Member Info for Daisan

Endion, I think that it is a little more complex than that. Unfortunately, these things are largely forced down a black and white route (such as 'in' or 'out') whereas the reality is that people are dissatisfied with a range of things and want a solution. It is easy to shift the focus to being anti establishment and then anti EU. They are already doing this in Italy by pointing to the proposed prime minister as, effectively, an EU plant so I wouldn't be surprised to see the anti EU percentage rise considerably as the crisis unfolds. It could be viewed that the Italian President has judged the situation poorly and his actions have inflamed things further. He has and they have. But his alternative was not particularly attractive so he has chosen the less attractive option but delayed the resolution. They never learn that this always has a worse outcome but it is politically expedient. Expect an ongoing crisis, uncertainty and a September election that will be more 'populist' (why anyone coined this as, effectively, a derogatory term is beyond me). Spain is also up the creek and this is putting pressure on the powers that be in the EU and the ECB to 'do something'. Unfortunately, their instinct is to always overtly defend the EU 'project' which will, once again, be the wrong action. Subtle they are not. All of this will continue to drive a wedge between European nations. There will, no doubt, be another financial crisis in the next few years (and it will make the last one look like a walk in the park) and this may well be the straw that breaks the camel's back. Relevance to BMN? None directly but none of the above comes without upheaval in the currency markets (likely to be positive and negative!), commodity markets (likely to be negative but whether this is sufficient to dampen the long term pressures I doubt), world economy (negative), trade (negative) and, most directly, stock markets (negative). We live in interesting times.

I think that Soros has predicted 17 of the last 3 financial crises (to paraphrase horribly). I think that he may be right soon.

Well, you may have noticed the markets are a bit weak on the back of political turmoil in Spain and, more particularly, Italy. One day an event like this will cause the markets to go into a nosedive but I am not convinced that this is it.

Ah! That clears some of them up. Cheers Nick.

It was from Friday evening and looks like a sell. There have been a number of decent sized transactions today but I haven't seen Nick's turn up. I was surprised when he said that he got them but looking at the delayed trades there seem to have been more than enough to go around so the selling hasn't dissipated yet although it is difficult to tell what some of these trades are.

Well, there is no doubt that strong Vanadium prices will have an influence on VRFB take up. What that influence is, at what price it kicks in, etc. is unknown. There are many influences that argue for and against VRFB adoption with price being just one of them. Innovative pricing strategies can mitigate this influence but not remove it. However, companies such as BMN are actually in a position to modify the price of electrolyte to encourage the adoption of VRFBs and they have actually indicated that this will be considered. I am pretty sure that there are other companies who will consider doing the same. It is not beyond the wit of man to realise that a higher production profile associated with higher consumption within VRFBs will stabilise the price environment of Vanadium, resulting in lower volatility and higher multiples paid for Vanadium producers.

New posters! And a price rise. Will wonders never cease. Who knows, perhaps they will actually do something with the assets now. Perhaps.

Yes, I saw that on the other site. Good to see that things are progressing as expected and that the company is continuing it's maturation process. One thing I am pleased about here is the potential reporting of the Beutong assays. I thought that 200m intervals may not be particularly productive when what you are looking for are intercepts of 300m+! I have no problem releasing them as they come in but let's do each hole as a complete entity!

Also shakes his head in disbelief!

It's marketing. Companies tend to make these bold claims and then skirt around the issue when they are pulled up about it. I recently had a discussion around a company aiming to be the 'world's first vertically integrated vanadium company' and it wasn't BMN or AVL!

Perhaps because everything is not quite as clear as it may appear.

Exactly right JMC69

Ah! My apologies. I should read more accurately. Thanks for pointing that out BBN. I suspect that you are right Alfa that the form factor probably influences the price. Anyway, best compare like with like rather than make erroneous conclusions on potentially flawed information.

I think that some caution is in order as some figures have been bandied around. The key will be a feasibility study of some sort as the headline grades are not the only factor to consider here. I don't know the geology but it would appear that this is not a magnetite ore body. As such processing would be very different to Bushveld Vametco (or Brits/Mokopane). Whether this is conducive to support economic processing at 0.1% is unknown although I would suspect not at current Vanadium prices (even though they are quite high). However, I would also point out that Vametco's 1.96% grade is IN MAGNETITE. The reason why this is often stated is that the magnetite can be separated quite easily so a much smaller amount of ore can be processed. If you look at the Mokopane resource you will see that they state both in-situ and in-magnetite grades with the overall coming in at 0.68% and 1.5-2% in-magnetite. I do agree with BBN that any likely scoping/feasibility study will focus on the 90MT @ 0.4% Vanadium.

BBN, On the face of it, the prices quoted here are lower than I anticipated, particularly when compared to vanadium price .com (which has FeV prices pegged at $63/kg in China). However, it is clear that deals are just not being done at this price or at least very few. As such, the price is actually illusory. The commentary is far more important than the price and does suggest that it is bottoming. Whether this is a pause in the correction or decisive turning point remains to be seen (although there are several fundamental factors supporting higher prices in the future) but if it is the latter, we may well see a sharp increase as the buyers capitulate. Really interesting times, although not in the Chinese curse sense.

Yes. Not good. Which is why mining is so controversial in these areas and why the balance of benefits and costs has to be shifted to ensure that the environment is not destroyed, local cultures are not undermined, benefits are seen within the local communities, governments get adequate tax revenue but companies are still incentivised to develop the assets.

Greybuzz, I confess that I don't really understand what you are getting at here. What stock market flotation? What advantages for tax? What new licences?

It is not prescriptive. Yes, a 'double bottom' is very bullish and usually signifies the start of an uptrend but, whilst trends can be similar, they are rarely identical. A great example of non-conformism is IQE. That pretty much went on a non-stop uptrend for over a year. In fact, when sentiment is extremely bullish share price can do exactly that and remain technically overbought for months.

Steve is the sort of character that could be considered a loose canon by some but, personally, I thought that he was a great asset. I think that you have pointed out the only occasion when he made a statement on timelines that were missed. I do remember him jokingly talking about saying things he shouldn't but I don't think anything significant was announced. The company has a need for mine development skills but exploration of Beutong and KSK is still very important. It would be a mistake for them to focus on BKM development at the total expense of exploration. And, yes, this requires money above and beyond that required to develop the mine at BKM. For those that believe money grows on trees, the rude awakening will be a continuation of placings to major institutions to fund said programme of work.

How positively cooperative! Let's hope that the Department of Mineral Resources is equally cooperative when engaging with the mining charter.