Member Info for Daisan

The company can be accused of many things, and I agree that delivery has been pretty poor, but being devoid of vision is not one of them. If anything they could be accused of having too grand a vision. Nevertheless, it is a vision that has been adopted by the likes of Largo which is some kind of affirmation.

Completely ridiculous.

I think that it was fairly clear that there was substantial buying yesterday. It is also clear that the price didn’t budge. Which suggests that the selling offset the buying (even though I didn’t see the relevant trades printed). If the buying is maintained it would seem reasonable to assume that the seller(s) will eventually run out of shares.

I believe that this was discussed at the time. It was not a permanent position - if you view his LinkedIn profile he is a consultant that works on short term contracts. It is hardly surprising that he left his position. More often than not it is the company that terminates as the remuneration tends to be higher than that of an equivalent permanent employee and succession planning is often part of the process.

I can't tell whether this is tongue in cheek!

You might want to research market makers.

I don't see why this would warrant a RNS. Nor do I think that it is necessarily cause for concern. He is an independent consultant and was presumably brought in for a year as an interim. There are many things to consider with BMN, I don't see that this is particularly one of them.

I have found that when large holders start to sell it is usually best to assume that they are going to completely sell out. Experience suggests that they generally do.

I am with Pdub on this. Duferco are not investors in BMN. It is not strategic to them. They simply hold BMN shares because that was the deal they could do to exit Vanchem.

Ursula von der Leyen Is the current President of the European Commission. Jens Stoltenberg is the NATO Secretary General. NATO doing business with Russia doesn’t bear thinking about!

It would certainly not be the first time that an institution only declares a threshold being breached when they have ceased their selling operation rather than when they have actually breached the threshold. I am not saying that this is the case here but it is common practice in my experience.

Really? According to the RNS we have 1,261,299,177 in issue.

I believe that was Myles (Aimchaos) buying based on the Twitter chat.

Trading has a normal feel to it today unlike many days recently. I can buy/sell 300k with just a 0.1p spread so availability and demand seem to be temporarily balanced but there is little doubt that the bias is to the upside today based on the trades this morning. Let's hope that those trades late yesterday were the final throw of the dice for our seller.

Gambitxjs,

I have had a quick look at your production rate estimates. It looks to me that you are using group figures for production tonnage but Vametco figures for production days. Is that the case? The maintenance was only for Vametco rather than group wide. I make the Vametco production rate about the same rate as Q1 2020, although the rate is probably a bit better as it clearly took a while to ramp back up to stable levels. The maintenance objective seems to have been to set the plant up for future improvements.

The real area of increase was at Vanchem which improved significantly. How much this is due to external factors, who knows? Last year was hit by load shedding but this year it is anybody's guess what is impacting the business. I am prepared to believe, however, that this is still on a growth curve.

The company has so many growth plans that I suspect the prospect of a dividend is remote. That said, should the Vanadium price rise strongly and remain at elevated levels, the level of free cash flow should be significant and there would certainly be room for a dividend. So, all eyes on the Vanadium price (as usual).

1.4GwH will consume pretty much all of Largo's annual output.

It is good to see that Largo is going full tilt into a market that BMN have effectively nurtured over the last few years. It can only benefit all the Vanadium producers if this level of supply is spoken for whilst at the same time stimulating the demand for VRFBs in the market. Keep in mind that BMN will benefit from Vanadium demand irrespective of who generates it.

That said, it is somewhat frustrating to see how much better Largo are communicating this than BMN despite the fact that they are essentially copying the model and how much cleaner their structure is than BMN's network of asset stakes.

But all of that will be forgotten with sparkling production numbers (maybe not Q1 given downtime), revenue and profit growth (on the back of rising production and Vanadium price) and VRFB sales (Enerox). BMN need to start making good news boring through consistency.

Glencore’s Rhovan operation in South Africa.

It says 12 employees will be affected so very minor (if not for the 12) and I doubt whether we will hear anything at all.

Genuine question as I haven't looked at BZT for a while. What is their exposure to silver?

rossannan,

Only just noticed this post.

It is not just Armenia. Their other area of operating is Kyrgyzstan which has just effectively gone through a coup! When both your operating areas have gone through such upheaval, it is hardly surprising that the company's share price is affected for both direct reasons (impact on operating performance in Kapan as a result of employees being conscripted) and indirect reasons (delay to financing Tulkubash development).

It is good to see that Kapan's performance has remained robust despite the conflict and EBITDA has gone through the roof in H2 (despite curiously low sale of production). Guidance up for 2021 and operations look to be entering a decent period of stable cash generation.