Member Info for Daisan

Considering the last two trades (the only two published today) are at 8.1p and 8.0p, I suspect that the current bid/offer is not particularly accurate.

Yes and ticked up as well despite the fact that there is nothing in the published trades to suggest a reason. Nothing like a bit of obfuscation with lunch!

Actually, I would say Instagram is the platform of choice these days. My daughter (aged 13) and her friends use this pretty much exclusively and don't even think about joining Facebook. Snapchat is used but not as extensively.

Instagram is owned by Facebook.

I think that was the bulletin board equivalent of getting out for a golden duck.

It would seem (or should that be 'seam') that the sport has changed from cycling to cricket.

Well, it was 12p when the TG started withholding VAT repayments and the company is quite significantly different now in terms of capex, debt, etc.

Didn't they change the inheritance tax treatment of offshore trusts recently? I seem to recall that there is now some kind of stupidly complex valuation process around them now and they are not exempt but I may well be thinking about something else.

miner69er,

Are you recommending dying for tax reasons? Are you Hotblack Desiato's tax advisor?

Gambitxjs, I have no problem with people on this board stating that they have no wish to sell out at £1. That is, of course, their prerogative. I still suspect that there would be considerable interest should such an offer arrive this year but I am more than happy to be proved wrong should this result in a higher share price. As to the other point, I do not expect you to believe me but I have never traded BMN. I bought initially in October 2013 at around 3p and added when it started to rise at 6p before watching it drop below 2p. I bought more at 1.7p and continued to watch it drop further before buying again at 1.3p (unfortunately not as much as I spent at 6p). I have not bought any since but have taken out 4 times my original investment. I still have 75% of my shares. I am not looking for a lower price but eventually I am looking for a higher price.

Well, that 1m buy explains why it was strong into the close. Nice of them to publish the trade so quickly.

What do I know that is not true gambitxjs?

(I am not quite sure what I have done to you to receive the opprobrium implicit in the last part of your comment but everyone is entitled to their views.)

I suspect that there are many who are doing the same ArielArrow. Whilst I have a holding here I am certainly willing to increase this when the time is right to do so. Given the rise in gold over the last couple of months I am tempted to do so anyway but some movement on VAT would definitely provide a catalyst to increase the share price.

I suspect if someone came in with a £1 bid, for example, that this would have to be recommended by the board and would probably be approved.

UET have been very quiet on the funding front and the last (only) funding round I can see was the funding round you mentioned where Orix put in $12m in 2015 for 10% of the company. I presume that they would have required access to more capital in the meantime but I cannot find a record of this which suggests that it is likely (although note guaranteed) to be non-equity based.

Had a look through the last set of finals and the whole setup just doesn't seem to make sense to me as a business entity. The liabilities due within 12 months appear to be rolled over continuously. They are primarily (exclusively?) associated with the BoDs and KDR (who are controlled by pretty much the same BoDs).

Of course, it makes some sense as a retirement home but surely at some point entities outside of the BoDs must stop the charitable donations?

The sad thing is that there is probably a reasonable gold deposit here but there will never be enough money targeted at developing it to move beyond an exploration target.

By the way, do you have an idea of who actually holds the equity in UET? It would be interesting to have clarity on this.

I doubt that will be the case but a strategic stake would seem to be both likely and desirable if the stake is not too great to prevent a competitive bid.

I can easily foresee a network of strategic stakes between these groups. BMN own a strategic resource for a product that should see a very significant increase in demand should VRFB adoption take place as we all hope. But it is not just our hope, it is the hope of the network of companies mentioned here. No matter what their access to Vanadium as a resource currently is, it is likely to be woefully inadequate in comparison to the demand should VRFB adoption occur in earnest. As such, the incorporation of large scale Vanadium resources into the corporate network would not only appear beneficial but rather essential.

"...one should be careful what one wishes for because if BMN take a strategic position in UET, what is stopping Dalian Balong Holding Group doing the same or more with BMN."

And the problem with that is.......?

SquirtyFlower,

I am very keen on buying a stake in UET (indeed I and others suggested buying a VRFB company some time ago) and it would make sense to do this via paying for the establishment of a UET operation in Africa - everybody wins. BMN may be almost uniquely positioned to do this having cash on the balance sheet, a highly profitable ongoing business addressing the needs of the steel industry and the inside track on (and ability to influence) the emerging VRFB market in Africa.