Member Info for Pdub

Apologies pb940 and thanks for the correction.

I can only put the error down to attending a virtual conference on my cancer iPad the same time. Suffice to say I am not having a great day.

For those getting worked up about the share price let me assure you there are much much worse things in life.

Thank you for that Jamiejojo. Sounds very encouraging for Q2 onwards, and of course only 2 1/2 weeks left before we hit H2 !!!

Fizzydrink here are a couple of definitions of a growing business:

“The process of improving some measure of an enterprise's success. Business growth can be achieved either by boosting the top line or revenue of the business with greater product sales or service income, or by increasing the bottom line or profitability of the operation by minimizing costs”

(My view: BMN are working hard at doing both ie increasing sales and reducing costs.)

“Business Growth is a stage where the business reaches the point for expansion and seeks additional options to generate more profit.”

(My view: BMN are most certainly doing this. They bought a second production plant Vanchem, and are investing to expand production at both Vametco and Vanchem. They are constructing an electrolyte plant and have backed various collaborations and mergers in the Energy Storage industry.)

One can find many definitions of business growth. Even these two vary in detail. There is no one size fits all definition (in my opinion) but BMN seems to fit perfectly most definitions of a growth company, and the BoD are working very hard at growing this business, and with considerable success. That is not the same as saying that everything has gone to plan but overall this company has shown very significant growth in the last 5 years and continues to do so. The future looks very exciting.

In my opinion it is only a matter of time before the market values BMN properly and the share price is much higher than today. It is a great frustration that due to my health I may not live to see all of that share price growth but I think those with patience will be very well rewarded.

The above is just my opinion.

Fizzydrink I understand your frustration at being underwater.

However please reassure me that you are not using share price to define whether a business is growing. Even more so that you are not using a short period like since the start of the year?

As for comparing to all time high sp again that does not define a growing business.

You really do need to take a longer term view if you are anything but a trader.

As for the rest of your post, where have I said that they think the sp represents fair value?

I see the madness is contagious!

Think about it. The Vanadium industry is following where BMN led. The day will come where this is reflected in the share price.

I understand people’s frustration with the share price, I share it. But this is not just about PR. There are many factors affecting BMNs share price and I don’t believe the AIM market is functioning efficiently in this respect.

Having said that I don’t understand why BMN have such a blind spot with PR and how to manage AIM. Yes I do wish they would listen and yes we need to keep sending that message to them until finally they get it and act. I am an advocate of messaging the BoD direct rather than venting ones frustration repeatedly on a bb. However that is only my opinion, it doesn’t make me right and others are free to do as they please. Just consider whether your actions are in your best interests as a shareholder.

In the meantime I am very supportive of the BoDs actions in managing and growing the business. Not all is perfect about BMN but the6 continue to get the important bit right … the business.

Good to know, Sanchez. Thank you for that.

And Pigpen/numpty too.

CHoS I am totally against ill thought out knee jerk reactions.

The business has done well to weather the covid storm and is gearing up for more production, cost reduction and diversity of operations and products. Those are considerable achievements.

Certainly not grounds for removing a CEO!

CHoS I am totally against what you are suggesting, as I was back in 2016 or whenever, last time a few tried to stir up support to get rid of Fortune.

History shows us what a silly idea it was then and I am confident the same will happen this time around. Just to remind you that shortly after that nonsense the sp began its rise from 2p ish upto 48p!

I will also say now that in the stupidly unlikely circumstance that Fortune was unseated, that would be the day that every penny of mine would leave BMN.

Final Results

2020 - 23 June
2019 - 23 May
2018 - 29 June

Again I wouldn’t want to put money on any specific date. They have to be published by 30 June.

Always possible UK although that is pure speculation. This has been discussed many times and it has been established that there is no pattern to specific Q release dates.

Previous Q1 dates:

2020 04 May
2019 15 May
2018 27 April

Today is 12 May. Good luck to anyone playing the release date prediction game if you can work out a past pattern. However not unreasonable to assume sometime in next couple of weeks. Would I put money on that? No.

Personally I don’t like releasing news through long and complicated Q results but given that is what they do then I can understand why the dates may vary each quarter with so much info to process etc.

As I said … they will be released when they are ready.

When they are ready. I’m not being sarcastic iphone. BMN do not publish quarterlies to a specific date. Therefore when they are ready. We just have to be patient. Could be today or it could be a couple of weeks or more.

Apologies for duplication of other answers. Hadn’t seen them when posting.

What is great to see is so many willing to help in such a constructive way. An excellent counterpoint to all the negativity.

Hi.

This might be useful in establishing the potential for the Mokopane Iron Ore project.

https://www.investegate.co.uk/bushveld-minerals-ld--bmn-/rns/operations-update---bushveld-iron-ore/201403310700295481D/

In this RNS from March 2014 the Inferred and Indicated Mineral Resource was stated as 991 million tonnes. Not sure if there has been any more recent updates. Happy to be corrected.

Those that have been here long enough will remember a few pertinent points:

Corbine’s requests for the 3D on the mine! (which did eventually arrive)

The announced MoU with China Railways (may not be totally accurate with the name from memory) though this ended up on the back burner.

Fortune I believe it was that stated the need for iron ore to be $100 + to make the project viable. The iron ore was and remained below that level for several years. In the last 12 months the iron ore price has risen sharply from $80 to $200 + today? Not sure if the same economics apply today compared to when Fortune referenced $100 base but clearly this is has the potential to be a very valuable asset, not to mention the other associated minerals such as phosphate in the overburden and titanium.

Personally I can’t see BMN operating this resource given their focus on Vanadium and energy storage and also the Capex requirements. However Fortune has surprised us all in the past .... ! A sale would be a logical step although perhaps a joint venture supplying iron ore to plants elsewhere may be possible. Others may have more knowledgable thoughts on this.

Just my opinion and happy to be corrected.

I agree Jagadish. It is hard to believe that ZQ33 doesn’t understand how bullying is the tone of their post.

John instead of being yet another bully trying to target those who support BMN and who see the potential for this investment, why don’t you write something constructive about BMN.

You might then get reasonable responses from regulars who may know a lot more about this company than you do.

However please continue writing pointless and divisive posts if you think that helps your investment.

Sanchez. You seem intent on creating the idea that there are just two schools of thought about BMN ... that you are one or the other. That simply isn’t the case. Take this statement:

“This binary discussion that says if you aren't blowing smoke up Fortunes backside then you are being negative is absurd.”

The truth is there are a great range of opinions about BMN’s progress as a company and the performance of its share price (two related but separate issues.

I always read your views with interest but recently you seem to want to divide this bb into two camps. That to me is an unnecessary representation of opinions on the bb.

You could change tack and focus on what I believe most would agree on. For instance:

FM is a very good strategist.
The company’s achievements to date have been impressive.
The plans for expansion and diversification are both exciting and achievable.
Progress to becoming a producer was rapid and achieved at modest cost through excellent purchases of Vametco and Vanchem.
Other developments have not happened as quickly as expected or are seemingly on hold.
The share price is disappointing to a lot of contributors to this bb.
PR is not great, may have contributed to the disappointing share price (though there are other factors beyond the control of the company eg V price, Covid, institutional selling, manipulation, SA Govt. etc) and the BoD seem slow to react to this.

No one that I have read says Fortune is perfect ... he is only human. However to use the phrase “... if you aren't blowing smoke up Fortunes backside then you are being negative ...” is rather simplistic and perhaps a little insulting to the intelligence of your fellow shareholders. I certainly find it offensive if aimed at people like me.

I do understand why some major contributors have restricted their contributions to this bb. And that is to the detriment of us all. Those that have targeted them must accept some of the blame.

If less than perfect PR is not helping to improve sentiment then by the same token targeting those with a more positive view on BMN must surely contribute to negative sentiments.

I look forward to the day when share prices rise and the fickle critics either turn positive or disappear altogether.

Have a nice weekend all and maybe have a think about what I have said. You don’t have to agree with everything ... just think.

All just my opinion.

jelly if you have inside information to back up your wild claims, I like everyone else would be delighted to read about it.

If however you are simply a frustrated shareholder needing to invent an explanation for things that you don’t understand then I think you need to give a lot more consideration to what you write.

If you have an ulterior motive then quite simply … move on fellah. No one buys it.

On a general point, this BoD has no record what so ever of ‘playing games’. They have over the years focussed on building a profitable business around a commodity fit for the 21st Century. If that’s not for you no one would blame you for moving on. As others have said, any takeover would need shareholder approval and with so many shares in the hands of pi lth’s I think the price would need to be very high!

However there is not the slightest hint of such an outcome in the near future so you can sleep easy.

Sanchez that is not exactly what is being said.

Simply put we would all like style to match the substance. But presently in the opinion of some that isn’t the case, although I think some make a little too much of this. It is not a situation I am happy about … BUT … at least the company is doing what it said and building a large low cost vertically integrated Vanadium platform. That is something that we should all be united about. A very real entity is being created that should provide significant returns for shareholders.

No one is choosing A or B as being a preferred option in the way you suggest. It is merely being pointed out that at least the business is solid even if PR is not always up to par. I totally agree that this should not be a ‘binary choice’ and that isn’t what is being said. It is merely an acknowledgement of the real world being perhaps less perfect than we would like.

I will say that if BMN was fantastic at PR but was not delivering the business I would have sol out years ago. Had my fingers burnt too many times with companies like ANGS to ever want to be in that position again.

Hope that illustrates that there is no disagreement between us on this issue.

Pdub.

Not sure why my earlier post was taken down. I guess direct talk is frowned upon . So I re-post a toned down version:

“Eccles in my opinion your so called ‘fact’ is incorrect.

Anyone who bought the bulk of their investment between 2013 and 2016/17 could have sold at a huge profit in 2018 or may be still holding (as I am) and enjoying a large % paper profit.

Anyone who bought the bulk of their holding between March 2020 and November 2020 should be enjoying a decent % paper profit.

Therefore your statement “This business has done absolutely sod all for shareholders in all the years it's been supposedly in business” is very clearly incorrect.

Of course there will others who were not so fortunate with the timing of their entry or have topped up at higher prices and presently are underwater. They have my sympathy as I have been there too. There are no guarantees when you buy shares. However the fundamentals of this company suggest that it is only at matter of time before the share price properly reflects the growth of the company and rising vanadium prices.

By all means voice your opinions but you need to distinguish between those and what are facts.

Clearly some agreed with your statement. Given that in my opinion you were incorrect, I am surprised to say the least.”

All of the above is just my opinion.

Excellent posts BBN.

I agree that the company should be able to both develop a solid business and have effective PR, but if only one then yes the former.