Member Info for Lindon

@Valient1000 , yes, I remember col45 from the early days very well. The names are an obvious similarity but there isn’t any relationship between them other than that.

You’re correct in saying colt45 had contacts with the orange trust group. It was him that told me that contarary to popular opinion on this bb. Yellow Dragon who were thought to be Chinese group of investors, It’s they who FM brought on board ton help BMN fund help fund the purchase of Vametco buy from Evraz and later became Oak Trust whose investment vehicle is Orange Trust - were a group of mega wealthy S.A investors and nothing to do with China.

We now know by virtue of the recent MUST RNS that there is also a tie up between Arcacia whose benificial owner is Barromeo and Oak Trust. The aristocratic Borromeo family were said to be the original founding members of BMN. I’ve always believed FM was just the public figurehead for the group. FM’s been removed from the spotlight here - but it wouldn’t surprise me if he’s still closely involved in some way.

@IselworthSpy … nah, not aggrieved, just amazed at the convoluted secrecy that still seems to be playing out here. Even SPR are shrouded in secrecy - apart from the press release that came out with their involvement with all this, no- one has been able to uncover anything about them, no- one has a scooby who they actually are - they’ve come out of nowhere. Absolutely typical of the secret society that has always surrounded BMN since its inception. A story right out of FM’s historical scrap book in fact.

“But what this has to do with FM, i have no idea”. Dunno either - all above my pay grade - but ive never had any doubt that Borromeo apart from Arcacia being his investment vehicle is also a member of Orange Trust.

FM in conjunction with Borromeo AND (originally his wife whose shares he took over) - and Oak Trust/Orange Trust (who were said to be a private group of very wealthy SA investors) were the founding members of BMN. I’ve no doubt at all that this group were also the ones behind the mysterious consortium of four that FM said didn’t want to be named - that invested $30 million to increase CellCubes production capacity. That group are thick as thieves! I can’t see them giving give up all their years of best laid plans very easily!

One saving grace in all this - CC is no fool, he will know all there is to know about the previous history and involvement of those guys - and he’ll recognise any attempts at a stitch up - if there is one in prospect. - from 20 paces!

I’m probably getting too neurotic but I’m even beginning to suspect this convoluted incestuous deal making has a certain ex ceo fingerprints all over it!

Nah couldn’t be - could it?

All seems very incestuous. I’m wondering where Garnet fits in all this!

Mustang Energy PLC Form 8.3 - Mustang Energy PLC

Source: RNS Regulatory News

RNS Number : 9474D

Mustang Energy PLC

21 February 2024

 

Mr Jose Roy Hernandez Borromeo is therefore treated as the ultimate beneficial owner of Acacia Resources Limited.

Contact name: Mark Fouracre

Director - Oak Trust (Guernsey) Limited

 

Emile Thompson

Assistant Manager - Oak Trust (Guernsey) Limited

Weren’t Orange Trust said to be the investment vehicle for Oak Trust?

Assuming, receipt of final funds by 14 March 2024, the Company will have sufficient working capital until it receives the consideration due to it following the completion of the sale of the 50% interest in Vanchem and its 64% interest in Mokopane.”

How can they say that - do they know when the sale side likely to be completed? We still haven’t sold anything yet!

Were SPR’s funds for that side of the agreement arranged to be coming from the same capital backer source that are now in default?

Are Acacia in fact those capital backers?

EU and US FeV price parity

ON FEBRUARY 22, 2024 BY ALICE AGOOS

A US steel mill reportedly bought 10 tons of FeV at $12.60 per lb.

Given that this was one of the few known spot sales in weeks, the price appears to be a good market indicator.

European FeV prices are around $27.50 per kg at a virtual parity with the US.

*were applied!

Yep, but mm brkes now applied!

Getting out of CellCube and Mustang is one thing - yep, non- core and provides some desperately needed cash.

But he’s openly admitted that he’s going to refuse to provide any more funds for an already completed and ready to go electrolyte production facility - imo that is quite another.

Unless it MN puts some substantial signed and sealed contracts for electrolyte supply where his mouth is - the decision will be taken to dispose of ELZ factory at the end of next month. That is what CC has said he will do.

Imo - he obviously see no long term future for V based electrolyte in S.A. - the African continent as a whole - that alone is over 50 countries right on his doorstep! - OR the ROW.

If MN comes up with the goodies in the next few weeks - maybe he’ll change his mind, but I’m not holding my breath!

What “tight supply” ? We’ve been hearing that for years too! V price is dirt cheap because there is no demand. The only demand in the ROW will come from the steel space if the global situ improves - that is what CC has made abundantly clear he wants to concentrate on and that’s why he wants out of the energy storage space.

Outside of China the energy storage space for V is no longer worth the candle. Imo, it has to be admitted that V has lost the Lithium disruption battle in the ROW.

Huge energy storage projects are being planned and even now, starting up all over the globe - even in the current global climate but V is very noticeably - out of the picture!

Imo - it’s something that CC - coming in with new eyes, has fully recognised and why he’s setting the company up to maximise its core V production existence and drop the involvement with batteries.

Yer, and we know who that is!

Yeah, shame such articles about how many zillions of GWh are planned to be going ahead in China. - and there have been numerous in a similar vain over last few years - don’t have and never have had, any impact on V demand or price.

Instead China stuck a 13.5% import duty on it - they obviously don’t consider they’re gonna need our stuff and so we so no longer export a bean to China.

And despite all the hype - there no current signs of those Chinese guys buying it up like there’s gonna be no tomorrow whilst the V price is at rock bottom in order to supply those zillions of expected GWh’s.

Maybe they're waiting to make a rock bottom offer for our mine so they can supply themselves with as much as they need. Maybe it’s the Chinese who are - behind the scenes - the ones responsible for SPR’s missing funds but want to just keep BMN ticking over with a drip, drip policy until the time is right to make their move? Just a thought!

Very sad news, RIP Pdub - good stuff BobbyAxe.

CC has gone down the road straight as an arrow in all respects. He’s got a call booked in at 4 pm with SPR today to get the latest news on the funding issues.

Main takeaway for me also is … he’s put Mikhail Nikomarov under severe pressure to come up with some electrolyte orders. Not a penny more will be invested in Belcro unless Nikomarov puts some orders where his mouth is!

Https://theoakbloke.substack.com/p/bmns-q4-update

Under the terms of agreement, the Orion financing was clearly stated to be conditional on the raising of the $12.5 million from 3rd party sources- its possible imo, that Orion have now confidently gone ahead with this due to having been given an assurance that what is owed will be made good from other sources (Orange Tust?) IF SPR do eventually default.

Yep -and with the CLN due to expire tomorrow, they have to let the market know the results of those ‘ongoing talks’.

Integrated primary vanadium producer Bushveld Minerals has entered into a conditional agreement to refinance its existing convertible loan notes with Orion Mine Finance, following the term sheet agreed in May this year.

The conditional agreement extends the maturity date for Bushveld's existing convertible loan notes to January 31, 2024, from December 21, this year, and refinances the convertible debt obligations of about $46.9-million.

There hasn’t been any assurance or proof that the rest of the funds outside of the equity issue side of the equation have been yet received. All we know for sure is they have got c.$8 million plus the recently paid $2 million. It is wrong to assume that the company are in receipt of $25 million from SPR. That may or may not be the case!

The best advice any investor can play by is - Assume and presume nothing - and trust no- one!

RNS 5587Y 3/1/2024

“All other funds raised as part of the US$18.4 million equity issue have been received, other than funds due from Acacia, which, as previously announced, are due for settlement on or before 28 February 2024”

“We also need V to play ball on top of everything else”. Yep, and there might lie the root of the cash hold up!

Could well be what’s behind a reconsidered thinking on the part of their capital backers - V playing ball doesn’t look like to be something which isn't going to happen anytime soon and any return on investing more funds into this project is looking very unlikely..

There is obviously a very real risk the owed funds are just going to get used up on keeping the lights on at BMN and so the backers have decided to put a stop to throwing good money after bad!

If that is what’s behind the cash hold up - the only alternative provision of the required funding might come from the die hards - like Orange Trust - it has to be very doubtful that any Institutional outsiders will now want to be interested in a stable but low priced loss making mining environment for V - which looks to continue unless general global conditions improve quite drastically - and that's looking extremely doubtful!