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Haha I know exactly what you mean Compass. I bought enough at the low point in 2016 to reduce my average substantially. Now I wish I had been bold enough to remortgage the house! Ah the benefit of hindsight investing!

Compass I read all this pessimistic stuff back in 2015 and 2016 when at its worst the sp was around 1.3p / 1.4p. Not long afterwards it was all proven to be nonsense as Vametco was completed and the sp jumped to over 8p

All shares go up and down. BMN is no different. What is important to me is not those things that BMN can't control (V price, share price) but it is the progress the company is making. And in my opinion that is astonishingly good. Sooner or later this will be reflected in the share price. Remember this company has not allowed this temporary low point in the market to halt its acquisition and expansion programme. I have no doubt we will benefit from that.

We are very fortunate to have such an outstanding CEO. Rare indeed on AIM in my opinion.

These are comments from the media about the transformation programme:

Proactive Investors:

"Looking ahead, the transformation programme at the Vametco operation should see output rise to 3,400 metric tonnes of vanadium, up from the current 2019 guidance of 2,800-2,900 tonnes.

By 2022, the figure should be in the order of 4,200 tonnes."

Morningstar:

" Execution of the transformation programme is ongoing throughout the rest of this year and into 2020, during which we will reach a steady state of production of 3,400 mtV per annum," Mojapelo added."

Mining Weekly:

"According to Mojapelo, the operational performance at Vametco has improved as a result of the transformation programme, which was implemented at the start of the year. Execution of the programme will continue for the rest of this year and into 2020, during which Bushveld intends to reach a state of production of 3 400 t/y of vanadium."

Seems to me that BMN are working very hard to build a low cost vertically integrated vanadium platform. In my opinion those shareholders with the patience to enjoy the ups and downs of the ride should see a good return on their investment.

Well in less than a week BMN should own Vanchem. This very important transaction adds a second production site and enables the company to diversify its range of products, not to mention the potential into raise Vanchem production to over 4,000 mtV pa over the coming years.

Remember Vanchem is not just adding 'potential'. It is adding almost 1,000 mtV pa attributable to BMN. As BMN owns 74% of Vametco it could be argued that around 2,100 mtV pa of Vametco production is attributable to the company (74% of 2,800 mtV pa). Vanchem will therefore add around 45% + to the attributable V production from BMN.

Unusually for AIM resource companies this is actual production and real revenue and profit.

Just my opinion.

Exactly right Gr.

I won't apologise for reposting this quote from CEO Fortune Mojapelo because it is something that shareholders must not forget:

This quote from the FM / MN interview highlights this:

"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 highlights the brilliance of the strategy to build a low cost vertically integrated vanadium platform and that in this respect BMN are way ahead of the competition.

Just my opinion.

Tardigrade your research is so poor that you can't even read a correct share price.

It's not that long ago that those wishing to raise negatives on this bb were stating that high V prices were a significant drag on the growth of the VRFB market! Well I think it is fair to assume that these people should be happy now that low V prices should be making VRFBs very much more viable in terms of pricing. This should accelerate the development of this energy storage industry.

This quote from the FM / MN interview highlights this:

"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 seems that the CEO sees energy storage as a major part of BMNs future. Perhaps we should be focussing less on the V price and more on the huge potential of BE. Looking forward to BE news over the coming months.

I suspect that there will be a significant market correction as supply is reduced by closure of suppliers or cut backs in production. Just a question of when and how much.

Just my opinion.

Apologies "Killerpidgeon ...."

Killerpigeon my understanding is that Chinese traders had reduced exports because the large gap between domestic and overseas prices was a large disincentive to sell into Europe etc.

Gkb47 you may not have noticed that there are two months left of 2019. A lot can happen in the V market in that time, including a reversal of the price. Let's not be too quick to spread doom and gloom.

Recent news flow indicates that FM has taken very significant steps to hedge against the risk of low V prices yet keep the company's growth plans on track. Aren't we lucky to have such a strategically brilliant CEO. It's at times like this that you need quality leadership and BMN has it. Not that common on AIM!

Just my opinion.

https://www.investegate.co.uk/bushveld-minerals-ld--bmn-/rns/r375-million-debt-facilities-secured/201910301451326776R/

I am sure everyone would agree that BMN did very well to use the lower V price to negotiate a reduction of $14.5 million off the purchase price of Vanchem. Brilliant. That is roughly 21% off price. Bargain!

Almost matches the bargain deal they did to acquire Vametco. I believe it was John Meyer that described that deal as one of the best deals he had seen.

BMNs strong management team and strategically brilliant plan to build a low cost vertically integrated vanadium platform put them in a position to effectively whether the storm of low v prices and emerge strong and profitable as they diversify their range of products and sectors that they operate in.

Very exciting period ahead in my opinion.

And "expert" what does increasing production through acquisition of second production site (Vanchem) and diversifying range of products do for company valuation ... mcap .... Share price. Don't think too hard ! Haha.

Then we also look forward to developments in energy storage ? Mcap? Share price?

Then as v price recovers with increasing demand ... if only from VRFBs ... share price? mcap?

V price and share price will always fluctuate so best concentrate on what the company is achieving to understand the potential here.

Just my opinion.

"... management ..."

""Well this is what you pay management to do as an investor. You should pay them to do the best possible deal on behalf of the value of your shares ..."

We are very lucky to have such an outstanding nanagement team running BMN. That is why this company is resilient and will rude the ups and downs of the V price so well. Look at how they took advantage of high prices to amass cash to acquire Vanchem. The strategy of building a low cost vertically integrated vanadium platform is looking like a master stroke on the part of Fortune Mojapelo.

Just my opinion.

.... of the Vanchem deal:

John Meyer 23.10.19 on BMN (audioboom.com) from 6.46

"Yes again we've got quite a number of clients in the mining sector and the first of those BMN announced today it's done a great job on renegotiating the terms of its Vanchem acquisition. I don't think anyone in the market was aware of this. They've managed to knock I think it was $14.5 million off of the purchase price and they've deferred another $23.5 million of the cost through the issuance of convertibles.

Now by my calculations BMN had enough cash to pay the original negotiated purchase price, but they quite rightly went back to the owners of Vanchem and said look boys the vanadium price has pulled back ... we need to spend some more money on revamping these assets when we get hold of them. There aren't any other buyers around and I think that's the key point. There weren't any other immediate buyers around, we would like to pay a bit less for it and by the way we're going to give you a convertible note and it will give you a bit of upside, but actually it will help us to defer the costs so we've got some more money to pay for the development of the Mokopane mine and things like that. I would call this a textbook management deal. It's really smart. Absolutely the right thing management should be doing. I'd love to see more companies do this sort of thing."

Expert in writing stupid posts once again you seek to mislead. No one has buried their head in the sand about V prices. That is a pathetic misrepresentation of this bb.

However for long term investors the only serious matter is the progress that the company is making, and their delivery on their plans is quite astonishing. For example the acquisition of first Vametco and now Vanchem for what are considered to be very cheap prices compared to building a processing plant from scratch.

And of course the current low price of vanadium is very advantageous for the emerging VRFB industry and BMN are well positioned in this respect.

I anticipate a very exciting 18 months or so of news flow from BMN. Watch this space.

Well said Vauch.

I have many times stated that I focus on the company's activities and long term progress and potential. I look forward to the bb focussing on that once again. One of the main benefits of the low cost vertically integrated vanadium platform is to hedge against fluctuating V prices. The company is delivering on its promise to deliver this.

In my opinion we are just entering stage 3 of the BMN story ... a period of expansion and diversification of production and products. The next couple of years look very exciting for those with patience.

Just my opinion.

Just like to remind those showing signs of nerves that the BMN share price rise from below 1.5p in late 2016 to over 40p two years later! And that was on AIM!

Wait until what I call stage 3 really gets under way and we have revenues from a variety of sites and products coming in, plus increases in production at Vametco and Vanchem. Add some BE contracts ....

That is the time to start judging the share price!

Wow. What a first half for England!