Member Info for Pdub

Did anyone reading this bb take part in or listen to the conference call live?

I am amazed that no one has fed back to us. Surely someone can pass on some info?

Drifter my point is that your calculations are full of errors and therefore very unreliable.

It’s one thing to do your calculations, however inaccurate they may be, but quite another to publish on a public bb where less experienced readers may be completely misled by your inaccurate numbers.

As I am not an accountant I do not post my figures for the reasons above.

I repeat that in my opinion BMN is very undervalued.

Drifter just to add to faramog’s concerns over your calculations I would add that you can’t just ignore that Vanchem is 100% owned by BMN and attribute just 74% to the company. Vanchem contributed 30% of vanadium production in Q1. This is a very significant error in your calculations, undervaluing BMN and casting doubt on your methodology.

I repeat that BMN is now significantly undervalued.

07 October 2019 (Before Vanchem acquisition)
FeV price $27 / kgV. Share price 20.5p

07 November 2019 (Vanchem acquisition completed)
FeV price $21 / kgV. Share price 22.25p

04 May 2020
FeV price $27 / kgV. Share price 12p

In the months after the Vanchem acquisition the share price was generally around 20p, and had not responded to the purchase of this additional plant.

The share price only took the big hit with the Covid19 pandemic, falling to below 10p in Feb / March, followed by a short lived recovery and then falling back again to close today at 12p.

We know from today’s numbers that Vanchem contributed 30% of Q1 production. We know that production costs are very low and that the plant is profitable. However the sp is very far below what it was last October before purchasing Vanchem, even though the V price is at about the same level. So I find it laughable that anyone has the cheek to suggest the current share price is a fair reflection of value given the addition of Vanchem production.

Remember the sp was 20p or more BEFORE the Vanchem acquisition and the Covid19 impact.

So I agree totally ... keep it real .... the current share price is way too low.

Let’s have no more negative trader talk please.

Hamill23 exactly who are these apologists that you speak of?

Drifter if you really can’t be positive fine. But please please stop inflicting your negativity on everyone else.

You really can be a very depressing character.

I am a little surprised that no one has given any feedback.

Please everyone do not forget that Vanchem contributed 30% of attributable BMN vanadium production in Q1. This is the first complete quarterly data since the Vanchem acquisition late last year.... and the numbers are just about as good as we could have hoped for. And it is 100% owned by BMN.

And with further kilns that can be refurbished and brought into production. And Mokopane just waiting to supply it.

Thanks for responding AM. I thought it was unlike you to be negative so reassured that you have a generally positive opinion of the RNS. The only issue I would have with your comment is that we didnt know the level of sales and we had no data at all from Vanchem. Turns out that the results from that plant are excellent.

Sharesaplenty unfortunately I won’t be able to listen live. Hopefully I can catch it later. If so I will try to do a transcript but apologies for not being able to add a time to this comment.

Regards. Pdub.

Excellent post HaleSpur.

Let’s not forget that the Vanchem acquisition, now that is has returned quarterly results, has contributed 30% of BMN’s arrtributable Vanadium production. And at low production costs.

Let’s remember what a brilliant strategic move that was, as was the Vametco acquisition.

We are very lucky to have such a talented leadership in my opinion.

AM could I ask you what positives you take from what is a good RNS under the circumstances?

You are normally way to observant to have missed such key features.

Daisydog I can tolerate your negativity but not such blatant stupidity.

Read the RNS again ... properly ... all of it

It is packed with info. Data on Vanchem alone. Production figures which we didn’t have previously. Production costs which we now see are comparable to Vametco which in turn are in lowest cost quartile. Confirmation of variety of products and amounts, especially relevant as they are producing V2O5 which has seen rising prices recently.

Confirmation that production is being ramped up to normal levels.

I could go on but I want you to do some work yourself. Read it all. Develop some proper understanding.

Under the present circumstances this is a very good RNS. If you can’t see that then please sell up and move on.

just A reminder from RNS.

Company behaving responsibly towards its workforce and community.

Already back at 50% and now allowed to ramp up to full production

Vametco production good for Q1 despite lockdown.

Vametco sales very strong.

Shutdown used to bring forward maintenance period. No need for closure later this year. Excellent management.

Vanchem first quarterly data confirms good production level and varied products and low costs.

This company is weathering the Covid19 storm very well and should be ramping back up to full production

For once MEM I agree with you ... a very solid set of results.

Very good production numbers at both plants and costs low. Excellent news.

Any consideration of this RNS has to be set against the background of Covid19, where some businesses have a very uncertain future. In that context this is a remarkably good RNS!

Vametco

The lockdown was used to complete the annual maintenance (remember some here tried to argue that wouldn’t happen. They were wrong!}

Sales were very strong for Q1 and profitable, benefitting from access to stock previously produced.

Vametco was allowed to restart operations at 50% and since 01 May has been permitted to ramp up production to normal levels (contrary to what some negative posts implied)

Vanchem

Great to see first full set of production figures from this 100% BMN owned asset.

Producing and selling chemical, V2O5 flake and FeV

Production costs 18.5 kgV

Produced 30% of BMN attributable vanadium(which I am pleased to say is roughly what I forecast some weeks ago).

These 2 plants are producing and selling vanadium at profitable levels and that is a very important takeaway from this RNS.

MEM I have no problem with the methods any one uses to make money, provided they do it with honesty and dignity. I hate the trader bullsh*t that pollutes LSE bb’s.

In my experience many negative posts are put up to try to manipulate a downward movement in sp such that the author can benefit from other’s losses. That is often the case here. That my friend is reality.

This is a very well managed company with an exciting business plan and huge potential for share price growth. If people don’t agree then don’t buy. Simple.

... stems from the early years in BMN. The story here was very compelling and having met Fortune and most of the BoD I was (and remain) convinced that they had the ability to grow the company and deliver excellent returns for their shareholders. By early 2015 most shareholders would have bought in at between 3p and 7p. Then through 2015 and 2016 the sp tumbled to as low as 1.3p. The bb became polluted with negative noise and unpleasant visitors saying exactly the same things as witnessed here in recent months. I and others defended the company and resisted crazy calls for the CEO’s resignation. (Yes people actually wanted to remove Fortune!)

Some 2 years after that sp low the sp reached almost 50p! The negativity disappeared.p and Fortune was now a hero. Oh how I hate fickle behaviour!

So having seen it all before and believing that the value of this company has a very long way to climb I will continue to challenge unreasonable negativity if I see it.

I note for example that someone has identified MEM as a shorter of another share. Hmmm.

My scepticism of negative posts is hardly surprising!

MEM you write:

“What is wrong with the truth, and some reality of the situation”

Nothing at all. But what is the truth. Most of your points 1 to 5 are opinions. Nothing wrong with that but don’t confuse that with factual “truth”

Hi MEM. I guess we all want the same thing ... the share price to go up. And for that we need new investors. And for that we need positive sentiment. Now I don’t call that policing what people say on a bb (be as negative as you like), I call it plain old common sense!!!!

Having been here for 6 1/2 years I will offer this. It is interesting that a significant number of posters on this bb get very negative if the sp goes down but then are very positive when the sp goes up. Personally I don’t like to behave in such a fickle manner. If someone believes this to be a good long term investment then that will be the case whatever the short term share price. Hopefully that helps to explain my consistent support for BMN.

The constant negativity from some quarters here also in part explains why I have reduced my contributions to this bb, and I suspect why several significant LTHs have also reduced their posting frequency. Just my opinion of course.