BMN today30 Jan 2023 19:37
My view on this investment has not changes much.
On the investors front I think FM has made some effort to liaise with their PIs who are by far their greatest supporters and I welcome this. The investors meet was a welcome change from the focus on analyst calls after results.
The load shedding situation won't get better and will impact other parts of the business. I have been searching how this might be impacting exports and port capability not much there so maybe nothing to worry for the moment. I have emailed the port in Durban for information on the matter last week and I ma still waiting for a reply.
Having an electrolyte plant is a game changer. A few trolls bang on the drum about not having orders yet. You cannot sell what you don't have! BELCO which is staying with BMN post BE breakout (unless I missed something) will build inventory and buyers will come once we have proven production. Inventory is a necessity, I am not expecting any export of A electrolyte until late Q3 early Q4 but we will get updates on the inventory growing and potential client contracts before shippements are made.
Back on the load shedding, government relaxing rules is a great step forward. Especially considering BMN is insanely unpopular with its residential neighbours. If it starts producing, storing and selling energy (cheaply) to local communities this will be a double win.
Many scream of potential dilution. As junior minors go BMN has been a star in terms of avoiding dilutions (well at least for the time I've been invested here), compared to other players even those who probably need it less than we do.
I am anxious about Q4 because let's face it, except V rises pulling us up we haven't had many RNS taking credit for SP jumps.
I'll keep being impartial and being hated by both rampers and derampers.
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