Member Info for cindercone

"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,

HarChris: "Couldn't agree more Pdub. Whilst our views and perspectives have diverged somewhat in recent weeks/months it seems we're both able to share our view points respectably without resulting to childish insults. "

31 May 2023 10:53

"I’m going to go further and say you’re the most snakey snivelly loser on here Cindercone. I have absolutely no interest in debating with someone so comfortable twisting everything to suit their agenda and so you become only the second person I’ve ever filtered. F*** you and f*** off"

🤔

March certainly wasn't a good month for HarCrap:

""We're very, very close to a turning point here and once the dam bursts it's no exaggeration to expect a share price multiples of where we are now by the end of the year, maybe even with a 0 after the 4."

"We can be as close to certain that BMN are generating significant cash so far through 2023 so between that and selling a portion of the inventory we should reach the amount to be repaid."

"BMN is in a great position to flourish over the next 12 months when others will be finding themselves in all sorts of trouble."

The requirement for funding, if it's even needed, is miles away and who knows what the SP will be this time next year if the data continues to show such outstanding results. To claim funding fears are a reason to sell at this point is patently ridiculous.

Don't worry AimWolf, thanks to that second job in 10 years you will have made your money back and BMN will be 3p. Happy days.

Everyone knows there's a huge share overhang so it's hard to define SP movements. Thanks to Mojapelo's deals smelling like a rotten corpse this will likely continue for at least another 12 months.

The most important thing is that BMN lives on.. and Mojapelo was sacked. If he was still in charge there would be no BMN as he certainly wouldn't have the guts to sell off Mokopane and half of Vanchem. That would make him look a total dick.

@BanAlder

Sorry, what dig?

As I said, it's a long-term investment. There's a sh*t ton of CLNs to eat through and more when Orion hit their target. 5000mtv at, say, $45 + premium electrolyte sales would easily push SP up to 50p and divi territory.

Probably somewhere between 2-5 years away though. Don't see a lot day trading value here short-term.

Timing's a bit dumb then. As BMN is now derisked for the foreseeable future and PIs therefore less likely to accept a takeover bid.

Any company with prospects can be taken over at any time. At such a cheap price, the time to strike BMN would have been now.

This is pretty much a JVA, similar to BE and IDC.

I'm sure Orion will be delighted with the outcome. They're laughing all the way to the bank.