Member Info for cindercone

Pdub, it would be good if you could provide evidence before making claims such as BMN has been hampered by Covid and a volatile V price. First, in what way has the company's operations/plans been hampered by Covid in a meaningful way? V prices have not been particularly volatile since Covid. When the pandemic started in Jan 2020, China was $28.9 and it's hardly fallen below that level since.

Regarding Nikomarov, to say that my “aggression” is based on what I don’t know is a classic straw man argument. We can only draw conclusions based on what we do know, not what we don’t know. Claiming that NDAs in relation to Enerox has had a time-consuming effect that's impacted Nikomarov’s ability to run BE as he would like is pure conjecture, and besides, who signed the disputed deals in the first place?

As for production targets. Because the company continually missed their targets, I’m now supposed to be excited that they hit them? A CEO on a £500k salary should have nailed production targets from the beginning and not be congratulated for stabilising his own mess.

As you know, expansion has come at massive cost to shareholders, not Fortune Mojapelo – he still gets his free shares and salary every month. The day the benefits of expansion translate to significant profits and a significantly higher share price is the day for back patting, not before.

Nobody denies there is a massive opportunity within the VRFB/vanadium space, the question mark is not that, it's whether BMN's management has the drive/competence to exploit the opportunity, drive the business and maximise shareholder returns.

At present the answer is no. They continually miss targets, move at a snails pace, rarely communicate anything - when they do it's through channels that are completely insignificant to the public - and show no interest in shareholder value. At present, they're just idling away on fat salaries with no seemingly no interest in hitting time scales/targets. They're so overpaid, there is no incentive to deliver value to shareholders. And to be honest, Mikael Nikomorov's performance at BE is more comparable to a sixth form school project than a profitable business - he's starting to look a total joke.

I'm also concerned at BMN's focus on South Africa. Tying up with Eskom, for example, would be a bad move. The utility is a PR disaster that's mired in corruption. Nothing ever gets done and I doubt BMN would ever get paid for services rendered. If that's their route to exploit growth in the VRFB industry it will never happen with brown envelope scum like Gwede Mantashe running the DMRE and throwing every obstacle possible in the way of the renewables industry.

That's why BMN has everything to prove in 2023. Fail to meaningfully progress the business and the board needs to be kicked out.

@swedenisalright

I'm well aware of the consequences of supply/demand on pricing, but BMN has no control over the vanadium price, all we have are their predictions of what will happen in the VRFB space and how that will affect demand in the future. If BMN cannot make good on their projections, supply/demand theories are worthless, especially in an industry prone to wild price fluctuations amidst an unenforced regulatory environment (China).

The current V price speaks volumes. In an environment that should play beautifully into the hands of producers, the market has adjusted and the price has tanked - China is now lower than it was for most of last summer. So much for predictions on here of a monster re-rate in vanadium prices due to various economic and geopolitical circumstances.

Instead of hype, we need information, yet BE hasn't issued an RNS in 6 years. They can't even fulfil a promise to keep shareholders informed from 6 months ago.

*capacity

Duh. If you can't increase capacity, demand is irrelevant. Obviously BMN is increasing demand, but it's very slow and has come at a cost to shareholders, hence the seemingly endless stasis and frustration. In terms of BE, we have no detailed plan to show how that demand will translate to income - just delays and silence.

If we sell all we produce there's no room for extra demand, stupid.

Avacta is no different to any other share. When there's a news vacuum, people sell. It's the way of the modern investor - no patience, out for quick money and treat trading like they're down the bookies.

"They consider themselves "supporters" like BMN was ManU."

That's because they're emotionally invested. The No. 1 way to lose all your money on the stock market.

Telegram board knows nothing that this board doesn't. Nothing wrong with this board either - there's no 'trolls' to speak of and the only reason there was any was because Alfachump and his side-chimp Sanchez wound people up and tried to ban everything that moved.

Seems to me, he was the problem. There's also an ignore button for adults who know how to use it.

No one else seems to have the forum problems Alfachump does. Wonder if he's ever stopped to consider that he's the "nutter".

I sincerely hope not Pdub. Despite my pessimism and the fact we rarely agree, I hugely value your contribution.

I'm more than happy for you to be smug Pdub. Let's hope you're a lot more smug in both the near and long-term future.

I can confirm that the date of 04/03 is correct. Therefore, it looks likely that Duferco will very soon be out.

Seeing as, at the current rate, Grafton won't be out until September, I'd say my prediction was fairly accurate. You also have to consider that BMN tell us f*ck all about anything, Bushveld Energy is non-existent and the V price has been dropping like a stone, so it's hard to be optimistic about the remainder of the year with these overpaid individuals in charge.

I will of course revise my opinion when I receive evidence to the contrary.

Hope you're doing okay CC

Maybe I'm the one who should feel smug, as I said back on November 16: "Don't see much happening here until 2023. IMO Duferco will hang over the SP like a dead weight, selling into every rise and the short will stay open until they're gone."

Hopefully Mar 4 is not a typo. If they still have 35m left to sell, there is months of suffering ahead.

Companies issue shares to investors in return for capital that's used to grow and operate the firm. "Operation" includes director remuneration. That's why shareholders can vote against salary increases/bonus shares or raise a resolution to remove a board member.

@Pdub

If you you want to take other people's money to grow a business and pay yourself an exorbitant salary with it, you better deliver shareholder returns. It's really as simple as that.

If they want to demonstrate how they're actually progressing the company - other than missing every target they've ever set - then they need to communicate it. If they don't communicate we can only assume they're failing to drive the business.

So, how do we vote against board remuneration?

Would have been nice for BMN to inform us of the BRR Media Operational update via Twitter or their website. This is just another example of their disdain for shareholders and totally inadequate communications.

When an operational updates starts with "Total Injury Frequency Rate" you know what follows is going to be equally moribund.

Fact remains they're not doing a good job driving the business and confidence is rock bottom. All I'm seeing is a never-ending stream of setbacks and delays. Performance is underwhelming on every front.

The board should not be handing out bonuses or free shares this year, that's for sure.