Member Info for Pdub

Thank you Lucky for this time being courteous and polite.

I must correct you on one point. I am not trying to excuse the Directors over share purchases. There is nothing to excuse. I merely pointed out the fact that they are already large shareholders and therefore have more skin in this game than most of us. How they spend their salary and whether or not they have spare cash is their business. Not mine. Not yours.

“ If I did believe in conspiracy theory I would venture to say that Director here are trying to bring BMN sp as low as possible, for whatever reason one can imagine.”

The above comment of yours is so ridiculous … no response necessary.

I completely disagree with you re the Directors. Fortune is the reason I remain invested here. He has delivered on the plans to become a miner and producer. He is delivering BE, albeit taking a little longer than we had all hoped. He has set in place upgrades and refurbishments of plant to improve efficiency and increase production. He has engaged in deals, partnerships and investments which should bring benefits into the future.

I hope that he continues to build this company on the solid foundations in place already. I believe we are close to entering a period much like 2017 / 2018 where company developments alongside rising V prices drive a sustained share price rise.

Like everyone here I would like a more proactive PR campaign, in particular far better use of the RNS system to flag up progress to the wider market, but I am very happy with the direction of travel of the company, and the BoD deserve to be recognised for what they are delivering.

I know that may be hard for those underwater to swallow (believe me many of us have been there) but as soon as one stops judging progress simply by share price (this is AIM where sentiment can lead to totally unrealistic share prices!!!) and pays particular attention to company activities it doesn’t appear to be too difficult to be positive about the future.

Oh and the brokers you mention I am not aware of any direct investment by them. They are acting as investment platforms rather than investors. That is my understanding anyway. When it comes to AGM voting you have to contact your broker, in my case HL, and register how you want your vote cast (proportionately based on the size of your holding. The broker acts on those instructions. Hope that helps.

Just my opinion of course.

Excellent post onefcc. Pretty well nails the reality.

Lucky you are still playing the man not the ball. Behave like ‘your’ National football team … focus on the ball.

I am happy for you to be as rude or patronising to or about me as you like because it tells me you have no answer to the points I raise. I made one reference about Director's shares and so far you are unable or unwilling to respond to that point. I await with bated breath for you to actually focus on the point.

Now to make it easy for you and so that everyone can judge fairly I will repost both my answer to Cindercone and my reference to you:

To Cindercone:

“There is understandable concern about the share price … including the BoD who hold many more shares than most who post here. Some of you forget that it hits their pocket too. Oh and don’t blather on about them not paying for them. Yes they did. Shares taken as bonus are instead of cash and are a vote of confidence in their company. If those Directors didn’t believe in the company I am sure they would have wanted a cash bonus.”

Your comment that I first responded to:

“Second point although £3mil holding from Directors could be seen a decent/substantial holding, is this via share awards or direct acquisition of shares? Wouldn't this be the best moment for Directors to show their commitment and buy some shares on the cheap?”

My response to you (I didn’t want to repeat everything in my response to Cindercone):

“Lucky I have dealt with your point re Directors shares in my post to Cindercone.”

Feel free to actually talk about my opinion regarding Directors fees etc or continue to try to discredit me. Either way readers will make up their own minds.

Now I am off to enjoy the sunshine.

Lucky please don’t tell me who I can and can’t respond to. If you don’t wish to have responses then don’t post. If you don’t wish to read those responses then use the filter button.

If you feel unable to intellectually respond to my points then just ignore them.

As far as ramping is concerned please don’t talk rubbish. Everything I write I believe to be true. Do you?

I try to quote evidence when expressing my views in order to demonstrate why I think like I do. I don’t give share price forecasts or try to persuade people to buy. I do however strongly support this company as a longterm investment and I most certainly won’t let new arrivals like yourself bully me off this bb.

If I see nonsense or misleading or incorrect information or opinions being posted I reserve the right to challenge it. If you don’t like that then get over it.

Olderandwiser if you read the RNS it is not directly about BMN which makes today’s sp reaction and negative commentary on the bb very odd.

Prussell “ BMN goes on my growing pile of revisit in 12 months and see if i got my investment back...”

I sympathise with your bad luck / bad investment strategy (?) but with that in mind you are perhaps not best placed to make informed judgements or conclusions re BMN.

Most of us have been underwater at some point. I was more than 50% down for about 2 1/2 years before BMN came good for me. I held because I watched what the company was doing (not the share price) , liked what I saw and had faith in the CEO to deliver. Starting 2017 that is exactly what they did. Present circumstances give me the same sense that a solid foundation is being created to drive the company forward and deliver shareholder value.

What I read here is much whining about the share price yet no substantial criticism about where the company is heading. 2019, 2020 and early 2021 have been tough for the company but for those that follow closely enough the progress being made in delivering the large low cost vertically integrated vanadium platform should flag up to informed investors the potential for a good return here. That’s my opinion anyway.

You know sometimes sh*t happens and there’s nothing you can do about it. For BMN it’s 2019 crash in V price dramatically hitting revenue and profit, COVID and its lockdown, Eskom delays, etc. For me it’s cancer. These events are completely beyond your control. All you can do is pick yourself up and fight on. That is exactly what the BoD are doing. Many business have folded during COVID but far from that BMN are not only producing but expanding into battery storage and working to increase production.

So perhaps it’s worth looking beyond the poor PR, and yes even beyond the poor share price, and focus on the direction of travel of the company.

Just my opinion of course.

Lucky I have dealt with your point re Directors shares in my post to Cindercone.

Cindercone I agree with you. There is understandable concern about the share price … including the BoD who hold many more shares than most who post here. Some of you forget that it hits their pocket too. Oh and don’t blather on about them not paying for them. Yes they did. Shares taken as bonus are instead of cash and are a vote of confidence in their company. If those Directors didn’t believe in the company I am sure they would have wanted a cash bonus.

However I am sick and tired of you and others banging on about those shareholders that have more faith in the company than you do. Every opportunity you expose that MASSIVE chip on your shoulder about them. Time to grow up and focus on real issues.

I get it. You have had a rough ride here but that is because in the past the standard of some of your posts deserved it. Strangely I am interested in your thoughts on BMN but the moment you start the childish attacks on LTHs my eyes roll and I lose the will to live … ok not quite. However I instantly lose interest in your post.

Your 13.54 post is a classic case, once again attacking those with a more positive view than yourself. Remember they have as much write to express their opinion as you do. By all means disagree with the content but lay off the personal attacks.

If you are a genuine investor then engage sensibly with people. You may get a better response.

Fosters at least Libero is not afraid to support his investment like some others who take every opportunity to damage sentiment.

Eccles results were published on 30 June. The knockers have already been down your road. Completely overdone of course.

Notice of AGM on 5 August and 2020 Accounts available on BMN website under Financial Reports

It is a testament to the strength of democracy in South Africa that the country retains a free press and an independent judiciary, two critical pillars of democracy.

The current unrest no doubt driven by Zuma supporters demonstrates why he had to go. South Africa has correctly used the legal system to bring this corrupt politician to account. This was not an easy thing to do but the legal system has done its job. No doubt some don’t like it but once he is inside I would hope things will settle down again.

Pat I had noticed that too and was puzzled as to why the sp didn’t fall. Well we have an answer. A 500,000 buy at 16.01 that only showed up after hours.

One of the common criticisms raised on this bb concerns missed targets. I decided to look at 2020 production targets (the last full year of figures) and see how the company performed. Very interesting when it comes to production.

The original production target for Vametco and Vanchem combined (group) was 3,960 to 4300 mtV for 2020. However both plants were forced to shutdown for 4 weeks during the South African Covid lockdown in H1 2020. The company estimate that this led to a loss of production of 300 mtV at Vametco and 80 mtV at Vanchem (380 mtV of production was lost in total.) There is no way that any of this can be blamed on BMN.

So how did BMN respond? They downgraded production guidance to 3660 to 3950 mtV for 2020. The astute amongst you may have noticed that they only dropped the production guidance at the lower end by 300 mtV, despite the fact that they estimated a loss due to Covid shutdown of 380 mtV. They actually made it harder to achieve their target than before. They could legitimately have dropped the lower end target to 3580 mtV. How is that relevant?

Now in 2020 group production was 3631 mtV. That is just 29 mtV below the revised target of 3660 mtV. However it is more than the 3580 mtV that in my opinion they could have used.

Perhaps just as relevant is that in Q4 Vanchem experienced an unplanned maintenance shut down and consequently only produced 261 mtV. The Q’s either side of this Vanchem produced 294 and 293 mtV. If we assume that without this unscheduled stoppage then Q4 would also have been about 293mtV that extra 30 odd tonnes would have taken group production over the challenging 3660 mtV target.

So let’s not be too harsh on the issue of targets. It’s not quite as bad as some would have you believe. In fact to end on definitely a positive note, Vanchem in its first year of production under BMN ownership (2020)produced 990 mtV against a lower target of 960 mtV. Target achieved at this 100% BMN owned vanadium production plant, despite the unplanned shutdown.

So some good news in amongst the noise.

If Vametco is now working more efficiently following the maintenance shutdown then hopefully we will begin to see more good news re production figures, and quite possibly on a continuing rising V price trend into 2022.

Just my opinion of course.

Nice one beatthebroker. Some on here see nothing but problems. Others see the opportunities.

Doing the best I can thanks.

Regards. Pdub

Be aware of trolls with ‘apparent’ European connections patronising us and bringing negativity to the bb. In my opinion very suspicious. Don’t get taken in.

Good grief what a negative bunch of miseries have taken over this bb.

Fact: 13.13 / 13.27 is significantly higher than Friday close. Get over yourselves and enjoy the rise.

I don’t know if it will last. Who knows it may continue upwards. It should do. But don’t knock it, enjoy it.

No wonder the seriously researched real longterm investors can’t be bothered to post here. Some of you simply don’t deserve to benefit from their research.

Er ... UP 3% in first 1/2 hour? No effect? Hmm

Let’s wait and see performance over a day or two rather than negative instant response please.

I have no idea if ride will hold ... but if there is ant sanity left on AIM this should be the start of a recovery.

Thanks Mogwhy

Exactly Jimbo. Well said.