Member Info for Daisan

Dryland,

When I stated that the financial crisis hadn't been allowed to play out, I in no way meant to imply that people hadn't suffered. Indeed they have. However, by not allowing institutions to fail we have entered a period of moral hazard which is a perilous place to be. If we had allowed failures then there would have been a very sharp period of pain but the situation would have been one from which we could recover. The actions taken did not solve the problems but rather kicked them down the road. They will come back to haunt us but will be much worse. In the meantime the actions taken since have ensured that the richest members of society have got much richer whilst the poorest haven't. The worst of all worlds.

Who knows? There is always a trigger. But for me the underlying issue is debt. The world is awash with it. At some point that will reach a tipping point and the world will retrench. The last credit crunch was not allowed to play out as a result of the disastrous policies pursued by Brown and followed by other 'experts' around the world. It will only be worse the next time around.

From a personal perspective, I feel that a financial crunch is inevitable in the not too distant future and it will make the last one look like a walk in the park. However, whether that is months or years is difficult to say. I certainly think that there is still time before this happens however and the prospects for world stock markets appear reasonably robust currently. I am, however, beginning to prepare for what I believe will be a great opportunity over the next 3 - 5 years.

Property is interesting. Whether Brexit knocks a third off prices I sincerely doubt. Property has moved in a very clearly defined cycle (of approximately 18ish years - 14 up and 4 down) for quite a while and one thing you can say for sure - prices rise cycle to cycle. I remember the property crash in the early nineties. It was painful but the house I bought in 1995 is now worth 4 times as much as it did then, not accounting for inflation.

Quite often you find that the opposite happens to the calls of the experts. As an example, as everyone and his dog is anticipating the pound to collapse after Brexit, I am reasonably confident it will rise, perhaps after a sharp initial dip. The reason for this is that if everybody is positioned for an event in advance, once it happens there is nobody left to enter the market, meaning there is only one direction it can go. Not to say that the pound will rise in the longer term however. There will definitely be a period of pain.

We should all ask the following questions before posting:

1. Is it true?
2. Is it kind?
3. Is it necessary?

With the optional fourth principal:

4. Post it anyway?

Need to think about Enterprise Value rather than Market Capitalisation Alphacomp. :-)

Well knock me down with a feather, somebidy has actually done something! They have bought a few shares. The CFO no less which I always take as a positive sign owing to their naturally conservative nature.

Took me a while to find the relevant post. So the suggestion is that we are now in a wave 3 with the wave 2 bottoming at 18.75p (ish). Endion's target for wave 3 is 37p I believe.

We will all hold you to that target Endion so it had better be correct to the nearest 0.1p! :-)

It is worth spelling it out again.

Based on CURRENTLY KNOWN information rather than assumptions, SP Angel estimate that BMN is worth just over a pound more than currently.

Their current target price is based on the ASSUMPTION that the Vanadium price will not maintain current levels and will fall dramatically.

It definitely means that pb940. It is obviously something that they have known for some time (and obvious if you plug in a number over twice their assumption) but they have taken this opportunity to go public with it. That could mean that they are setting things up for a very hefty upgrade in target price. Maybe some time in the new year?

That is a remarkable statement to make. Even SP Angel believe that the share price justifies over a pound based on the current situation. Presumably if the Vanadium price remains at this price or higher for the next few months they will look a bit silly if they don't raise their target price dramatically.

According to a Facebook post, this is currently ongoing. I presume that this is a continuation of the meeting from yesterday. It would be interesting to understand who is attending the meeting. Presumably from BMN's side, the senior Vametco management (not FM). Then we have the potential for direct employee representation, local union reps and national union reps. Ideally, we would want agreement across all to ensure that everybody understands what is taking place.

$20m

Which has been paid.

If it comes down to a difference between an analyst note and a RNS, you have to go with the RNS as it is the official medium of communication for the company to the market. Of course, these can sometimes be inaccurate, misleading or obfuscated but in this case it seems clear that the implication is the amount was paid.

May have some bad news for you there Wolfman_Jack..........

This has got to be one of the most bizarre situations on the market currently. You suspect that there are all sorts of shenanigans going on behind the scenes. The actual business almost seems like a sideshow in comparison.

In the interest of keeping this board alive, the news today indicates just how far and how quickly this company is going. Another few million in the pot and conversion price of convertibles lifted to 37p.

IN addition, the new non-exec looks like he may have yet more connections that could prove to be very positive for the company. These are the first moves in consolidating the gold producers in the region but once the first deal is done (and progress looks very positive), I suspect that this will pick up considerable momentum and I expect more deals to be done within the next 12 months. Whether that includes Kumtor is the question. My feeling is not but I would be happy to be pleasantly surprised.

All the while in the background there is a very extensive drilling campaign ongoing which is indicating that Tulkubash is part of a district scale system. It would not surprise me if more land along strike was purchased as we only own 6km of a much larger strike length.

In my experience the market reacts far more dramatically down than up. I believe that there was some research that suggested share price falls were highly compressed compared with rises which is stating the bleeding obvious for anyone who has been on the market for any length of time.

Of course, if the market makers need to close out a position on the market then the reaction will be amplified.

Apart from the fact that the market adjusts gradually to news when companies reach the size of Bushveld, the ownership increase of 27% was accomplished by consuming $20m so that has to be taken into consideration. If the EV could be calculated accurately, the current rise would be higher than 13%.

"Prices for Chinese ferrovanadium are expected to rise rapidly in the coming week".

So, perhaps $100/kg could be with us sooner than anticipated.