This was posted on LinkedIn today29 Sep 2021 21:45
A truly shocking decline in this business based on Share Price performance, production growth, project delivery and targets hit. The latest delay is now the Vanchem expansion plans. Management have over promised and under delivered. Instead of focusing on their own business, cash and management, time and money has been spent bailing out other companies. They took their eye of the core business and investors are paying the price. They are chasing their tails and a loss for 2021 is now a distinct probability again. It now seems inevitable that the company will need to raise cash causing more dilution for existing shareholders. November brings new pressures with the Duferco CLN payments and shares to be issued. The Vanadium price is reversing downwards despite expert predictions and the structural deficit.
Where is the BE CEO? Where are the VRFB projects? Where are the electrolyte rental contacts? Where are the benefits of the vertical integration business model?
Itβs time for the CEOβs of both BMN and BE to put their investors first and instead of clapping other companies successes start to put some meat on the bones of their businesses.