Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
Hi NicetoMichu,
there are a few references to Gamesa / Siemens. This is the first one under CEO Larry Zulch's summary under the paragraph heading:
Progressing Mistral
Our most important partnership is with Gamesa Electric and Siemens Gamesa Renewable Energy (SGRE) as reflected in our previously announced Joint Development and Commercialisation Agreement. Nothing on our pathway to profitability is more important than the investment we are making to progress the joint development of our next-generation product. The objectives for Mistral are simple, albeit quite challenging to realize: lower costs substantially from our current VS3 product while increasing the suitable project size addressed by our product from 10s to 100s of MWh. These objectives are captured in a single metric: Levelized Cost of Storage (LCOS). LCOS captures the total cost of operating a BESS, including purchase, operating costs and efficiency, on a throughput (in MWh) basis. Mistral is targeting the best LCOS of any BESS, bar none, and to beat years early the U.S. Department of Energy's LCOS target of $50/MWh by 2030.
Do a Command + F for 'Gamesa' and you'll find the other references.
5 members of the Huxter family (1.3m) voted 'No'
Just a warning and actual illustration of shareholders apathy when it comes to voting and why it is CRITICAL to vote (Yes or No). The following RNS was for HUR and a brilliant illustration of what can happen. This was the vote for the Capital reduction from 11 January 2023. Read for yourselves but approximately it was passed with 99.5% 'For'. However, only 29.8% of shareholder votes were cast ( it was probably only CA that bothered to vote). For there to be even a slim chance of blocking this Scheme of Arrangement ALL PIs and small IIs MUST vote.
ALL shareholders have power but only if they exercise it.
https://www.lse.co.uk/rns/HUR/result-of-voting-at-general-meeting-ok7s2pbly99pdjb.html
Incidentally, I've noticed this across so many AIM companies with significant PI holdings; check out RNSs with voting results for any other companies you've followed.
VOTE! VOTE! VOTE!
I think the timing of new CEO's admission that Shell were considering ditching UK for US is significant: The Chancellor will unveil his March budget statement shortly and the message is clear, work with us not against us. When The Netherlands starting chasing Shell down in the courts they left after 100 years - Jeremy Hunt better be listening
LTH but sick and weary of BMN's deals and communication thereof. Why do they have to be so opaque, so smoke and mirrors - is this intentional? Why? Why can't our plans be spelt out clearly? There's a lot of insults chucked around on this BB questioning intelligence (and intent) but come on, we're smart enough to understand the content or intent of most RNSs we read - but this Mustang/BMN deal is wilfully complex to the point no-one posting is really sure what's going on!
They say you shouldn't be invested in a company if you can't understand the business model, well, too late for me, I'm heavily in and at times worry I'm out of my depth - I just pray Fortune's got something brilliant cooking which will add significant value to shareholders; other scenario, Fortune's out of his depth too.
p.s. UKSTEVEG usually love reading your insightful and balanced comments - any ideas?
Great article loudspeaker, thanks for posting.
I recommend that all BMN investors read this as it has great information and insight into South Africa and Ramaphosa's plans for the electricity industry. Fingers crossed he remains in power for a few more years.
Whilst welcome, the MUST RNS continues the Bushveld tradition of muddied ownership - the complexity is bad enough for LTHs but is I believe a turn-off to new investors. never sure whether it's down to poor communication or knowing obfuscation. Will be writing to BMN to recommend @Maninshed's diagram of ownership suggestion.
Behind the smoke and mirrors and the soul destroying drop in SP I've always had a feeling that Jose Roy Borromeo (Acacia) has been looking for a better investment than vanadium mining and sees more action in the vanadium batteries - his holdings (BMN Vs MUST/Enerox) might suggest this.
Yeah, Immediate Acquisition (IME ticker) sold their entire holding £950k on 14th June ahead of a reverse takeover of a finntech company Finu. Seems that Mark Horrocks's sells announced today may well be to finance the loan facility of up to £2.5m that he's providing the new Finu (IME) company to assist their expansion - rather like Tobin provided here at BOOM). So maybe not a vote of no confidence in BOOM but a necessary sale to focus on his main project. Any one interested read the IME RNSs from May 2022.
London Underground staff bagged almost 9% pay rise in the last 3 months (IIRC) and guess what? Yep they're still on/off striking every week but it's not about pay it's pensions, working conditions, night tubes. If it is tolerated here it can definitely happen in SA.
Hyosung please approach Duferco and buy off book all their remaining shares in BMN.
Hyosung please then increase your holding to a very significant, say, 10% shareholding to get a ringside seat in V mining and electrolyte.
Hyosung get seat(s) on BMN's board to inject some world class leadership to focus on global expansion.
Not sure about SA's politics but going forward South Korean company seems way safer to have as a partner than Chinese suitor.
Fortune please, on the phone now (but no dilution, NO CLNs)
Surprised and disappointed that share price hasn't risen on takeover activity in sector: Brewin Dolphin's recently recommended takeover (by Royal Bank of Canada) added over 60% to its value and commentators said private wealth investment was of growing interest to financial companies. Patience I guess.
Before Alfa and Cindercone rock-up before the libel courts they might consider the damage (irreparable?) that their case may bring on their future dealings:
"Uncomfortable as it may be for the two sides to continue together, these present proceedings are not the way forward."
That's the final words summing up by the QC from the 70 page Garnet Vs VRFB (Bushveld) ruling (7th March 22)
Folk questioning why our share price is taking a hit. Seems obvious to me, the level of uncertainty regarding the Mustang investment along with the clearly damaged relationship between BMN/BEL and Garnet. It's been put off (RNS 11 March) until close of business this Thursday. Uncertainty never sits well against share valuation.
Thanks @Floyd81 for posting the downloadable ruling yesterday just after 3pm.
All shareholders should download and read it though be warned, it's mostly dense legalese but at times we get a real insider's view as to how these deals are orchestrated. Can't believe that there has been almost total silence on this BB, but then again, as @UKSteveg said, no-one comes out smelling of roses so maybe best to reflect on privately. On a positive, we've not lost the case but Fortune and Mikhail won't be opening the champagne and the judge recognises it will be uncomfortable for both parties to work together.
Interesting to see the responses after the 72hr moratorium.
Please, would Shell (Renewables & Energy Solutions), Siemens, Schroeders Investment Bank (IES' largest shareholder) or Tesla kindly buy a large and significant shareholding in BMN. Then, place a couple of highly experienced directors on BMN's Board to shake things up - we need to partner major league players in energy transition if we're to become a serious force.
In fact, any major energy company buying in to BMN would be welcomed but, frustratingly, they've not bitten yet.
For me, this is the only kind of RNS that's likely to lead to a significant share price hike.
Duferco will shortly hold a very significant 5%+ of BMN stock plus any stock remaining unsold from their first tranche of CLNs (which could range from zero to 2.99%).
Previously many of us, including Alfa, believed or hoped that Duferco would retain their (initial) holding so be part of the great vanadium story. That proved to be disappointing for us LTHs and there's nothing to suggest they will change their investment strategy.
Recent experience has made me less sanguine so I'm resigned to a long drip feed into the market and the months' long SP suppression.
However, with the absence of the 6 month orderly disposal clause it is possible that an II or large company is already lined up to take all or most of their shares off market (Siemens please). That would be a great vote of confidence for Bmn and the share price. Prayer said, candle lit....
Sanchez - Don't Abandon This BB!
Your excellent post summed up precisely what a lot of us felt (70 at time of writing) but were either not inclined to share or unable to articulate so well. I was surprised when Alfacomp stopped contributing but as a 7.5 year holder I honestly feel this BB has been a better place; people with fears, uncertainties are less intimidated and feel free to post. Sure, it's not an uplifting or celebratory place to be at the moment but your with your presence we are holding the company to account - albeit indirectly.
I fully respect your decision to step back but if you have further relevant insights or opinions I would love to read them.
Mogwhy,
your final comment was interesting:
"I'm expecting the corporate structure to be simplified by the merging BE & BMN to give 100% ownership of BE assets by BMN"
Why do you expect this will occur? Or is it merely something you just hope will happen? It would certainly be easier to follow our sometimes tangled ownership percentages.
Patience Knuttie, rather than a sensible offer I would welcome Siemens taking say 10% to 20% of our stock which would send an powerful message to the market (unlike, for example Duferco who against our hopes were quick profit takers). Give Siemens a seat or two on the BMN Board of Directors and they'll bring experience and professionalism that we lack and will need going forward.
All possible - re-read the IES RNS and SGRE (Siemens) have the option to take 9.99% of IES's stock! This could end up being the vertically integrated BMN being swallowed by a the vertically integrated electrical powerhouse. Patience Bubby.
@Investor1977 & @tryingtomakeabit - Respect!
Seems you guys called it right and certain investors have voiced this to the board (or just Raven / Cooke) leading to what amounts to an a hugely embarrassing reversal as per today's RNS. Well done you (and ADVFN) for voicing concerns.
What's really worrying is the lack of judgement from those at the top running this company - I think this might trigger some changes in the boardroom.