With prices softening so slowly, it is inevitable that the new higher lows, will be far higher than Oct 2017's lows of $34, because if there was going to eb a shock it would have happened already because prices have been retreating for a full quarter. And there lies the answer. The true strength of vanadium prices is actually demonstrating itself in the weakness of the fall in prices, rather than the strength of the rises hat have come before.

@Bolgas I appreciate that you are talking about V205 prices, whilst I in the main focus on BMN's main product which is effectively FeV. V205 prices currently sit at around $14 per lb mid price.So for them to touch the high single digits, we are talking about a effective 33% reduction from here. If I applied the same calculation to FeV then we are talking about a drop from $64.25 to around $43. To place that in context, it's important to analyse what the price correction as it currently stands. FeV prices (mid) peaked on 28th March peak at $71.50 FeV prices and are off approx 10% at $64.25. V205 prices having peaked at $16.4 per lb on 6th April are currently trading at $14.2, which is a 13.4% drop. It has taken 3 months for prices to recede that far. With Q2 2 months old, we have 4 more months of trading before your expected rise would kick in, a rise I assume you believe will be driven by the new Chinese rebar Regs in November. In terms of V205 we are talking about a drop of just $2.20 per lb in 3 months. If we look back at the last time that prices dropped following the rise into Q3 2017, then we see a fall from a peak of $48 on 11th Sept to $34.50 on 20th Oct. That's a 28% drop in 6 weeks. Now when we look closey at the reasoning behind the price drop in September 2017, we do find that as you have indicated, it was an end to the environmental inspections in the main Chinese vanadium producing regions that led to additional supply coming on line and thus a reduction in prices. However, this time we are coming from a much higher pricing level and yet prices are falling with far more reluctance. Furthermore, there is no clear supply trigger. There are no environmental inspections that have come to an end. Infact there are no indications in the information I have seen, that demonstrate one single change on the supply side and this is backed up by the shallowness of the decline in prices. If the demand/supply balance had been tilted like it was in Sept, then the price fall would be far sharper because traders would be scrambling far more to offload stock bought at what are near record pricing levels. As it is the message is unfaltering, that supply remains tight and it is a softening of demand that is easing prices. However, with the world economy and in particular China showing no signs of a major decline in its growth this year, the drop off in demand cannot hold and nor can the steel mills attempt to counter the market demand/supply dynamics. So for me not only is the infomation from the main news sources strongly indicating that we are simply waiting for the buyers to step back in, but also the price reaction too. It is clear the traders are confident because they aren't dumping their material, they are simply waiting because the buyers can't hold out forever, and for me that time is almost upon us.

I�m afraid you are allowing yourself to get carried away by a headline figure, which has nothing to do with the actual value of the stock. It is irresponsible of the company to print such a figure when they know fine well it will never be mined. When they release an actual study on the project it will highly likely concentrate purely on the 90m Ton resource at 0.42% with a view to firming up a reserve in the region of 25-30m tons, which would equate to a circa 30 year mine life. That will form the basis for the later studies and the eventual mine plan, if the company can gain support for the project. But I would warn that at 0.42% the project is fairly low grade so the processing costs will likely be high, particularly when the company is thus far indicating that recoveries could be as low as 59%. For reference BMN�s Vametco achieves 73.69% recovery but the insitu grades are 1.96%. BMN�s greenfield project Mokopone has insitu grades at 1.4% for its 29.5m ton PFS stage reserve, backed by some 300m tons at 0.68%. I say this because BMN have not referenced any grade below 0.3%, simply because it isn�t viable. So quoting grades of 0.1% is as I say irresponsible. I have no axe to grind here but having a history of Vanadium investing, it was with interest that i saw the Aura announcement. But my findings are that it is a weak project at best and has little chance of making it into production. There are far better projects out there. There is sufficient hype around Vanadium right now to perhaps drive a buoyant IPO, but if it�s more than �5m, I will be shocked, because the company hasn�t even released a scoping study, so it�s all risk right now. Best of luck to you all whatever your decision here.

I would add that whilst it is for coincidental, I fully expect V prices to soon start to the follow the same prescribed path. Once the buyers start to re-enter the market, I believe those prices are going to bounce fairly hard too meaning new highs. If that comes as expected, in the middle of the latest news show from BMN, then the next leg up here will be a very strong one.

As expected a healthy bounce and now this starts to get really exciting because the stock is far stronger for that pullback, meaning the news flow that will shortly be upon us has a far stronger starting position from which to boost the SP north. The assault on 30p has in my view already begun.

@Daitom in the last operational update t it was stated that ; ‘Vametco realised price is based on an average one month prior to sale.’ I had only surmised that it was around 6 weeks. What 4 weeks does is strengthen considerably the Q1 figures and in turn H1 in general. We are heading for an average mid price of circa $61 per kg, which is very tasty indeed.

@Massiveray I would respectfully request that the public goading of investors perceived to have made poor investment choices be stopped, whatever the individuals view of the recipient. We have all made poor investment decisions, i see no good coming from focusing in on this. It’s not healthy for anyone involved.

One shouldn’t try to make things anymore complex than they need be. At this stage of BMN’s development there are bound to be suzeable buyers now and again who will affect the availability of shares from time to time. Secondly BMN has come a very long way and a great many PIs have made life changing sums. Plus a great deal many others have joined along the way from those days of 1.3p. Given the likely size of that group there are bound to be those that once they see there is a hold in proceedings, will want to bank some profit. And good luck to them too. In the long run it will be very healthy for all of us that these periods have come along and the heat has been taken out of the stock. It means when significant news comes it will likely have a far stronger affect on the SP and the next leg up far more chance of holding. At the end of the day this is merely a pause, a chance to take a breath, before the next round of excitement takes hold. In a little over a week BMN is going to sign off Q2 with an average mid price of circa $69. That is a very substantial figure indeed. That level of progress alone will lead to this stock pushing beyond its year highs, particularly if as expected they have produced and sold more than in Q1. In the meantime it’s a waiting game for what else will and can come between now and that point in time. One thing is for certain the opportunity presented at these levels will not last very long.

Was able to buy earlier but not been able to for the past 40 minutes or so.

The bounce will come soon enough because the news flow is too great and too close for it not to play a part here. It’s one of those things that when it happens it will be obvious that it was going to happen but likely only then. I have seen it happen in shares with far less signposted news than this, and let’s be clear, BMN has a very healthy backlog of news to come between now and the end of July. The question is only who will blink first.

In Bushveld terms they have gone tweet crazy this morning. https://www.miningreview.com/bushveld-energy-exciting-year-growth-first-project-executed/

@Sanchez I wouldn’t even give it that much credit. The 98,000 is a buy. The retrace is healthy and will stands this in good stead these coming weeks, which are set to be the very best in the life of BMN thus far.

@Clarkgriswald this is just a period in which to take a good breath after what was a very exciting but energy sapping ride up the 20p plus camp. If some wish to trade this share then good luck to them, it won’t make any real difference in the end. The news flow will begin to flow again soon enough and the next leg up in this venture will begin.l in earnest. The belief that BMN was or was not traded for a few weeks will fade into complete obscurity because it is of little consequence to the final achievements. If anything I believe many shareholders will look back and be grateful for the pause in events and the chance to catch their breath, and perhaps purchase a defibrillator or two, because as is always the case here, I get the distinct feeling that even the most battled hardened BMN shareholders are once again underestimating what is about to be witnessed here. Mainly because it’s just too grest an event to allow oneself to buy into it too early. Tea break is nearly over. Traders choose carefully.