Member Info for Moneymaker2015

To be fair to Steve, the accounts do justify his comment:

2022 Interims - Loss of $3,212,429
2021 FY - Loss of $42,113,413
2020 FY - Loss of $31,097,391

Given the Vanadium prices were higher in H1 2022, it’s likely the loss will widen FY 2022. Although, the sale of its interest in VRFB Holdings will soften the blow and may with some luck even provide a small profit.

The turnaround point for BMN will be when Mokopane is producing. It will significantly reduce their tonnage costs and provide a contribution to overheads. Truthfully, it does look like a decent bargain at the current mcap. The only problem will be if they need to do a raise whilst the share price is where it is. Although, either way, it does appear fairly low risk if anyone was to get in at the current price.

It’s a decent positive update. As mentioned, depending on your perspective, Q1 could have either meant in 3 weeks time or 3 months time. Either way though, it’s either on or ahead of schedule, which is a top priority when heading into production.

I wouldn’t expected it to have much of a positive impact, it is a placing afterall. Although, with the BoD putting this much in and at this stage, it says to me that they’re anticipating things to move forward in the near future. I’m actually surprised a few more people haven’t bought in this morning though. Had I not already been invested, I would’ve seen this announcement as a green light to take a punt.

My thoughts exactly. Combined, it’s only 14m shares and out of the £230k, £80k of it was by the management. Plus, at 2p it’s not even discounted.

It’s definitely a volume of dilution that can be stomached and demonstrates the BoD are well behind the projects.

It’s unlikely that EUA would de-list and move its HQ, primarily because it’s looking to offload its assets in Russia anyway. Had they not been looking to sell the assets, that option would be more feasible.

In terms of sanctions; being realistic, all that will happen is that supplies will go to a non-EU country and from there will make its way into the EU. On top of this, there’s the possibility that supply to the EU will be reduced, demand will remain high and metal prices will increase globally.

Welcome back Ronald! It’s been a while since we’ve heard your attempts to de-ramp the stock.

The BoD has openly stated many times that there has been little progress over that last 2 years, which was predominantly Covid related. They did however, secure 100% of the mines, which was a huge move forward.

It’s amusing that you’ve shown your face again, now the BoD have finally started returning to South Korea and things are finally progressing again.

I’d been wondering lately if they would pursue that option. They only needed circa $5m to get both Kochang and Gubong up and running, so for Kochang alone I’d imagine only $2-3m. You would like to think they could gain this sort of sum with a farm-in, considering most of the exploration at Batangas has been done already.

By the “false economy”, I was talking about what many other non-revenue receiving companies do. Rather than announce they have insufficient funds (as BMV has done), many companies, mining juniors especially, raise beforehand, so there is always “sufficient funds” for activities going forward. All it actually means though is a raise has already occurred, as opposed to May likely occur.

In terms of BMV’s accounts today, there’s is neither anything of particular note, nor risk, that we weren’t aware of previously. The timescales on the presentation however, are worth noting, in terms of bringing in revenue.

As Bunion says, it’s common in many companies that aren’t bringing in revenue. However, to avoid the issue, many do raises beforehand, so there is always “sufficient funds”, which is actually just false economy.

The “insufficient funds” is not unexpected though. At the previous “burn” rates, it was anticipated that BMV would run out of cash this year, and until there is funds “in the bank” the company has to account for the projection going forward. You’ve also got to keep in mind, BMV’s cost will likely be higher than usual over the next 12 months, as it moves toward production.

On another note, it’s good to see the proof of concept will only be 9 weeks, once the permits are in.

Only just seen this now. Nice little surprise on a Thursday morning. Glad I took a punt on this one.

It’s an odd one, they tend to linger around stocks with higher volume. I’d anticipated the selling-off to begin ones the share price had moved-up slightly. Unusual for it to be done now when the price was already rock bottom. Not that it changes anything in the long term.

Going from 4% to 6%, now that’s a considerable increase. Interesting that it’s Spreadex Ltd, I wonder if they are expecting something we aren’t aware of?

Yes the 1.5m Oz is welcoming, that’s between $1B-$1.5B after costs.

I thought the same thing Re: Proof of Concept. Surely now they have an idea of when this will be complete. Shame the 5,000 oz production is to be after Proof of Concept, I thought it may have been part of this figure.

Yes there’s a big risk in waiting for another buyer as the current one may pull-out and nothing further may come along. The previous US$105 million offer is looking attractive now. Whilst the payment terms weren’t the best, the end value was 3 times the sum, just spread over a long period.

Yes I’ve been hoping we might see a bit more lately. Whilst there’s a few items that will take a while until we get an update eg the permitting, it would be nice to be kept in the loop more with regard to operational tasks on site.

Very interesting that they have appointed a Director who’s background and speciality is in Mergers and Acquisitions. I thought they may do this later down the line if they were to sell the assets on, not at this stage in the game though. Makes you wonder what the intention is behind the appointment.

Yeh only just seen this now, a nice little surprise for a Wednesday afternoon. It paves the way for future positive news too.

No I was in the Army, but had done a couple of different All-Arms courses. I was a “badge collector” lol.

Outofreach, that’s made my day already! It’s almost like a completely different language, yet everyone seems to know what you’re talking about.

“Walter Mitty”.

Lol, I have heard anyone being called a “Walt” for a few years. I remember everything used to described as either “Gopping”, “Honking”, “Hoofing” or “Howling”.