Member Info for Pdub

Well done Clark. Refreshing isn’t it. One can only guess what his motive is but frankly I don’t care.

Ggggareth your post may not be referring to me but in case it is if you think I don’t know what a sh*t show that place is ….

The problem is that there are some who are attempting to turn LSE into something similar. When one lowlife posted three obscene comments about my wife then enough is enough.

I have binned 15 people in the last week mostly for insulting or abusive comments. What a difference that has made. Unfortunately I don’t get to read the rare negative comments that make sense but so e it.

My focus now is entirely on BMN and its positive future as a vanadium company.

I am very aware that not everyone shares my positive view of BMN through 2023/24. That is fine. The abuse and insults directed towards me are not.

However one thing that nobody can deny is that the new CEO starting next week is very experienced in mining and finance. With his credentials there is no way he would take up a post like this unless he was confident if a positive outcome. He would have had access to far more information than we have and may have been involved with the Orion negotiations. The confidence that both Orion and Craig Coltman have shown in BMNs future is something everyone should take into account.

I cannot see anything negative about this change at the top, particularly as he will continue to use FM in a supporting role. Very significant strengthening of the management team which is exactly what many of the critics were calling for. Well now you have it. Get behind the new leadership.

Just my opinion. DYOR

Just my opinion.

It seems that every time I post it is followed by a green box or two. Let’s hope those posts stick to the point and are not patronising or abusive.

Please remember that positive views are allowed here too and as long as I am positive about vanadium and BMN I will continue to express mine.

BMN has made huge progress improving its operations and now with new and perhaps more experienced leadership the future looks very positive in my opinion.

The timing could not be better for Craig as short term pressure from debt is removed and the VFRB industry is adding to vanadium demand which over the next year or two could be quite difficult to meet.

Looking like good times ahead for selling vanadium and electrolyte. No guarantees of course and the v price will be key.

Just my opinion. As always DYOR as you are responsible for spending your hard earned cash.

“Demand for the battery segment, due to the low volume of capacity additions currently, is often annually set by one or two large projects being produced in China,” Thomas and Murphy said. “Going into 2023 we expect an increase in demand compared to 2022 as some large VRFB projects are expected to begin construction, as well as numerous smaller commercial-scale projects.”

“ The Vanadium redox battery Market was valued at US$ 288.75 Mn. in 2021. The international Vanadium redox battery Market size is expected to grow at a CAGR of 22 % through the forecast period.”

That is going to drive significant demand for Vanadium, even in 2023/24

Clark isn’t the BE hive off specifically to allow that part of the business to be able to raise funds without burdening BMN?

As for BMN quite apart from the expected rise in Vanadium prices that would increase margins there is a very significant stockpile where production costs have already been paid. Sale of a proportion of that would provide access to cash should that be necessary. Any dilution I would hope would be a last resort if necessary.

With revenue growing from rising Vanchem production and some electrolyte sales any significant rise in V price driven by a growing global VRFB market should solve most short term cash issues if there were any.

Key is the completion of the refinancing arrangement.

Just my opinion. DYOR

So next week a new era begins for BMN. We are told the new CEO worked for DeBeers for 32 years and his work ranged from operations to financial management, including CFO. He is currently the Chairperson of the DeBeers pension fund.

How does that make him suitable to be CEO of BMN? Not sure that question really needs answering but here goes.

He brings management experience at the top level. DeBeers operates in 35 countries and has 20,000 employees. They specialise in a variety of mining processes including open out mining as at Vametco. Last turnover figure I have seen was $6 billion. I think he is VERY well qualified to lead BMN.

So why would he want to? I doubt very much that he shares the negative views of BMN that some post here. He must see this as a good prospect. This man could pick his jobs and he chose BMN.

It would seem that Orion and the new CEO see a bright future for BMN. And he will have the experience of the Vanadium world that Fortune Mojapelo will provide in his supporting role.

Https://www.energyportal.eu/news/how-vanadium-redox-flow-batteries-are-revolutionizing-energy-storage/46495/

“ Vanadium redox flow batteries (VRFBs) are emerging as a promising solution to the ever-growing need for efficient and reliable energy storage systems. With the global shift towards renewable energy sources, such as solar and wind power, the demand for effective energy storage has become more critical than ever. Traditional energy storage methods, such as lithium-ion batteries, have their limitations, and the search for alternative technologies has led to the development of VRFBs. These innovative batteries have the potential to revolutionize the energy storage industry and play a vital role in the transition to a more sustainable and resilient energy future.”

So China V2O5 up and comments section reports Nitride prices firm. Need to see that continue over coming days before any conclusions about rising trends.

V2O5 prices up across all categories.

Ammonium metavanadate up too.

https://www.asianmetal.com/VanadiumPrice/Vanadium.html

Hxulcolrdoh I only post what I believe to be true at the time of writing. Whilst I am very disappointed with the share price (although like others I have taken advantage of it) the progress made by the company in my earlier posts is as I described it. By all means challenge that with evidence if you wish.

More often than not I clearly state that these posts are just my opinion, which is actually why these forums exist. I also advise people to DYOR. Do you do either of those things in your posts?

I offer no opinion in the relevant section to the left and don’t give specific share price forecasts.

Like every other poster here my expectations are not always met in reality but long term I expect a very positive outcome, just made more likely by the appointment of the new CEO.

To suggest that my posting has impoverished anyone is very silly. Each individual is free to agree or disagree with me and is entirely responsible for their own buying and selling. As a long term holder every post I make is from that perspective. I am consistent and transparent about my interest here. Wish I could say the same about some of my critics.

Just my opinion. DYOR

Thank you HarChris.

After yesterday’s price rise I see some more strong buying today. Hopefully that will continue as the market recognises the progress BMN is making.

Part 3

The debt incurred to achieve the very significant operational progress already made has been a drag on the share price but the refinancing package to be voted on at the AGM will remove this short term pressure and again the new CEO has made this his other priority. This debt is frustrating but it has been invested in upgrading the production facilities. The benefits will be long lasting.

So BMN moves forward from here in a strong position from the operations perspective and also will bring into full commission the minigrid and the Belco electrolyte production plant in the next month or so. We have a new and very experienced CEO that appears to been dynamic and determined to make BMN a more cost effective and profitable business.

My opinion is that the current share price in no way reflects the potential of BMN and if Craig Coltman delivers I expect to see significant share price growth.

Just my opinion. DYOR

Part 2

Vanchem is less straightforward. In many ways I believe Vanchem will be hugely important to BMN as the company expands its production base. With the potential to operate all three kilns (only the largest Kiln 3 operating at present) there is scope to significantly expand production at site and plans for staged growth are already in place to achieve this as and when affordable. The new CEO may of course review that.

What Vanchem already brings to the table is a much greater diversity of products including specialist products for aerospace and vanadium chemicals, both of which sell for premium prices as high as $100 kgV albeit in small quantities. Vanchem is 100% owned by BMN. Vanchem will be key to the longterm goal of 8000 mtV group production.

Expansion of Vanchem has not been without problems and initial commissioning of Kiln 3 in 2022 did not go as planned and required consultants to be brought in to resolve production problems. That has had a significant impact on production in 2022 and also meant higher costs. However the plant has made progress and by March April was running at a rate of 420 mtV per Q and hopefully we will see that confirmed in Q2 results around end of July. That should also e reflected in lower unit costs.

Unfortunately and unlike Vametco Vanchem was impacted by load shedding to the point where 200 mtV of production was lost in H2 2022. The lost production through load shedding and the commissioning issues above had a significant impact through lower output and higher costs and that alone will have contributed to BMN losses in 2022. The good news is that local agreements have dramatically reduced load shedding, perhaps to zero. I am pleased that the new CEO has prioritised raising efficiency at Vanchem and hopefully will get production close to target. Expect significant fall in costs.

Part 1

As I have said on numerous occasions BMN have invested a significant amount of money and time I upgrading the two vanadium processing plants. This was absolutely necessary if they were to grow the business across all vanadium sectors and transform the company into profit and shareholder value.

Those upgrades have achieved their target at Vametco with sustainable output and costs reduced. Much of the Nitrovan that plant produces is sold into the US market at a small premium to FeV and where Vanadium prices have remained significantly higher than in Europe and Asia.

Vametco is important to BMN as it represents their first step into production, achieved at far lower cost and in much less time than for example building from new at Mokopane (which at the time did not have a mining licence anyway). Vametco was purchased complete with the mine to supply the plant and BMN also have the Brits project which is the along strike extension to the mine, thus ensuring a supply of good quality ore to the Vametco plant for decades to come. If there is a down side under South African law because Vametco has its own mine BMN ownership is restricted to 74% which they have acquired in full.

Thanks for that research Squirty. Gives a bit of clarity to the situation.

The appointment of the new CEO Craig Coltman should turn out to be a very positive step by the BoD. From the RNS:

“The Board of Bushveld Minerals is pleased to announce the appointment of Craig W. Coltman as Chief Executive. Craig has vast experience in the mining industry. He served a distinguished 32 years with De Beers Consolidated Mines in operational and commercial roles with his most recent role being that of Chief Financial Officer and as Executive Director. Craig is also the Chairman of De Beers Pension Fund.”

From the recent video interview he appears to be very dynamic and brings a wealth of mining and financial management experience to the BoD. In my opinion he has wisely identified completion of the re-financing package and achieving cost effective and sustainable production at Vanchem as his first two priorities.

The first of these is progressing towards shareholder approval at the AGM and that will ease concerns about short term debt repayment. Hopefully Vanchem output will move closer to 500 to 600 mtV and combined with relief from load shedding (apparently achieved) this will both reduce costs through efficiencies and economies of scale and raise margins and revenue.

Vametco is functioning well so any improvements at Vanchem will have a positive impact of group costs and therefore profitability. Within a month or so both the minigrid and Belco electrolyte plant will be fully functioning and will impact on both costs and revenue, although how much we have yet to find out.

If the CEO delivers on these two priorities that should improve market sentiment. It will be interesting to discover his thoughts on the way forward beyond that.

Thank you Beginerman. Lesson learned!

So with costs down from six months ago production up, dollar rand etc) 2023 looking so ,UCH more positive than last year!!