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Director buys … whatever answer they could have given some of you would want blood. Whether you like the answer or not they have stated why no Director buys. As far as they are concerned that is the reason. That should be the end of it.

As for ii’s then yes on AIM that is exactly what they want … cheap cheap cheap deal. If Fortune doesn’t want to play ball then good. I just hope that he realises that some of his ‘best friends’ are among the pi community.

Yes the share price is disappointing, but to even think of suggesting that the BoD haven’t delivered is nuts when you look at all that has been achieved over the last 4 years in growing the business. BMN have made astonishing progress in that time. Trouble is Mr Market is a very slow learner.

Just my opinion

Lucky 13.025p to sell right now. Don’t you like being in profit?

Razor not sure I want meteoric rise. Steady and sustainable rise is much better in my opinion.

Mogwhy whilst not predicting $60 kgV by year end if Vanadium prices continue to rise on the same trajectory as the first half of the year then that price would be possible. That would confound the critics and generate decent profit for 2021. That will no doubt be reflected in the share price.

Despite the attention of one well known troll the $ / Rand exchange rate seemed to be working in our favour.

Future looking good for BMN shareholders.

Just my opinion.

Is this the start of a rising trend?

Ninvestor some China prices were up!

Amen to that Apple!

Thanks UKSteve for the link. Having read that I stand by everything I have posted.

I sympathise Apple. I was in the same position as you for 2 1/2 years before the rise in 2017. However despite sitting on a significant paper loss through that period I was confident that this investment would come good …. And it did … big time.

I too have topped up in the 20’s, 30’s and one at 47p so they pushed my average up a bit. I am even more confident now than I was back then that this investment will come good, just based on how BMN are sticking to their plan to deliver a vertically integrated vanadium platform.

The current share price is disappointing and I have more reason than you or anyone else here to be frustrated with it, given my life expectancy . However that is not the BoDs fault. As I said before just my bad luck. Maybe you have the luxury of having the time to wait for the good times?

Cindercone that was a very disappointing and unnecessary contribution. Whatever the motive anyone has the publishing of well thought through analysis should be most welcome.

Accept it for what it is Cindercone … another source of information that helps individuals make sense of all things BMN. Nothing more, nothing less. W3 all have our own reasons for posting …. Even you. xx

Your work is very much appreciated BBN. Thank you.

That’s true Faramog.

However way back in 2015 / 2016 I and others were telling people what a good CEO was and if they had patience he would deliver. Many didn’t believe us. They wanted evidence to back that up.

To be honest that suited me fine as it enabled me to buy more at a very low price. Anyway the point is that those who believed in Fortune were right. Those who hesitated and waited for evidence (eg Vametco purchase) paid a lot more for their shares.

That is how I see the current situation. Some of us believe that Fortune will deliver, and some, whereas others are more sceptical.

If history repeats itself those doubters may wish they had had more confidence. Nothing is certain of course but I am very comfortable with what BMN are doing.

Obviously my own future is looking increasingly uncertain and I may not benefit from BMNs success. That is not Fortune’s fault, he is totally focussed on delivering a vertically integrated vanadium platform. Just bad luck on my part.

“ The podcast also includes a discussion on Largo’s unique “vertically-integrated” business model.”

I nearly choked reading that.

I’m sorry Coffeecups. You must be a true superstar investor. Never got it wrong even when you first started out. I am humbled by your presence.

Or is the truth that as usual you couldn’t resist a personal attack instead of dealing with the points I raised.

Glad everyone has witnessed this.

There was a contingency plan. They have been attempting to improve efficiency and raise production from the start! It has been a major part of their strategy. They fully understood the likely issues. And they put in place funding to cover this.

As for salaries Fortune didnt take a rise for several years whilst simply a junior mining explorer. Rightly after transforming the company into a producer they deserved higher salaries.. Wouldn’t you if you had their talent to achieve this? Course you would ... after all you are only here for the money !

Many AIM executives pay themselves far more for achieving less. Worst case I have witnessed is a CEO of one of my past investments who paid himself more than $1 million P.A. yet the company never made a profit in those years. By comparison this BoD s salaries seem fair.

Anyway just my opinion.

The Invinity investment was part of BMNs strategic plan to help existing VRFB companies to upscale and be more effective in the market. Avalon and particularly RedT were prime targets. Bringing them together and raising investment to form Invinity absolutely vindicates BMNs policy. Look at the success of Invinity. The sale of those shares at considerable profit raised £millions for BMN, and then was used to invest in another project.

That project has not yet run its course so we don’t know how effective the new investment will be. However if Invinity is anything to go on it should prove to be yet another success. Anyone who says selling Invinity at a large profit was a mistake is simply being very premature as explained above.

A bit like those who think engaging in the VRFB market was a mistake. It suggests to me a failure to understand BMNs strategy.

Lucky you are clearly no expert nor qualified to tell people what they should or shouldn’t invest in. So stop doing it

BMN are in that great position of CURRENTLY (not last year) making a profit from mining and processing vanadium and vanadium products, largely for the steel industry. Their expansion and future plans are putting in place the capacity to produce much more vanadium ie greater profits still at today’s price, and most analysts see a strong H2 / 2022 for vanadium demand and prices.

As VRFBs continue to increase their market share of the grid storage market, BMN will have the capacity to meet some of that demand and an electrolyte plant ready to supply as required to their partners and other VRFB companies. Unlike some other companies they have huge in-ground resources, some like Brits and Mokopane as yet untouched, so will be able to supply vanadium for decades to come. That provides something quite rare ... reliability of supply for your customers.

They are particularly well suited to focus on what is a potentially massive market for grid and off grid energy storage projects for solar/ battery in South Africa and throughout the African continent. Through their partners they will be able to exploit this growth industry in the rest of the world.

I completely disagree with your conclusions. For a serious investor this looks like a great buying opportunity for a company with an exciting future.

Of course the Covid crisis and low V prices in 2019 slowed things down but open your eyes to the building blocks that are all being put in place. And yes capital expenditure has been necessary but if that is to increase production and efficiency then worth it.

Your statement that the VRFB investment could be detrimental is in my opinion such nonsense that could only come from someone entirely focussed on the short term share price and not the much bigger long term prize. You cannot assess the share price without properly studying what is happening with the business. This short term criticism is exactly the sort of stuff posted back in 2015 / 2016, just before the share price began its rise fro 2p to 48p. Let’s see if history repeats itself. Everything is being put in place to do so.

I note that you are working very hard to deramp BMN and then today you suggest other investments. I will leave that to others to draw conclusions.

“… an upward curve through H2 into 2022.” Apologies for typo.

Actually Bolgas we know that 2020/was loss making, as it was for so many companies globally. You certainly don’t know that today’s business is loss making. V prices are much higher and according to most analysts likely to stay on an upward curve through H2 into 2021. That’s not me saying that … it is industry experts (of which you are not). I would say that Vametco is now profitable and set to be more so going forward.

And who here said any share is a sure thing. You are simply making stuff up. Investing in shares is a very risky business. The bit you missed is risk V reward. In my opinion the potential excellent ROI is worth the risk. You may disagree. You did back in 2016 and were often abusive and rude towards me and others. In the end you looked a bit of an idiot.

Don’t risk putting yourself in that position again!

And for those who think they should not have bought Vanchem … WRONG in my opinion.

From same interview the strategy involving Vanchem:

“ You talked a little bit about Vanchem and about how it's going to diversify your product stream. Does that mean that you will move out of FerroVanadium and you'll be able to produce vanadium chemicals etc for batteries and that sort of space? Is that correct?"

"FerroVanadium and some steel plants prefer using FeV, other plants prefer using vanadium carbon nitride products like Nitrovan. So when we have both in our product mix it just gives us more flexibility and more reach in the market. Also the chemical production capabilities are very much important to us given our aspirations in the energy storage industry. We are currently building an electrolyte manufacturing facility and we will look to maximise synergies between that facility and Vanchem. So that ability to produce multiple vanadium products is a huge step for us."

And for new investors a nice summary by Firtune Mojapelo from same August 2019 interview outlining the company assets:

“ Our asset base of mines and processing facilities are based in SA on the Bushveld Complex. We essentially have 3 key assets: Vametco, Mokopane and the Brits project, and in addition to those 3 we have recently announced the conditional acquisition of Vanchem. I'll give you just a quick summary of what each of these assets are.

Vametco is our flagship asset. It's an integrated open pit mine and processing plant and its production base last year was 2,560 mtV. This year we have a guidance of 2,800 to 2,900 mtV, and it has the potential to grow to 4,200 mtV pa over the next 3 years on the back of an expansion programme that we are running.

Then we have the Brits project which is an extension of the Vametco mine. We declared a Resource there recently. The grades are about 1.58% V2O5 and the resource size of the Brits project is approximately 67 million tonnes. Between Vametco and Brits we have a resource base of approximately 260 million tonnes resource.

Over and above that we have the Mokopane project. We have the PFS that we completed and we have a mining right on this project which is imminent. The resource is 298 million tonnes of vanadium and the Mokopane project is intended to be a primary supplier of ore to Vanchem which will be our 4th asset once we complete the acquisition of that plant which we announced earlier this year.

Vanchem itself is a processing facility which currently produces about 1,000 mtV pa and the cost of the refurbishment at a cost of about $45 million will grow to 4,200 mtV pa. In total what the portfolio has is 3 deposits which combined have a resource base of 552 million tonnes with top tier vanadium grades of between 1.58% and 2.02% V2O5, together with 2 processing facilities that combined post refurbishment, our investment and expansion plans at Vametco, are anticipated to produce 8,400 of Vanadium over the next 3 or 5 years.

A really solid upstream set of assets. I would just add that at Vametco we produce a product called Nitrovan which is used by steel plants around the world for strengthening steel. Vanchem will allow us to diversify the product range to also include V2O5, vanadium trioxide, vanadium chemicals as well as FerroVanadium. So between those two processing facilities we will be able arguably the broadest range of vanadium products in a single company."