Member Info for cindercone

How about this gem from loudspeaker:

Feb 6th 2019: "Just sit tight and don't panic sell, fundamentals always win."

Yet you, apparently, sold 1.4m.

You're about as trustworthy as a £3 coin.

@loudspeaker "I bought millions of shares in BMN under 1,5p .and sold 1.3 million for 41p."

41p was hit several times between Nov 2018 and mid-Jan 2019, yet looking back at your posts you were ramping the entire period and never thought to tell anyone you sold 1.3m shares for 41p?

You're either a snake or a liar.

"According to our brokers, there does not appear to be any stock-specific news that could explain the decline in share price; rather, it appears to be a reflection of the market as a whole. Concerns have been relayed to management, and we are fully aware of them."

Looks like Viljoen is selling his shares in Afritin too.

@jelly11

Having an opinion on BMN is one thing, telling someone that they're hiding behind their cancer diagnosis to elicit sympathy for their views is another. Be man, not a toad, and apologise.

There is a confluence of negative factors affecting the SP. Namely, the pandemic and its lingering effects, the war in Ukraine + global recessionary pressures. Not only has the AIM market lost 25% of it's value since Sept., but Duferco dumped 65m shares and it seems recently departed director Anthony Viljoen is flogging another 12m.

Make no mistake, the SP is an absolute disgrace and BMN's comms have somewhat played into that. It's dismaying that shareholders are often left to try and piece together the company's intentions like it's a game of f*cking Cluedo. IMO, Fortune is simply not up to the job of being a spokesperson for BMN. His comments regarding the SP performance are highly patronising and the board needs someone more market savvy to fulfil that particular role IMO.

Future is still very bright. BMN is profitable. Costs will drop, production will increase. Whether BE are involved or not (Nikomarov appears to be utterly hopeless), VRFBs will drive huge quantities of vanadium out of the steel market leading to a deficit and sustainably higher prices. The drive for renewable energy is not a hope, it's a must.

BMN just have to get through this period. At some point the confluence of negatives will become a confluence of positives. If I'm wrong, I lost my gamble and will blame no one but myself.

@Pdub "The market needed to know."

Market needed to know what? They haven't explained anything.

You wouldn't declare a placing then leave it hanging as to why or what for?

Don't be ridiculous Pdub. If the board wants to announce it is carving out BE it should simultaneously provide the full strategy behind its thinking. Just putting it out there and leaving it hanging is absurd.

What was the point of the board telling us they intend to carve out BE if they're going to leaving the question open for weeks, possibly months? Yet again, abysmal comms with no regard for shareholders. This is shaping up to be one the stupidest communications they've ever relayed.

I certainly hope you get that satisfaction Pdub - in spades.

I admire your defence of the board Pdub, but BMN is not successful it's been loss-making. There are many examples of companies on AIM that borrow money or utilise shareholder's cash to build a business then go bust.

I'm not suggesting BMN will go bust but, to me, a successful business is a significantly profitable and sustainable business and I don't believe CEOs should be rewarded until the business reflects that.

I've no doubt FM works extremely hard, but shareholders no doubt work hard for their money too. I already feel his basic pay is excessive, therefore he should share in our suffering.

If BMN execs didn't want their pay to be tied to shareholder returns, they shouldn't have floated on the stock exchange.

@Pdub

Shareholders are losing money. FM isn't, he's just not getting more money on top of an already exorbitant salary IMO. Therefore, my sympathy is in short supply.

When he fulfils his promise of creating a highly profitable, sustainable business capable of generating substantial shareholder returns, I'll be more than happy for his remuneration to reflect that.

The let down has been lack of comms and some shoddy explanations and false promises regarding the appalling SP performance.

The board can be patronising at times and need to do more to deliver tangible value for shareholders. In light of that, they should "suffer" - in Fortune's own words - along with shareholders and not receive bonus remuneration.

As for delays on various projects and sales taking a hit at various points, the impact of Covid could not have been foreseen so I'm not going to blame them for that.

I’m surprised that nobody has commented on the conference call today. It appears that BE is being 'carved out' due to its capital requirements impinging on BMN's ability to fully focus on mining operations/growth.
Market perception is a clear problem as institutions struggle to value the correlation between BMN and BE, particularly as BE expects to be viewed as a green company. No rebrand is going to be able to successfully integrate the two companies.
FM mentioned that BE's float will not be comparable to Afritin, rather BMN will remain a closely linked investor. Regarding Eskom, it appears BE has not won any tenders because CellCube simply cannot deliver on Eskom’s delivery requirements. It seems BE future lies in attracting VRFB manufacture through the employment of the Vametco mini-grid.

In my view that’s good, as Eskom is a total basket case and any positive association would be mitigated by that crooked brown envelope taker Gwede Mantashe overseeing the DRME.

Interestingly, FM mentioned in a response to John Meyer that BMN has received offers from third parties for some of its vanadium resources. I wonder if Mokopane, for example, might be sold off to the Chinese at some point. Unless the buyer wants to fork out $300m for a plant, it would still have to rely on BMN for processing and does BMN really need such a huge resource when a large portion of its future vanadium output will be recyclable?
FM was thankful to ‘loyal’ shareholders and recognised that the selling of CLN instruments (Duferco) is pretty much the cause of the abysmal share price performance. He mentioned that various analysts point to a much higher SP valuation, which is nonsense as we know analyst valuations have little to no effect on SP performance in the real world.

Ooh, the messiah has arrived. Bow at the feet of the great Alfachump - he of bald head and setter up of private Telegram group, where he is the only member, worshipping at the alter of his own tripe.

He who had 14m shares but couldn't afford 100 quid to keep Bushveld Perspective running after BMN pulled the plug.

Selling 25-50% of what? An idea?

Cutting off BE certainly simplifies what has become an extraordinarily complex business model. Let's not forget where the value lies here - BMN will be the cash monster, not BE. It's BMN's electrolyte plant, they'll get the premium.

The only thing that's changed is the perception of BMN as a 'green' company - but is that really possible for a miner? You can't put lipstick on a pig, even a huge, cash generating pig.

VRFB growth will continue to elevate global V prices irrespective of BE's performance as a standalone company. Its not just BMN that will take huge quantities of vanadium out of the steel sector to sell at a premium, but all V producers moving into electrolyte manufacture, incl. Largo and Australian Vanadium etc.

The perception of BMN has slightly changed for shareholder, but not the market because they've only ever seen BMN as a miner anyway. The cash generating vision remains completely intact.

The pipe dream of Bushveld Minerals being a green miner is over, although it was probably a never realistic proposition. Vertical integration is still a thing for as long as BMN owns a substantial holding in BELCO, Cellcube and BE.

At least the company won't be wasting a $100k on Nikomarov's salary. Will have to earn his own keep now.

Because the V price has been healthy over the last 6 months, the company is profitable and production costs will significantly lower and output significantly rise. Electrolyte sales will come at a significant premium and help create a V deficit that will stabilise if not increase the commodity price in the future, alongside the growing demand for VRFBs elsewhere. BMN will not be the only company selling electrolyte.

As Mojapelo has already explained, expansion to 8,000mtv will not come from dilution but capital, hence why it will be slow and staged.

Orion must be pretty peeved too. Can't sell until 17p. FM is not just destroying PI value but II value, no wonder he can't II's on board. It will turn eventually, but for the board to expect performance-related bonuses is simply ludicrous.

Thanks for the debate Pdub, hope you're doing well at the moment.