Member Info for cindercone

That's cos Myles McNulty has bought back in - and he always brings his fanboys along. Unfortunately, there is clearly a big seller that wants out and is dumping huge amounts on every rise. That never seems to end with BMN.

A lobotomised chimpanzee would have more credibility than Lawrence H.

Okay, 2 months. 1st Dec EU price was $36.75, but if there is no movement in next 13 business days there will have been very little rise for three months.

It would be nice if BMN could give us regional sales percentages and how much is being sold into the US at a premium and at what price. However, like the company's cash position they insist on keep everyone in the dark, which holds investors back from buying. Another reason why there is an air of mistrust around FM's management.

BMN is not selling V into China at present, so these recent increases will not result in increased profitability. These increases really need to translate to Europe and, particularly, the US - yet prices have barely risen in those regions over the past 3 months. Until that happens, I don't see a significant re-rate.

"Maybe sooner rather than later if VRFBs and military spending both take off) What price BMN at that $125+ Vanadium price point? It's production will be multiples of the 2018 event. So we can expect the SP to be multiples of the 50p it reached back then.?"

It's not impossible. Look at the tin price - hit an all-time high of $45k per tonne last year, which was 40% higher than the previous high in 2011. This was due to a deficit in the electronics sector, specifically solar panels and lithium car batteries. It's an early example of the renewables sector driving a massive increase in a commodity.

I don't think Mantashe can be got rid of, otherwise it would have been done already.

It's the perfect market eatstocks, but energy minister Gwede Mantashe wants to line his pockets with brown envelopes from the coal industry and will throw every possible obstacle in the way of renewables and self-generation.

Forget the mini-grid, it's going to have no impact mitigating load shedding. First, its at Vametco, which is not affected by load shedding. Vanchem does not have the space for it yet - and how long would it take to get that up and running? 5 years?

The mini-grid is more about demonstrating a use case for VRFBs than anything else. But in SA, where nothing ever gets done due to corruption and bureaucracy, do you really think businesses will be generating and storing their own electricity anytime soon?

The mini grid is just another example of FM and BE using other people's funds as some pet project and patting themselves on the back with no tangible benefit to shareholders.

"Knows how to manage SA, has grown the business to where it sits today and has the determination and ability to move it forward."

Grow it to where it is today? With bigger debts than the market cap and the SP at a 5-year low? Bravo Fortune.

FM has zero leverage over what happens in SA. All sales are overseas, the country is a basket case and nothing will ever happen in SA to benefit BMN. SA is an impediment to BMN and that should be factored in to FM's forecasts.

If he can't turn this ship around in 2023 his position needs to be in jeopardy. He is also grossly overpaid and has enriched himself on the funding of others, not business growth.

It's obviously my opinion - no need to state that, but not as controversial as your overreaction is making it out to be. It means there is a general perception that the company does not have or is not showing the necessary skills to successfully fulfil its objectives.

Doubtless some of that perception is justified, some isn't, but that is the perception, which is clearly reflected in the SP performance. That's what FM needs to change in 2023.

After 3 years of disappointing RNSs, it's hard to trust anything Mojapelo says anymore. My trust in him is hanging by a thread.

The load shedding is an ongoing problem but has probably peaked and is baked in now. Future guidance has been downgraded (again). There really doesn't appear to be much bad news left in the tank, but Mojapelo always seems to pull a dead rabbit out of the hat.

There's an air of incompetence around BMN that needs to be significantly rectified in some form or other.

Adds credence to them being delayed buys. Reporting accuracy pretty awful on this website tbh - that's why it's free.

Pdub, because he doesn't have hindsight is precisely why he should err on the side of caution. What's so difficult about that to understand?

@Pdub "He published what he thought they could achieve and would have done if load shedding hadn’t got worse."

Well load shedding did get worse and he should have factored that into his forecasts. He just never seems to learn.

Nininvestor - I did, but the pandemic and load shedding has obviously thrown a spanner in the works. Both are obviously beyond BMN's control and it would be madness not to factor that in.

Tbh, the only reason I'm holding right now is because there are multiple factors in favour or elevated V prices, such as post-pandemic infrastructure spending in now reopened China, global increase in military spending and increased VRFB uptake, which may well already be having some effect on pricing.

Obviously, Post AGM I will be voting down any pay awards for CEO etc. In my opinion Mojapelo's performance isn't good enough and the SP is in some way linked to his poor performance. Reasons being:

1. Even without war/pandemic, I cannot see any way the Orion loan repayments could have been met by Nov 23. This smacks of careless disregard for company funds and shareholder dilution.
2. Announcing BE carve up 7 months ago and leaving it hanging in the air is simply abysmal comms.
3. Should have factored worse case scenarios (re load shedding) into financial models.
4. Telling shareholders that we should look to broker forecasts to see where SP is heading is risible and patronising

Although load shedding is completely beyond BMN's control, what they could have controlled is its predicted effect and how that would be perceived by investors. Rather than factor worst case scenarios into their financial models, they have continually over-promised and underdelivered.

Mojapelo is therefore entirely responsible for the appalling sentiment of this stock. Either he's incompetent or he simply doesn't give a stuff about shareholder value. Either way, it's not a good look.

BBN lol. Remember when he told us that BMN was virtually guaranteed to be localising the construction of VRFBs for Eskom? What a load of cr*p that turned out to be.

He's a trader who got lucky with BMN when the V price rocketed. Some people who get lucky recognise their good fortune, others start to believe their own hype and regard themselves as some sort of genius. Indeed, BBN's ego got so out of control he even started charging people to read his blog posts.

He's also duplicitous - announces the buys, not the sells. Typical AIM guru with zero credibility now.

As eastocks correctly points out the share trade data published here is completely untrustworthy and, to be frank, not worthy of anything other than rudimentary analysis. To claim it accurately represents MM activity, let alone their motives, is laughable.

No one of any intelligence cares about your trading lies or believes a word you write.