Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It's easy to gamble with investors' money while paying yourself half a million and renting offices back to your own company at triple the going rate. If the business fails, so what?
Mojapelo is a grifter - no other word for it.
Sorry, wrong forum - ignore post. Great to see AVCT going well.
China is still the driver for v prices, which is why they have continued to plummet globally for around 9 months. us prices are only 12% higher than china, which is now at a near 4-year low. it would be nice to know the exact profit margin for higher grade sales to the us.
anyway, there remains numerous positives now. first, coltman who has done more in a few months than the dithering fraudster he replaced. he seems to be getting on top of things and costs are coming down.
other positives include:
- premium sales of electrolyte sales at some point in h1'24
- coltman effectively trading 50% ownership of vanchem for 100% vametco as vanchem is the bigger cost drag and vametco's solar plant will reduce costs by a further 10%
- bmn's alliance with spr and highveld steel, which could potentially allow for **** to be supplied to vanchem for processing at "much lower and more efficient costs"
- vrfb uptake is guaranteed to create significant v demand. i suspect it's too early to have a major impact right now, unless prices in china would actually be nearer $20 without demand for v from vrfbs
thanks to coltman the potential upsides are beginning to overtake the threat of extinction. although this remains a sock draw investment, bmn just needs to stay in the game.
it's not totally unrealistic to hope for a convergence of factors that will lead to massive price spikes based on a chinese property market recovery, increases in global defence spending, particularly in the us as they're giving all their weaponry to ukraine and israel, and huge demand from vrfb uptake.
that could be anywhere between 3-5 years away and, of course, nothing typically goes to plan, but having an understanding of these potential factors is what gives the edge to anyone investing at these miserably low prices.
china is still the driver for v prices, which is why they have continued to plummet globally for around 9 months. us prices are only 12% higher than china, which is now at a near 4-year low. it would be nice to know the exact profit margin for higher grade sales to the us.
anyway, there remains numerous positives now. first, coltman who has done more in a few months than the dithering fraudster he replaced. he seems to be getting on top of things and costs are coming down.
other positives include:
- premium sales of electrolyte sales at some point in h1'24
- coltman effectively trading 50% ownership of vanchem for 100% vametco as vanchem is the bigger cost drag and vametco's solar plant will reduce costs by a further 10%
- bmn's alliance with spr and highveld steel, which could potentially allow for **** to be supplied to vanchem for processing at "much lower and more efficient costs"
- vrfb uptake is guaranteed to create significant v demand. i suspect it's too early to have a major impact right now, unless prices in china would actually be nearer $20 without demand for v from vrfbs
thanks to coltman the potential upsides are beginning to overtake the threat of extinction. although this remains a sock draw investment, bmn just needs to stay in the game.
it's not totally unrealistic to hope for a convergence of factors that will lead to massive price spikes based on a chinese property market recovery, increases in global defence spending, particularly in the us as they're giving all their weaponry to ukraine and israel, and huge demand from vrfb uptake.
that could be anywhere between 3-5 years away and, of course, nothing typically goes to plan, but having an understanding of these potential factors is what gives the edge to anyone investing at these miserably low prices.
It's illogical if you're a moron. VRFBs take up a tiny percentage of vanadium demand. The main driver is construction and China's property market has collapsed with property developers going bust left, right and centre.
So along with the Orion conversion and the Mustang conversion and the BEE conversion there's only about another 500m shares to be sold before we can think about the SP turning around. Then you have the V price, which is claimed to be staying flat until 2025, which means not profits for at least two years, no doubt accompanied by more debt to keep the lights on.
Not the most attractive investment at this point.
One niobium company in Brazil produces 85% of global supply, so it will never be a threat, especially as no new mines have been developed in 40 years.
If CEOs are allowed to sue people for spreading misinformation in relation to shorting, then shareholders could sue people for misinformation in relation to ramping, as both activities are deliberately designed to mislead/deceive people and result in losses to shareholders.
Of course, the chance of this ever happening are precisely, zero. Otherwise, Pdub and HarChris might well find themselves sharing a prison cell with Tom Winnifrith.
"I think the bottom’s in now."
Hello? What about the 100-150m Mustang CLNs that are probably still on the market?
Far from it from me to be optimistic or imagine BMN will still exist in 12 months, but the price drops are evidently down to the Mustang CLNs, which is no different to all the CLNs that were sold in the past at SPs 20 x times higher than where we are now.
Even if SPR/Orion was all signed off tomorrow and things looked a lot more positive, the CLNs are going to drag this to hell regardless. It's really a gigantic amount of shares to eat through.
A sub-1p drop seems inevitable due to the Mustang CLNs and there's no buyers due to everything being in limbo. If Mojapelo was still in charge he'd tell us how hard he's worked to avoid shareholder dilution 😂
What really makes me laugh is the broker price targets. Didn't they know about the 250m share conversion about to be dumped on the market? Their broker notes are no better than toilet paper.
@MoreCheesePlease
Not sure I'm the one you should turning to for advice considering my track record as a holder of BMN. All I'll say is, you'd have to be a complete ignoramus to put money here unless the V price returns to at least $40s for a sustained period.
Thankfully, Coltman's deals look like they will eradicate a lot of debt, but he will still have to slash BMN to ribbons to make it profitable at these prices.
Then you have the CLNs, probably still 150m out there waiting to be sold + another 65m from Orion. Why on earth would anyone buy with that hanging over shareholder's heads?
If BMN gets through the next 18 months there could be a very strong reversal, but it's a punt. Anyone who tells you different is a liar, but we already know who the liars are on this board.
Is ATM going to be any different to BMN? They make no money. EV car sales are slowing. What is the grade of their lithium resource exactly? How much will it cost to get into production? If they borrow from Orion, will shareholders find themselves bogged down by CLNs for the next 2 years?
As an associate of Mojapelo, Mr Viljoen might well be branded guilty by association. Two chancers enriching themselves by selling a pipe dream based on renewables without the nous to make it happen even if the opportunity is there.
The only person who got rich was Fortune Mojapelo. He knew the company was in serious financial distress yet continued to rent his offices to the company he was CEO of at 3 x the going rate.
Looks like fraud to me and I hope the directors are pursuing it.
It's almost as if Mr Satter didn't realise that 260m shares were dumped on the market following the Mustang conversion.
If they're so confident they'll be happy to convert at 6p.
Broker notes lol.
What broker predicted the mess Mojapelo got us in or the 2018 V rise and subsequent drop? They only know what they're told. Total waste of time reading all that crap.
Brokers wined and dined to give positive forecasts and only positive forecasts. One big con.
Because he's a malefactor. BMN were paying him 2/3rds over the going rate for office space.
"Many here were keen to support Craig without even knowing his plans, and quick to blame Fortune for everything. I was prepared to do neither."
Of course you're not prepared to, that would mean having to accept that your pathetic fawning over him was totally misplaced - something you're far too arrogant to ever admit to and exactly why nothing you say should ever be trusted or respected.
You'd have to be blind, deaf and dumb not see how Mojapelo's incompetence has run BMN into the ground and almost killed it stone dead. No thanks to him, the company has had to sell half of Vanchem and Mokopane just to keep the lights on.
To not aportion blame to that incompetent, deceitful buffoon is patently absurd, but then deceit embodies every bone of your body.
You'd have to be some sort of prize moron to keep adding money to this dog,