Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
I don't remember disagreeing about anything. I wanted him sacked and you gave a load of waffle about how much you loved him and how happy Orion were with the financing. Then they went and got him sacked because they wouldn't renegotiate the deal without a competent CEO to replace him.
As for the future, I suspect Mojapelo's mess will continue to haunt BMN for years. Hence, why I'll continue to bring him up in conversation. If you don't like it, you know where the filter button is.
A beautiful song, but maybe you need to let something go - your last 10 posts have all been about me.
We no doubt have to wait for Acacia to dump another 33m shares.
I said years ago that every institutional investor Mojapelo got on board was only interested in lending then quitting, while the usual fake know-it-alls told me I was a troll.
Well they can't use that stick to beat me with anymore as soon there will be no IIs left, other than Orion who will sell theirs asap. This will drag on the SP for years.
Thanks to Mojapelo's witless management this really is a sock drawer investment until 2025.
You told everyone I was on your block list yesterday, so how do you know Quote 1? 🤡
Listened to the investor meet. Clear and concise answers to everything, for once. If the Orion deal gets regulatory clearance, it appears as though it will go ahead unchanged.
Two quotes stood out. "We need to get smaller before we get bigger". IMO, Coltman has magicked up a reason to downgrade future forecasts, giving him the low base to start from that he speaks of. This obviously benefits him, but it also shows an understanding of how markets work, i.e. don't promise more than you can deliver or you will get punished.
Because of Mojaplo's increasing lack of confidence in his ability to manage the business, he was always trying to hide bad news. To counter that, where he felt he was in control he kept feeding the markets overoptimistic forecasts. This has been a total disaster for shareholders as not only does bad news inevitably surface but because of Mojapelo's incompetence he missed all his targets. Hence, we never got a good RNS about anything.
Quote two: "We don't have any appropriate planned maintenance system, if we did we wouldn't have so many frequent interruptions." This makes Mojapelo look a total amateur when it comes to the running of the plants.
Plus...
When does Mikhail Nikomarov's LinkedIn sixth-form school project end? Does his course include contractual negotiations? Will he be leaving after his exams to prepare for the workplace?
Careful HippyDays, you'll get pretend blocked.
"I believe that he has now filtered everyone."
On the contrary, he hasn't filtered anyone.
"Fortune really was a loser"
When you think of the assets that BMN has and size of the workforce, the SP really is ludicrous. I'm surprised Mojapelo hasn't been sued for negligence, perhaps by BMN itself for breach of fiduciary duties towards the company. The other directors appear clueless as to the damage he's inflicted - did anyone ever attend board meetings?
Yet another II desperate to get out.
Funny how rampers never predict a bad RNS, even though almost every RNS for the past three years has been bad. Either they're deceptive or thick as mince, which is it?
Mind you, it appears Fortune Mojapelo was the biggest ramper with his consistently ludicrous production targets. Always trying to spin a positive when he full well knew the unfolding mess he was creating.
Such horrendous mismanagement on multiple levels surely renders him unemployable.
I'd be surprised if Coltman took the job knowing BMN was teetering on the brink. Again, what would be the point? The concern is that he's just as useless as Mojapelo, in which case we're done for.
Q2 will no doubt be sh*t, because it has Mojapelo's fingers all over it. I'd expect the Orion deal to go through as planned and flog off Enerox to help pay the first debt tranche in November. Some serious cutting and slashing may be required to bring down costs and squeeze every profitable penny out of the plants.
Perhaps Coltman can sue Mojapelo for incompetence and claw back some salary, then mug off the hopeless Nikomarov if he's done nothing to secure contracts for BELCO and sell off BE's 55% of the plant to the IDC.
Ditch the mini-grid as it's a pointless waste of money and go back to being a pure miner maxing out production on what we hope will be sustainably higher V prices within 2-3 years.
"Doesn’t really matter as I have quite a collection filtered. I neither know nor care what they are posting."
As everyone knows by now, you're far too self-obsessed and egotistical to refrain from reading posts. Denying it just makes you look even more dishonest than we know you already are.
Coltman's first comms will tell us everything. Good or bad, the most important thing is transparency - it's not his train wreck.
No corporate BS and maybe buy some shares at these pitiful prices.
Anyone notice how Coffeecups is the equivalent of HalfManHalfGoat when he's out and Pdub when he's bought back in. Laughable individual.
"This pattern is quite common on AIM and commonly referred to as a bubble."
50p wasn't a bubble. A bubble is driven by speculation, but in this case Vanadium prices went absolutely through the roof and BMN was raking it in. The share price didn't go pop either, it came down with the vanadium price.
Assuming Mojapelo hasn't killed the company stone dead, IF vanadium prices reach $100+ again for a prolonged period the SP will climb much higher than 50p. Profits would be astronomic.
Not sure what your point is. Better to speak in plain English.
Spend 32 years at De Beers just to close down operations at BMN and render himself unemployed? Doesn't seem a very attractive job offer to me.
*help pay off the Orion debt.
@Paul150
"Now that Fortune has gone, personally i think that Bushveld should sell their entire stake in Enerox"
IMO that's been the intention for quite a while. It would have been patently obvious around 16 months ago that Mojapelo had bungled the Orion deal and couldn't pay off the debt. That's when he first mentioned the BE carve out, which encompasses the sale of Enerox to pay off the Orion debt.
The reason nothing has been mentioned about the carve out since is due to lack of clarity on Enerox's ownership structure.
Basically, by running before he could walk and building up unsustainable levels of debt, Mojapelo has had to part-destroy the VRFB value chain he's been wittering on about for years.
This perfectly demonstrates his amateur leadership and why a numbers man has been brought in to clear up his mess.