Member Info for Pdub

Don’t forget BumblingFool that in that same time frame Vanchem became available and almost certainly required adjustments to plans. They also created partnerships and investments in the energy storage industry, which has already generated a large profit as I referred to earlier, and announced the electrolyte rental model, years ahead of anyone else.

It’s not been plain sailing but to take some of the delays out of context might create a distorted picture of company progress.

Calamari please don’t misquote me. I did not say a fantastically run company. I said they have some great achievements but have faced many challenges. And I have said there are things they could have done better. But overall this is most certainly not a poorly run company. Their strategy is excellent but not everything has gone to plan. Many of the obstacles are beyond the control of company management. Overall though BMN has made excellent progress as a company. For some reason the market is not yet recognising this …. but it will.

Just my opinion.

And just to follow that up, Bushveld Energy. Just remind everyone how many £millions profit made from sale of shares from Invinity investment? Now reinvested elsewhere and will hopefully do the same.

Oh good grief gkb47.. One part of the post talking nonsense about a poorly run company, yet the evidence says otherwise. The rest the same old chip on your shoulder about other contributors to this bb.

Check out this person’s posting history. You will see trader written all over it. Treat everything said with caution.

https://www.fleetnews.co.uk/news/manufacturer-news/2021/06/25/semiconductor-shortage-cuts-uk-car-production-in-half

This is a real issue and it affects all businesses, from the guys building our new concrete shed base who couldn’t get the cement, to an industry as large as the UK car manufacturers (see above). These issues are beyond the control of individual managements. Don’t blame them.

In such an environment hitting targets with the sort of precision and some shareholders here seem to expect must be almost impossible.

There are things that management could do better I am sure but cut them some slack …. Their achievements are considerable but so have been the challenges. They are still there building this business and those efforts, supported by rising Vanadium prices, should eventually generating good returns for shareholders.

And please don’t waste your time with silly comments telling me to give it up. I am stating my opinion, backed up with the evidence upon which I base it, which is a lot more than some of my critics ever do. If you don’t agree that’s fine with me and I welcome well thought through evidence based reasoning,but if your response is rude or childish it is just a reflection on yourself and means nothing to me.

All just my opinion as always. Other opinions are available. Do your own research.

Yes Ninvestor and equally the price of Vanadium could be $50 or $60 by year end. Non of us know. However those analysts that I have read and who probably understand the industry and the market better than you or I predict a strong H2. Read into that what you like.

As for production targets I think folk need to take a step back and look at the bigger picture. Back in 2016 as just a junior explorer with wannabe ambition BMN really had two choices as I see it. Build a new plant and develop Mokopane or acquire an existing plant. Let’s examine these two.

Mokopane didn’t even have the mining licence. That didn’t arrive until years later and would have caused a long delay getting into production. Can’t blame Fortune for an inefficient and corrupt SA system, unless you are daft enough to think he should have paid the bribe!
Even with the permit the cost of building a new processing plant would be maybe $200 to $300 million (possibly more) and would have resulted in colossal dilution / debt. It would take years to build and BMN would have missed the huge revenue and profit from the 2018 vanadium price boom. The shareholders would not have the opportunity to sell at prices up to 48p.
Fortunately Fortune found another way which brings is to option 2.

In 2016 BMN announced to intention to acquire Vametco and that set in motion the acquisition of an existing plant and later the addition of greater % interest in Vametco and the 100%acquisition of Vanchem. Rather than waiting years BMN became a producer overnight, and the deals done for both plants were at far less cost to shareholders than building a new plant. Frankly a brilliant strategy. Consequently BMN is now a serious player in the Vanadium industry and they are positioning themselves to exploit the energy storage business. This all takes time and global events have stretched those timelines, especially the V price crash and COVID. Shareholders benefitted greatly in 2017 and 2018 because of this strategy.

However running two established plants is not without its challenges and I believe one of those is the age of plant and equipment which has given rise to maintenance and reliability issues. Right from the beginning BMN have set about increasing efficiency and improving productivity but as we know this has not been a straight path. I understand why some here are frustrated but these are the facts of life, and delayed and revised targets are not liked by the market. On the positive side much work is being done at both plants to overcome these issues.

I am sure no one two years ago predicted the operational issues and transport challenges caused by COVID, or the global shortage of materials such as the steel required for plant refurbishment. Some suggest FM should have planned for this. Really? Read this link to see how the UK car industry is suffering from parts shortage.

https://www.fleetnews.co.uk/news/manufacturer-news/2021/06/25/semiconductor-shortage-cuts-uk-car-production-in-hal

Lucky I have no interest in dissecting your posts. As I said before you used a provocative and misleading post title. A point you have now acknowledged.

And as I said before many ordinary people, including myself, have their savings and or pensions invested here. Show some restraint in your posts.

I have no further interest in discussing this with you.

Fizzydrink there is the problem. You think I am defending the share. I am not. I focus on the activities of the company. I don’t know how many times I have stated this. Got it now?

I look at the published data provided by the company and together with their stated plans I monitor how I think they are doing. Very often the share price bears no resemblance to the progress the company is making on their path to delivering a large low cost vertically integrated vanadium platform. That has been and continues to be my interest in this investment, and correct me if I am wrong but in the last four years they have made great progress. Along the way they also delivered a share price near 50p!

It is fair to say that in that time there have also been some great challenges, including the V price collapse in 2019, COVID in 2020 onwards, delays with Eskom, and something else that often isn’t mentioned …. The challenges of running and maintaining old plant and equipment. Despite all this, and with some adjustments to plans along the way, the company runs two production plants and one mine, is building an electrolyte plant and a minigrid, has set up collaborations and investments in the energy storage industry, partnered the IDC, etc etc etc.

By any measure that is an amazing list of achievements in just four to five years. When you write ‘give it up pdub’ I would say that you display a c9mplete lack of understanding of what motivates me, and quite possibly the real achievements of BMN. So thank you for you invitation to give up I on this occasion I shall decline.

The share price is of course frustrating but does not seem to represent fair value. News today on targets for production and costs were disappointing. No denying that. However the company is now well set to move things forward and profits generated by rising V prices should give the doubters food for thought.

Glad you have moved on Fizzydrink.

Lucky I said your thread title was provocative and potentially misleading. I am glad that you responded, that is what the bb is for, but please don’t misquote me when doing so.

I would also remind you that this is not the school playground. When happily making disparaging comments remember that people have their life savings and pensions invested here. Show some respect and tone down the rhetoric please. That could apply to a number of posters today.

Very easy to post clever I told you so nonsense from behind the shelter of your keyboard. Most of you wouldn’t dare to be so aggressive face to face. If you are a decent human being in real life then try being one on the bb too. It’s not that difficult.

LuckyLuciano instead of using what is at best a highly provocative thread title and at worst very misleading, why don’t you engage in constructive debate that isn’t designed to wind people up on the day of what is to some extent a disappointing RNS.

You might, just might be treated with a bit more respect.

Sad to see so many trying to gloat and wind up genuine investors in BMN.

Most of these negative comments will be forgotten in the fullness of time, once the market realises that despite the revised targets BMN is now operating its production plants at a profit, something that every critic seems to omit from their comments.

Don’t forget that most analysts see H2 as a period of even stronger pressure on the Vanadium supply and therefore price.

As always just my opinion.

gkb47 2020 was all about COVID. How many companies worldwide had a bad year? They will all be hoping for a better 2021 and BMN are already profitable going into H2. Many won’t be.

Well Jagadishbefore today most of us believed BMN to be significantly undervalued and one theory is that a seller was holding back the share price.

Even with revised targets BMN will still generate significant profit in H2 if supported by current and rising Vanadium prices. Not ramping just numerical facts.

Therefore for new investors today’s share price might be seen as a buying opportunity.

Beginner man don’t talk rubbish. People comment based on known information. I certainly do.

The revised numbers were not known before today and are clearly disappointing. However that doesn’t alter the fact that BMN do have a strategy for growth and have demonstrated the ability to be flexible when circumstances change. Well they changed but there is now a revised plan.

I suspect the new targets will be worst case and may be exceeded. You will have the luxury of being able to review that post 2021. Not sure I will ever know.

Fortunately rising V prices are likely to ensure good profitability for H2 and the upgrade and expansion programme will generate higher production and profit into the future. Not much use to me but good for any investors with patience.

Nicely put G-man11.

I don’t think anything else needs to be said on this thread as it really is going nowhere.

Thanks Jamiejojo. Very useful heads up.

Final Results are in reality old news. However the market reacts to the numbers I am far more interested in the present and the future. So what do we know?

Production going very well (see Jamiejojo)
Vanadium price much higher than 2020 and on a rising trend.
Production costs expected to average $20 to $21.3 for 2021.

Conclusion: BMN now looking very profitable. Low share price simply offers a great entry point / top up opportunity for those with the spare cash.

All just my opinion.

Haha!

“... has been H a n ******* e d "..”

Ah but England did deliver.

1966 ! World Cup Winners in an incredible final. Went to Wembley with my dad to see them beat Mexico 2-0 in league stage. A day I will never forget.

1996 under Venables they did rather well.

2018 Semi final of World Cup.

As for BMN they delivered big time in 2017 and 2018. Some think they are set to repeat that in the near future. Who am I to argue with that?

Oh sorry. Who was it the other day that lectured me about only using this bb for BMN stuff? Haha someone here has been Han****ed.

Worth remembering that at the end of December 2020 FeV prices were around $30 kgV in China and $25 kgV in Europe. Just 6 months later and those prices are China $44.50 kgV and Europe $42.75 kgV

V price in China in that period UP approx 48% and in Europe around 70% !

We all know that 2020 was a tough year for not just BMN but the global economy and many of those challenges still exist. That no doubt will be reflected in the annual results, but nothing the market doesn’t already know.

Despite all this BMN have forged ahead with much of their expansion plans and with the huge rise in V prices over the last 6 months, and with more expected going forward, 2021 and in particular H2 are now looking very profitable for the company.

The latest RNS did show high production costs at Vametco for Q1, largely the result of lower production thanks to the 35 day maintenance shutdown, but the forward looking statement is still forecasting production costs of upper end of $20 to $21.30 kgV. In addition group production of over 4,000 mtV for 2021 ... the highest ever group production total.

Even the strengthening of the US$ v Rand is working in our favour again, with costs in Rand but Revenue in $.

That adds up to a very profitable 2021, and that is without any contribution from BE.

Whatever the daily sp is surely any wise investor would be looking at those numbers and at least thinking this is worthy of further investigation.

Just my opinion.

Jelly think about what you just wrote. All sorts of opinions are expressed on this bb. However the moment anyone posts their thoughts on a public forum they are open to both support for and challenges to that point of view. That is how it works.

Ironically you don’t want me to challenge views that I disagree with. With respect that ain’t going to happen.

I have money invested here and I will protect that investment if I see fit. In this specific instance I am very aware of the particular poster’s method, going back years and in other investments. An experience I doubt you have.

So please by all means disagree with the content of my posts (but have your evidence) and yes be rude to me if you think that helps your case ..... but don’t you dare criticise me for engaging in debate.

Just my opinion.