This morning's RNS has gibpven us a great opportunity to remind the market just how large the combined Vanadium resources at Brits, Vanetco and Mokopane are.
Unlike some companies BMN is able to fund much of its own expansion and development plans with profits from Vametco and in a few months time from Vanchem.
Remember at present no Debt and finished 2018 with £42 million in cash.
How dies that compare with Ironveld lol.
I would also remind readers that the Brits Maiden Mineral Resource is not the end of the story. From the original RNS:
"As such there is potential to increase the resource on the remaining eastern unexplored portion of the farm on a strike length of 1km."
There more Vanadium at Brits than is included in the BMMR RNS!
The total 100% resource is unaffected. It is just as huge and high grade as ever!
BMN still own a very large resource at Brits (in addition to Vametco and the massive Mokopane). See below:
New Brits Resource data:
Indicated Resource is 28.0 MT, 129.0 Thousand Tonnes V2O5 in magnetite and 72.2 Thousand Tonnes V in magnetite.
Inferred Resource is 13.7 MT, 66.8 Thousand Tonnes V2O5 in magnetite and 37.4 Thousand Tonnes V in magnetite.
Total Indicated and Inferred Resource is 41.8 MT, 195.8 Thousand Tonnes V2O5 in magnetite and 109.7 Thousand Tonnes V in magnetite.
The sp hardly moved with the original RNS announcing the Brits Maiden Resource. Logically this should make no difference to sp other than reminding the market just what a large resource Brits is!
In 2018 the Q2 Vanadium update was published on 22 August. However there is no pattern to the date of publication of BMN updates and results. This is well illustrated by the two examples below, one several weeks earlier and the other several weeks later this year compared to 2018
Q1 Vanadium update for 2018 on 27 April but in 2019 later on 15 May.
Final results in 2018 on 29 June but in 2019 earlier on 23 May
Therefore the Q2 update may be earlier than 22 August but equally it may be later. Just have to be patient ... it will be published when BMN are ready.
Better to focus not on timing but on content. I hope it will show a significant increase in monthly / quarterly production at Vametco. That could be very interesting.
Just my opinion.
Rxdav given that you have sold out why would next Friday's closing price be of any interest to you? Of course the answer seems very obvious ... looking for a cheaper buy back.
This conclusion seems to be supported by your non stop negativity.
Of course I understand your anger with the company and what has happened. I sit on a significant loss here. However given that you have sold out I find your constant negative posting particularly annoying as you seem intent on trying to inflict further damage to the sp, thus causing larger losses to existing holders. I doubt that idea has even crossed your mind but perhaps you could give it some thought. After all it is no longer your money on the line. Of course my conclusions about your intent may be incorrect, but I am making that judgement as a response to what you post.
As far as my own losses are concerned I blame myself. I know that won't be a popular concept on this bb so allow me to explain.
Anyone investing in an AIM junior oil company is taking a HUGE investment risk. It's an all or nothing investment. Oil flowing or duster. The former may bring large profit, the latter large losses. Sadly Brockham appears to be the latter. So our big gamble didn't work out.
I remember being invested in Doriemus back in 2014 / 15 when Angus was the operator but a private company. The common complaint was poor communication from Angus, even before they listed. Then when Angus listed we all believed the hype and forgot the poor history of communications. We bought into the dream ... no one made us do it. It was our decision therefore our responsibility.
I used to post here and on the DOR bb and in fairness was quite positive about the prospects. However I frequently ended the posts with this critical point ... IT ALL DEPENDS ON WHETHER THE OIL FLOWS.
Sadly it appears that the oil did not flow. Tough luck on us.
Whatever anyone thinks about Tidswell Vonk Lucan etc. they would all be forgiven had the oil flowed, irrespective of their history. But it didn't. So either hold, sell, buy or whatever .... but accept that we got this wrong and move on.
Yes some will press a class action and good luck with that. I will observe with interest.
However in my head I have moved on from Brockham. Not worth selling now so I will hold and see if they can recover this over the next year or so. Cancer has completely changed my outlook, and life is too precious to waste it worrying about one of my investments failing.
Just my thoughts and I am sure many will disagree.
Good luck all. Pdub.
H2 results to come, hopefully showing significant improvement in production at Vametco.
Mokopane licence could drop anytime.
Vanchem deal to complete
Recovery from n V price
Any BE news
Any or all should help the sp.
No summer break for me.
Reilly this is a decision that you have to make for yourself.
If you haven't already done so this is about as good a source of info on all things BMN as you will find.
For me this is a life changing investment. I cannot speak for anyone else invested here.
Interesting that current FeV prices are described as 'low'. It could be argued that they are nothing of the sort!
Throughout the period 1980 to 2003 FeV was typically well below $20 kgV, apart from a few spikes.
Since 2003 there have been some more very significant spikes in V price, including 2018. However typical prices were in the range $25 to $40. Therefore the current price around $35 + or -, is actually close to average long term FeV prices.
Perhaps not a major point but language can affect sentiment.
For low FeV prices look at 2016 where they were around $15 kgV. Great for BMN as that was when they negotiated the first Vametco acquisition (a brilliant deal).
Whilst huge price spikes in general might be considered counter-productive in the long term, BMN did incredibly well out of the 2018 spike, ending the year with £42 million cash which it looks like they will use to fund much of the Vanchem acquisition and instantly increase production by nearly 1000 mtV pa.
Perhaps the two most important points from a BMN perspective are that with production costs at less than $19 kgV Vametco is very profitable at this price point.
Secondly the current V price makes VRFBs much more competitive, and that market may well be able to absorb modest price rises from the current level.
Fortune's decision to develop a low cost vertically integrated vanadium platform is looking like an inspired strategic plan ... and the shareholders are likely to see the benefit of this as the next stage in the company's development unfolds over the coming months and years.
Not sure if that all makes sense and just an opinion. Make of it what you will.
numpty you are correct re share buy back and it can't be ruled out, but I believe ludeck's excellent post very accurately reflects how Fortune operates.
Also this morning good to see the V price indicators showing some signs of an increase.
For anyone feeling a little jittery and wondering when the sp will boom I can't answer that, but I love this quote from a Bloomberg article from May.
"Adroit Market Research points to astounding growth in the VRFB market"
Now you have to admit that should bring a smile! BMN is positioning itself to lead the charge in Africa, where frankly the benefits could be greatest for local populations and businesses.