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"Oh and Squirty you conveniently left out Covid, falling V price in 2019 that nobody expected to that extent, global trade impacted by a container ship in Suez, Ukraine war"
Immediate impact of Ukraine war in Feb 2022 was to raise the vanadium price to $63.50. Why tell the truth when you can tell lies?
Hindsight 🤣 That's literally his job, to predict, project, make investment decisions and raise finance based on those findings. If he gets it all wrong in hindsight then he's a sh*t CEO.
This protectionism is seriously ludicrous and designed not just to mask Mojapelo's incompetence but the poster's own incompetence.
On top of that was Mojapelo's obvious failure to factor in worst case scenarios, i.e. global recessionary factors that might lead to increased costs, and the fact that load shedding had the potential to considerably worsen.
So to recap. Mojapelo's reckless Orion deal, the terms of which were evidently based on total bullsh*t projections of future vanadium pricing, has had to be renegotiated, costing BMN substantially more in interest payments.
Even with the debt renegotiated, BMN is likely to have to go cap in hand to the market for external funding, meaning more debt and dilution affecting an already decimated share price due to said CEO's incompetence, lack of transparency and poor decision-making .
And yet some berk still wants to the previously sacked CEO to stay on board in some capacity to further destroy value and endanger the future of the company.
Having pretended to block me, we now have to go through the pretense of Pdub answering my posts whilst pretending he's not read them 🤣
Typical Pdub, deceitfully focused on perceived positives.
SP Angel also project average V price of $36 .5 for 2023 and $40 for 2024. Not very healthy, hence why they expect BMN to require external funding over next 12 months.
BMN needs a broker that can convince investors to buy shares, not dream up ludicrous price targets completely detached from reality. If you had a clue about investing you'd want them gone. Their broker notes are littered with errors and amateur spelling. It's embarrassing that BMN still uses them.
More evidence that SP Angel are not just useless but totally insane.
"...which goes to show how misleading that metric can be when you have acquired a stockpile like we have here."
First you have to ask the question, why is there a stockpile? If you can't answer that then your suggestion that the net debt position is misleading is deceitful, like virtually every claim you make.
Maybe you can explain how BMN's buyout of Lemur netted a large profit, taking into considering the Imaloto Coal Project was "impaired during the year" at a loss of US$5.1 million.
Mojapelo nowhere to be seen: https://www.bushveldminerals.com/about/leadership/
Let's have a more reaslitic reappraisal of Mojapelo's various messes:
First, Lemur - what a horrendous waste of money. Read the timeline: https://www.miningreview.com/top-stories/bushveld-minerals-a10-88m-takeover-offer-for-lemur-resources/
Eskom- total failure to convince Eskom to trial VRFBs and win tenders. From the beginning, BMN dangled one foot in and one foot out, giving zero updates along the way until it all fizzled to nothing. No doubt a lot of shareholders lost a sh*t ton of money hanging off the word of Alfachump and BBN who claimed contracts were a dead cert. Speculations based on a combination of deception and ignorance.
BE - told us a year ago there would be a carve out - since then, nothing. Instead of using funds to insert BMN into the VRFB sector, it now looks like Cell Cube will have to be sold to help pay off the ludicrous debt Mojapelo racked up with his reckless Orion loan.
BMN - share price collapse speaks for itself, primarily caused by uncertainty around the ability of BMN to function as a going concern. Constant missed targets (verging on the ridiculous), comms stunk and transparency zero, leading to constant speculation that has made BMN practically uninvestable. Mojapelo simply couldn't get on top of these issues, while investor relations have been non-existent bordering on arrogant disdain for shareholders.
Had Orion not shoved Mojapelo out the door, would the board have pressed the trigger of their own accord? Keeping him on the books in any capacity would be a mistake. I shudder to think what else Mr Coltman has unearthed over the past week or two.
Mojapelo is the one who shat in your bed. What's written here pales into insignificance compared to his actions and that of the BMN board.
Stop being a twat. Everybody knows you and Pdub read every single post.
@Pdub
"I have removed you from filter for the time being so long as you do not resort to personal insults ."
Why were you reading the posts of someone you claimed to have filtered in the first place? 🤔
@RazorShultz
The outlook is still very positive when you look at projected growth for VRFBs/vanadium demand. The problem here was Mojapelo's dreadful leadership and ghastly and reckless Orion deal.
How much vanadium was BMN pumping out when the SP reached 48p? The company would have done better to focus on inserting itself deeper into the VRFB market and refurbishing the kilns when it had much stronger cashflow to do support it.
@ARCM101
"The new CEO is a finance guy, maybe a safer pair of hands, and someone who will instill discipline but CFOs are more reluctant to take risks wouldn't you say. This company needs to take some risks to survive let alone thrive."
Risks are the last thing BMN needs. The new CEO is, theoretically, exactly what BMN needs - a numbers guy who understands finance, i.e. not Mojapelo.
"I find the bullish narrative of Pdub not only abhorrent, but alarming."
Doubt anyone with a brain pays attention to what he says anymore. How many times can a person be wrong?
Naughty Largo, replacing Glencore who refused to export vanadium to Russia to help them make weapons of war.
https://www.linkedin.com/posts/alan-patrick-ryan-a26448a_russian-imports-of-brazilian-v2o5-on-july-activity-7082397655112249345-JxGI/?utm_source=share&utm_medium=member_android
This is pure comedy 😂
it's no coincidence that the filtering storm began with the departure of mojapelo. certain individuals have been made to look like idiots and rather than own up to the *******s they've been spouting for years or risk engaging in discussions that make them look even more silly, they cowardly pretend to filter.