Member Info for Pdub

… across different categories ranging from 0.74% to 2.35%, and including European FerroVanadium.

https://www.asianmetal.com/VanadiumPrice/Vanadium.html

… across a number of categories including … European ferrovanadium.

The rises range from 1.89% to 2.88%.

https://www.asianmetal.com/VanadiumPrice/Vanadium.html

It would appear that some of my recent posts have ‘agitated’ a few people so let me clarify a few things.

Firstly I was responding to a comment by IsleworthSpy (who I respect) that until 2016 BMN was regarded as an iron ore miner. I provided factual supporting evidence that from 2013 onwards vanadium was increasingly present in the Company’s plans. That was also confirmed in a number of conversations that I had with Fortune during the period 2013 to 2017. At no point did I refer to more recent years or make a general defence of Fortune.

Second, I pointed out that had BMN stayed with iron ore and not pursued vanadium including the purchase of Vametco then the many shareholders who either took large profits in 2018 or had that opportunity to do so but did not take it (including me) would never have had that chance to profit. This is factually true.

Third, I took out my original stake in 2017 giving me more or less free shares. This is true. However I would have been far better off had I waited until 2018 and done the same or sold out in 2018. I did not do either. No one to blame but myself for bad decisions. Not once will any of you have seen me complain about this. My responsibility.

Next point. Like many I bought more shares on the way down in the 40’s 30’s and 20’s. With hindsight not the greatest of decisions and that increased my average (still in single figures though.) Again not once have I complained. My decision to buy. My responsibility. Perhaps the fact that my fight with cancer began on 01 January 2019 (Happy New Year) might have clouded my judgement but suddenly money was less important to me. While the share price was falling I underwent major surgery followed by a long period of recovery and then very unpleasant chemotherapy lasting most of that year. It certainly changed my priorities. However like most I am significantly underwater and share the same concerns as many reading this.

Finally since Craig took over I have bought more in the 2’s and 3’s in order to reduce my average and in the hope that he is able to restore the company fortunes. Sadly as my cancer advances and taking into account the time forecasts that some have posted here it seems increasingly likely that I will not live long enough to benefit from this. Again you will not read of complaints from me. That’s life (irony)

If people wish to hurl insults my way that is their problem not mine. Life is too short for me to waste time on these nasty people.

I have never written anything about BMN that I did not believe to be true at the time nor will I.

BobbyAxe take a hard look at what I actually wrote and try to connect with your brain.

Another one for the bin.

Filtered

Blah blah blah Faramog. Quit playing the man and focus on meaningful stuff. Or do you just enjoy bullying and insulting.

Got no more time for you. Filtered.

Hope some found my posts interesting this evening. However that’s all from me. Back to watching from the sidelines.

Night all

Expected you to put the boot in to anything I write Faramog so forgive me if I ignore you. I was dealing with facts around the period of 2013 to 2018.

I will however deal with your point about Mokopane. As you know the cost of developing a mine and processing plant I believe was expected to be around $200 million which was not likely to be achievable at that time by an explorer like BMN.

But again as you know Vametco became available and was acquired for a very good price. A fully functional plant and mine, and the debt was paid off in less than a year from sales of stock and product. Again as you know there was no longer a need to develop Mokopane

One final point. Much work on the vanadium project was initiated in 2014 including the scoping study and the PFS.

Plenty of evidence to demonstrate that vanadium was an important part of the company’s plans long before 2016.

I realise that it is fashionable to bash Fortune for just about everything but without that crucial decision to steer away from iron ore and focus on Vanadium I doubt that there would be a BMB and many people, including my friends and family made some good returns in 2017/177 and I was able to recover most of my original stake and effectively run free shares.

Of course the rise in V price at that time was not down to Fortune. However if he had not shifted to Vanadium and acquired Vametco then the many BMN shareholders that took large profits would not have had that opportunity. Tough on those that bought in high but that is precisely why AIM miners are considered such a high risk investment. I wonder how many pi’s fail to take that risk seriously?

IsleworthSpy just on a point of accuracy the Mokopane Vanadium Project was announced on 27.11.2013 and quickly became an important focus for BMN. Whilst there was still much hope for the iron ore and associated minerals the vanadium business was growing in importance in terms of future plans. I believe Fortune stated that iron ore price needed to be above $100 to make Mokopane viable. From mid 2014 iron ore prices fell well below this until 2019-2020. No wonder the emphasis shifted to Vanadium at that time

SideshowB I suspect the lack of response to your so called challenge is the very poor research exhibited on your part rendering your post meaningless.

I can’t be bothered to deal with all of the nonsense so I will focus on just one part and hopefully readers will see what I mean.

You state “… selling best mines …”. What complete nonsense!!!

BMN only own one mine (at Vametco) so your use of plural is factually WRONG.

Far from selling the Vametco mine BMN have recently announced that they are acquiring the remaining stake raising their ownership from 74% to 100% !!!

Vanchem is only a processing plant. There is no mine !!!

Mokopane has been part of the BMN asset base for over 10 years. It is a completely unexploited in ground resource with no mine or other activity present. Initially it was intended to be the site of a vanadium mine and possibly processing plant. However the very high cost of development was going to be a serious obstacle. However with the first acquisition of Vametco in 2017 Mokopane has taken a back seat in the company plans and is now considered excess to needs. Hence the sale. But there is no mine there.

Similarly Brits is just an in ground resource that has not been mined or exploited.

Next time you decide to poke the bear please do some proper research and who knows, you may get some answers. But a very poor start by you.

Just my opinion. DYOR

Viper why don’t you do even the simplest of research before asking that question?

Let me help you. Go to BMN website “About us” tab, “Leadership” tab and study the list of Directors. Then you may experience one of those joyous aha moments.

Alternatively let me help again. Fortune is not a Director and I believe holds less than 3% of the company. Therefore neither you, I nor anyone else knows if he selling, holding or buying.

Reteps that is amazing news. You and your family must be so relieved. Thanks for letting us know. Some positive news always welcome.

Regards Paul

Reteps my thoughts are with you for a successful outcome. You are I hope one of the survivors and that cheers me up!

And thank you everyone for the kind messages. We are very grateful for your support.

Regards Paul

Hi knutsfordnotary. Thanks for your comments.

I have reduced my posting recently for a couple of reasons.

Firstly because the company is in a transition period and I am not sure what he outcome will be, although there are reasons to believe it will be positive, so I am waiting on the results of the Orion, SPR and Cellcube negotiations. Fortune did a great job in building this company and working towards achieving his vertical integration model. However for a variety of reasons, many of which were beyond his control but also his failure in the end to respond quickly enough to the changing financial circumstances, the company ended up fighting for survival. This new era in the company’s history clearly needed a different approach and Craig is providing that. As long as SPR deliver all aspects of that deal including the Highveld / Mokopane / Vanchem triangle and that we see the upturn in V prices then I am confident that BMN will do well and hopefully this will be reflected in the share price. Of course this just my opinion.

The second reason that am posting less frequently is that unfortunately my cancer treatment stopped working a couple of months ago. Since then my health has gone into rapid decline. I am signed up for a new trial but no one knows when it will start. Essentially they are trying to keep me alive long enough with a chemo drug but if that does not work then worst case is that I may have as little as 3 months. I hope that you understand that my priorities have changed!

My wife and I remain hopeful and will keep fighting as long as we can.

Regards Paul.

ps Amongst all the noise take note of Troajan’s posts. Smart man.

Great post Agricore!

So since 25 October the share price has steadily risen from 1.3p to 2.125. Long May it continue as in my opinion the company is still massively undervalued.

Nice to see BMN number 6 on Risers board. Haven’t seen that too often in the last few years

Agreed pb940. Wasn’t it a case of some impurities entered the electrolyte ?

I agree Clarkgrisworld. Over a week of steady share price rises yet out comes the negativity. It is almost as if there are those who simply don’t want the share price to rise. Considering the challenging period that the company is going through and the currently unhelpful Vanadium price ( though I have no doubt that will change) it is quite clear that there are some investors who are confident that Craig will turn things around. I am one of them and have been quietly adding to my holding.

I am very pleased the share price has been rising. Like everyone else I have no idea if that will continue (which is why I don’t do share price predictions) but I see no reason why it shouldn’t. Much will depend on how good Craig is at closing the outstanding deals.

Just my opinion. DYOR