Member Info for cindercone

It was a good presentation in that FM didn't shirk answering difficult questions, but his answers weren't entirely convincing.

Director buys - fobbed it off by making it sound like there is no point in time at which directors could buy shares due to regulatory requirements. Fact is, board doesn't need to buy shares when they get given them for free

SP performance - claimed SP performance is closely correlated to vanadium prices, clearly not the case over past few months

Lemur - still clear as mud

SA listing - seems their initial claims for this were rather naive considering the information necessitated in order to be listed on JSA

IIs - FM's claim that company can't bring IIs on board because they will want a cheap entry point due to AIM volatility is not entirely convincing

More regular reporting - said it's something he'll look at, but didn't come away believing that we'll only ever hear information via quarterly updates

Ultimately, most of the above will be dismissed as along as BMN delivers on its expansion plans without any major hiccups. FM planted his flag in the sand by admitting company had to deliver now, but is well-placed to do so. Ultimately, BMN is not attractive to investors with short-term objectives (AIM), but long term remains highly attractive - especially at this price.

There was no insult, just a quiet reminder that we are all responsible for our trading decisions and should understand the motives of those who provide research. I'm pretty sure BBN was not offended and would agree 100%.

BBN's posts are very welcome but, as you suggest, nobody is posting for altruistic reasons - positive or negative, including myself.

Stay well.

Let's get real here. As much as I am extremely grateful for and often hang my hat on much of the research that BBN provides, it's not done for the benefit of other shareholders. Investors who make their research public are doing it to boost sentiment in the stock and thus the share price of their investment.

It's not an altruistic activity and it would be naive to believe otherwise.

He still in, name change impending to UnluckyLuciano.

Pdub, Covid is indeed one reason for missing a production target - all the more reason for the company to be cautious about making such forecasts. Same with kiln refurbishment. Anticipate problems, don't give estimates that are prone to being thrown off course.

This isn't rocket science. Underestimate, don't overestimate, and don't promise you're on top of things only to make the same mistake again. That's not opinion, by the way, it's fact.

Completely missing the point. Nobody doubts the negative impact of Covid, we're talking about forecasts. It's the recurring missed production guidance forecasts that are destroying sentiment and affecting trust in the company. When you no longer have faith in what the company forecasts, you lose investment and investors. If you are under the impression that the company does not give a fig about sentiment, share price or shareholders, you lose investment and investors. That's what needs to change - fast.

I have always supported FM and tried to examine things objectively when problems have arisen, but I'm afraid to say this production target fiasco is completely unacceptable. Sentiment has been completely destroyed and it's totally self-inflicted. I'd go as far as to say it's utterly amateur and has altered my view on FM.

Personally, I believe him to be a very good strategist, but abysmal at communications. He should concentrate on doing what he's best at, but should no longer be the 'face' of BMN and I believe pressure should be applied at the AGM for him to be divorced from that role and the company hire a director of communications.

I've heard they're setting up an exotic tea business with Fortune. Seriously, what a load of embarrassing, unsubstantiated crap.

One thing has become abundantly clear. The company needs a head of communications solely devoted to providing regular updates and improving sentiment in a meaningful and coherent way - Fortune is simply not up to it.

Largo and Glencore have individuals in those roles, why don't BMN?

On a more positive tone, comms continue to stink the place out - horribly, but being objective we also have to conclude that most of what's negative in the annual results has been due to things that are out of BMN's control - pandemic/supply chains. We can't seriously pretend these have had no impact on performance/guidance.

If we want the company to grow and take advantage of the VRFB boom and projected V price recovery, it comes at a price - borrowing, dilution, delays, setbacks. That's why investors got in at the pence - you can't have it both ways. Onwards and upwards. Hopefully this is the worst annual report we'll ever read, following one of the worst 12 months most of us have ever experienced.

All the more reason not to give guidance figures that are prone to falling short.

Pandemic-based disruption of steel supply chains is a valid excuse, but they should really have factored that into their guidance. In today's investor call Mojapelo was keen to mention that he's learned from his mistakes - albeit not that one.

v o x m a r k e t s

Replace asterisks with **********

https://www.**********.co.uk/articles/kiran-morzaria-ceo-of-cadencne-minerals-john-meyer-alan-green-560804f/

Two juicy quotes from Mr Meyer today:

"Results don't make attractive reading, you could forgive investors for saying I've had enough of this"
"Bushveld will be the Tesla of the VRFB space"

The link doesn't work. Looks like they've ****ed this up too.

@withlove

Go and ask those friendly fellows on the Telegram message board, they seem to be under agreement that Duferco have been selling in spades and posting the evidence to prove it.

"DBB - I think it is highly unlikely that Duferco will have sold any shares yet."

Unless I'm mistaken, the share register says otherwise.