Member Info for cindercone

They will sell as soon as they get the chance, dragging the SP down for years. There comes a point when even the staunchest of supporters has to admit Mojapelo is no longer fit to front BMN. The loan debacle proves he's clueless and overseeing a car crash here.

I take no pleasure in saying that, but the company needs a CEO with vision, transparency and communication skills. He has none of those things and his business decisions are now highly questionable.

Mojapelo has driven out every single institutional investor and I expect Orion will do exactly the same and cash in their chips assuming Mojapelo is capable of leading the SP back to 6p. Or maybe he will just bung them more cash and renegotiate their CLN down to 2p.

At what point do people have to get their head out the sand and ask whether he is really fit to run this company?

If Fast Markets is effectively the same as Investing.com for the EU, why would Investing.com's US price be questioned? We know BMN sells premium products to the US, but that's not Ferro Vanadium and BMN won't disclose what the premium is on what products.

However, now that we agree that Investing.com is accurate in the EU at least, their prices in EU reflect:

April 01 - $38.75

May 01 -$34.25

Jun 01 - $31.75

Albeit 6 days into June and it's still $31.75, that's a downtrend.

I get my prices for China and EU from Vanadiumprice.com and they're showing a downtrend too. Honestly, the BS here is f**king embarrassing. Who do you think you're kidding exactly?

@Pdub - well I go by the only public published source for prices, Investing.com.

March 01 - $42.05

April 01 - $38.25

May 01 - $34.65

June 01 - $34.55

That's a downtrend and it's exactly the same scenario for China and EU.

Asian Metal doesn't even give a price. Maybe BMN should publish an accurate daily price, but they seem to want to hide everything from investors.

Yes, brasi, it may not be accurate - but it's all we have to go on and unless someone can prove the figure is higher, they shouldn't lie about the numbers.

"Prices remain flat with Europe at $32.2/kgV and US $38.8/kgV. "

Actually, it's 31.75 EU and 34.55 US according to Investing.com. If you can prove these numbers are incorrect, then do so, otherwise stop deliberately deceiving people.

Three-month downtrend is not flat.

What's the difference between a positive or negative opinion? Should people not discuss things that are painful to hear or negative for that reason alone, or is healthier for these views to be aired?

Who is more deceptive, someone that overeggs the investment thesis and tells barefaced lies to try to convince investors to buy or someone who points out their anomalies/deception and offers a more realistic view? I am not suggesting certain posters are out to deceive deliberately, it may be subliminal, but I would say exactly the same about people that hold a negative view. Being negative does not necessarily mean you want the SP to crash and burn.

Why would positive views be prominent when the SP is in such a state and the CEO has shown zero willingness to do anything about it? He needs to be pressurised to explain himself and perform better, or get out. At the very least. Mojapelo should no longer be fronting the company - BMN needs a new ambitious voice that is transparent and communicative.

Deramping implies I want the SP to go down or I am actively shorting. I am doing neither and don't believe anything said on here has any effect on the SP so it would be pointless "deramping" anyway. Ultimately, that's what you meatheads are too stupid to understand.

For me, Mojapelo came close to defaulting on the Orion loan and his appalling disinterest in the SP makes him unfit to run BMN. He is overpaid and negligent. Presumably, you think otherwise but you're entitled to think that.

It's very odd how the obvious frustrations here are directed at shareholders like me rather than the man in the top seat whose decisions, or non-decisions, are really affecting the SP.

Remember when I said 8,000 mtv is a pipe dream that's five years away (or more). BNP Paribas tend to agree:

"Our production forecast for 2023 is at the bottom-end of management guidance and we do not forecast production reaching the bottom-end of the anticipated 5,000-5,400 mt V pa sustainable run-rate until 2026."

So according to them, 2026 before we even reach the bottom end of 5,400 mtV let alone 8,000 mtV. Take your time Fortune.

Hoisted by his own petard.

HarChris, you said it yourself "It would be a genuinely serious situation now" had the loan not been refinanced. Perhaps you could tell us what you believe gave FM the confidence that V prices would be high enough to pay off the loan he had to renegotiate.

As HarChris has now admitted, Mojapelo threw the dice and gambled with the very existence of BMN. Without 'luck', i.e. the Ukraine war elevating V prices, BMN would have most likely defaulted on its loan. Reckless management.

"It would be a genuinely serious situation now if he hadn’t pulled off the recent refinancing"

So finally you agree with me then. The first loan was such a reckless deal that it almost plunged BMN into crises - and that's with elevated V prices for most of last year.

Get a grip Codejunkie. Take your frustrations out on Fortune Mojapelo, he's the one standing idle while BMN's SP burns to the ground.

I'd like to apologise to all shareholders. I was under the impression that the current catastrophic freefall towards 2p is somehow linked to the business decisions made by the CEO, when in fact it's all my fault.

What transformation? He's borrowed a massive amount of money to refurbish some kilns in a very favourable price environment and still couldn't afford to pay off the loan.

He's lucky that global events disconnected to usual V price dynamics created such high prices, otherwise BMN would be in seriously deep sh*t.

Thankfully, that's been averted - at more cost to shareholders, but Orion is just a lender at the end of the day. If they believed in the model then why can't FM get any other IIs on board?

"The loan was a painful necessity to get where we are today"

Where are we today - a six-year SP low? FM's decision is only a good decision if VRFB uptake is reflected in V prices long-term. Personally, I'm not in the habit of congratulating people until they deliver meaningful results.

Unlike others, I don't blame you for that or the likes of HarChris and I certainly don't blame people who come here to vent, mythical "shorters" or "paid trolls" - I blame Fortune Mojapelo for his poor decision making and cowardly hiding from investors.

I came in when I heard from other people about the investment thesis - a thesis that I still believe in. BMN is one of the few vanadium producers I could invest in, so I did.

Mojapelo has done nothing to assist us on that course. Quite the opposite. He took on a massive loan the company could not pay back despite favourable vanadium prices and destroyed sentiment for 12 months while we all hung around waiting to find out what he was going to do about it. Then he doubled down and destroyed sentiment further by telling everyone that BE split from BMN and leaving it hanging in the air for another year.

Almost every II has bailed our and he's incapable of bring new money into the business to support his supposed thesis.

Hence, sentiment totally destroyed by his amateur deal with Orion, inability to keep the market updated and lack of consideration for shareholders. That's why the SP is where it is.