Member Info for Pdub

mikeetg I think this extract from the November interview with FM/ MN should answer your question:

"What we will not do is get into the operations. If you are investing in a company you want to invest in their management. It's about 50% here it's the IP it's the leadership, and what we like. We had a chance to work with Avalon. We did a rental product with them and we really liked that they are thrifty. They got pretty far on probably the least amount of expenditure of the companies we've seen and we would love to have that mindset being taken forward. As an investor I want to know that they are being really thrifty with my capital.

We want to leave the operations to the management teams. I think that will also allow us if there are other good companies that we want to take a stake in knowing that we are not going to be involved in the operations, that the conflict of interests is not going to be there I think is very important to communicate. Strategically yes we can look and see where the market is going, we can offer some advice there because we have seen a lot, but we are definitely not going to get involved in the day to day operations."

Fairly clear. Hope that helps. I know it's a different deal referred to above but it lays out the method behind their investments.

They are very good at laying out their plans and delivering wouldn't you agree?

Good to have confirmation but no one should be surprised. This company is delivering on its promise to become a large low cost vertically integrated vanadium platform. Throughout 2019 they have been putting more and more building blocks in place.

Mogwhy a quote from your post of 12 December on WRES bb:

"... you should do your own research rather than relying on what you read on this board. Those here that have done that research have come to the conclusion that this will be a successful low cost mining operation and have a high conviction that this will be a profitable investment."

Then today you post on BMN bb:

"Pigpen70 - a quick scan through the posting history suggests to me that he's just a concerned shareholder who's been caught in a spike after listening to all the ramping on here."

Why is it ok for you to 'ramp' WRES yet you feel the need to imply criticism about those who 'ramp' BMN. Could it be that expressing genuinely held positive views about a company is NOT ramping! And I totally agree with you that investors should do their own research and not purchase on the basis of comments on a bb.

And let me remind you that even at this share price it is still around 1400% higher than the 2016 low around 1.3p and that back in 2016 I was just as positive as I am now about the future of the company.

I've had the opposite experience. When I began investing I had a 'diversified' portfolio of 9 companies. Some I have sold for profit but four sit in my 'useless' folder, each worth A lot less than the purchase price.

Fortunately my largest investment at the time was BMN and I have gradually focussed most of my money here.

Surely it is not the range of shares one holds that matters but the quality of those stocks. In my opinion BMN is a quality stock. For me this share is a keeper. A long term investment that should give significant returns and hopefully a decent dividend.

Just my opinion based upon my own experience.

Best post of yesterday BobbyAxe. Brief, to the point and so true.

Regards. Pdub.

Well in my opinion it is. That is why I hold all my shares and the four trades this year have all been buys. I could ramble on about why I think this is a good investment but I think this paragraph from the August interview summarises it quite nicely:

"So you ask yourself what are the other risks involved for a mining and processing company? Our electrolyte plant that we are building in East London which will produce enough electrolyte for about 200 MWH per annum. That's $10 million Capex every debt and working capital included. Now if I was to build a mining and processing facility that produces the amount of vanadium that is involved in that amount of electrolyte you are talking more than 10 times that amount of Capex. So it is the kind of risk that we are uniquely positioned to absorb and to deal with because we spent the big bucks in building the mines and the processing infrastructure. But having said that I should also add that even though the capital intensity is much much lower going downstream the economic and commercial opportunities are much much bigger. The energy storage market is potentially 5 to 10 times bigger than the commodity market just selling V into the market. So for us it's almost a no brainer and it gives us a very good hedge in terms of the vanadium price. When V prices come off while the mining and processing prices may come down the attractiveness of our energy storage solutions goes up. The best of both worlds."

It's really a question of confidence and patience. Do folks have the confidence in the BoD to deliver (I do), and do they have the patience required to get the large returns that long term investing can bring (I do)?

Just my opinion.

Fizzy unless you are qualified to give investment advice please don't.

"... almost certainly going to carry VRFB contracts with it. ..."

On holiday in Lanzarote. Hotel great. Weather lovely.

Joyous mood spoilt a little by reading some pointless negativity just after close today. What is it with these wind up merchants?

Anyway .... moving on, I expect VRFB take up to move more quickly than some here clearly think. The news on climate change becomes ever more worrying and the pressure to switch to renewables is increasing. That momentum is almost certainly can to carry VRFB contracts with it.

And it is looking like SA really needs to act quickly. Now who should they turn to ... hmm?

I suggest folk stop focussing on the short term sp and pay attention to what the company has achieved and its plans for the future. It really is a very exciting story.

And please try not to spoil my holiday any more. There may be a lot of people in need of cheering up tomorrow if the UK continues on this crazy path.

Regards. Pdub.

.... with greater tolerance.

Twohits it is always best to do proper research first before winding people up on this bb.

First of all JSE listing is dealt with in the FM / MN interview from 11 November 2019:

"We have said that we are working towards a JSE listing in 2020. It is work that is continuing. I think that when you consider an upgrade from AIM to say the main board in London it's something that as a company we will always consider and the benefits that come with that I think are there, particularly if you can do that and be in a position where you start to attract Index Tracking Funds we think that would bring quite a lot of liquidity to the stock and bring a lot of institutional shareholders to the stock. But again you know you don't want to do it for the sake of doing it. You've got to pick the timing correctly and at the moment our focus and our efforts have been on the JSE listing and on making sure that we attract institutional shareholders to our register which still carries quite a substantial retail shareholder tail."

So they are absolutely focussing on JSE listing. Had you followed this bb and read my transcripts of BMN interviews you would know this.

Then on dividends Fortune deals with this in the interview on 10 August 2019:

"On the dividend policy we didn't so much change as announced our approach to dividends. It is the first time we are actually explicitly stating how we view dividends going forwards as a company The key points we wanted to highlight there were firstly that as a company we are still very much a growth story and therefore a big chunk of our proposition is capital growth. However we as a low cost producer we are a cash generating business and we believe that with the growth ahead of us we will be in a position to fund our expansion and our growth and still have sufficient free cash flow to pay out a dividend and we just wanted to clarify that when we do do that, that will be based upon a payout ratio on free cash flows"

The company took a view that in 2019 expanding the company was better use of the cash being generated from Vametco than issuing a dividend. I, and I hope most genuine investors in BMN, realise that is absolutely the best course of action to generate better long term returns. If you are as experienced an investor / trader as you like to think you are (I noted the bragging about your trading of BMN shares) then you will also appreciate the wisdom of that management decision.

It remains my opinion that the opportunity to acquire the Vanchem processing plant in 2019 may have changed plans for both JSE listing and dividend. I see nothing wrong in that at all. If you wish to continue to place a negative spin on that given what I have posted here then I would be very surprised.

One of the great strengths of this BoD is their ability to be flexible and respond to changing circumstances.

Now please think carefully about your future posts and research first. A better informed post may be met with greater

Twohits ordinarily I would provide an answer to such a question. However from your past record of posting I don't fully trust your motives so I choose not to provide that answer.

On the off chance that I have misjudged you I will point you to the 2018 Final Results RNS. You will find the appropriate reference in the Chairmans Report.

Harhoo I have some advice that you.

Don't drink before you post.

As I pointed out earlier, in an ATM RNS is was clearly stated that The Orange Trust wholly own Yellow Dragon.

Apologies Colt45. I had not seen your more substantive response than my own before posting.

Regards. Pdub.

Ekrane Yellow Dragon are long standing partners with BMN and were instrumental in helping BMN to acquire Vametco. CEO Fortune Mojapelo regards them as 'friendly' and I believe has previously indicated that shareholders have nothing to worry about with regard to YD. I don't know the actual identity of YD but I think there is a strong South African link. However I have no evidence to back that up. Others may wish to intervene here.

With regard to The Orange Trust this extract from the ATM RNS issued 26 November re convertible loan note is interesting:

"The Orange Trust (a substantial shareholder in AfriTin, holding more than 10% of the issued share capital of the Company) wholly owns and controls Yellow Dragon Holdings ("Yellow Dragon")

Hope that sheds a little more light on the matter. I believe the involvement of YD / The Orange Trust has generally been beneficial to BMN and its shareholders.

Just my opinion.

I nearly fell off my chair when I read that comment about "... until BMN joins the party .."

Good grief. Not only is BMN at the party ... They sent out the invitations ... To UET, RedT, Avalon, Enerox. And probably the IDC and Eskom to.

Please if people insist on being 'balanced' at least apply a little common sense to your posts.

Sorry Toolstation. Pressed send in error.

In two words ... Totally agree.

Agreed Alfa. This has the potential to be big ... VERY BIG! And perhaps sooner than some of the sceptics think.

Tool station

.... the share price was 1.45p. Let's not forget what huge returns have already been made and that I see no reason from here why it can't happen again, given the exciting future of this company. I had to wait more than 3 years to get a return on my investment but boy when it arrived it was mega. As always just a question of confidence and patience.

Just my opinion.