Member Info for Pdub

Thank you MIKINAMAN. You are a very naughty boy!

Chemotherapy started on Wednesday so no celebrations tomorrow. Deferred for 6 months at the end of chemo.

Regards. Pdub.

Expert I posted this yesterday, in rather sharp contrast to your posts this morning!

"I admit to being surprised by the speed of the fall in vanadium prices. According to the graph on TBP vanadium prices took about 11 months to rise from $50 kg Fev to the end November peak, but only half as long to fall back to around $50.

This feels like a significant over correction in the price.

Several reasons have been discussed here. eg stockpiling pre China rebar regs being sold off, winter shut down of some Chinese steel plants reducing demand, slower than expected enforcement of new Chinese regs, etc.

However none of these represent a long term impact on the structural deficit in the vanadium market. Eventually Chinese steel production will have to conform. Stockpiles will be exhausted. Winter shutdowns coming to an end.

Unless someone can correct me with specific examples I am not aware of any significant short term increases to production from existing plants or new sources coming on stream to boost supply and end the structural deficit. Nor am I aware of any significant longterm reduction in demand from the steel industry. And of course we are seeing the beginnings of demand for VRFBs which should gather pace in the coming months and years.

I am no vanadium (or any other metals) market expert, but simply applying logic and common sense I fail to find any other conclusion that the V price will bottom soon and start a recovery. No doubt this will be reflected in more positive comments on the bb and an increase in share price.

Any improvement in productivity at Vametco would no doubt add to the excitement. Hopefully not to long to wait for Q1 figures.

All just my opinion."

Regards. Pdub.

Didn't bother answering that character. Just reported every post last night with a request on each report to check identity. Admin on the ball again.

Beautifully put Pigpen.

Charlie I refer you to my post earlier on the likelihood of a recovery in the vanadium price, which I expect to happen.

If you can point me to any change in the market dynamics of reduced demand or increased supply I am all ears.

I admit to being surprised by the speed of the fall in vanadium prices. According to the graph on TBP vanadium prices took about 11 months to rise from $50 kg Fev to the end November peak, but only half as long to fall back to around $50.

This feels like a significant over correction in the price.

Several reasons have been discussed here. eg stockpiling pre China rebar regs being sold off, winter shut down of some Chinese steel plants reducing demand, slower than expected enforcement of new Chinese regs, etc.

However none of these represent a long term impact on the structural deficit in the vanadium market. Eventually Chinese steel production will have to conform. Stockpiles will be exhausted. Winter shutdowns coming to an end.

Unless someone can correct me with specific examples I am not aware of any significant short term increases to production from existing plants or new sources coming on stream to boost supply and end the structural deficit. Nor am I aware of any significant longterm reduction in demand from the steel industry. And of course we are seeing the beginnings of demand for VRFBs which should gather pace in the coming months and years.

I am no vanadium (or any other metals) market expert, but simply applying logic and common sense I fail to find any other conclusion that the V price will bottom soon and start a recovery. No doubt this will be reflected in more positive comments on the bb and an increase in share price.

Any improvement in productivity at Vametco would no doubt add to the excitement. Hopefully not to long to wait for Q1 figures.

All just my opinion.

Regards. Pdub.

Good update on Lemur.

As far as the Vametco update is concerned posters jumped up and down when no info was released about delay to Dividend Policy. This update I believe is in direct response to that. If the resource update may be delayed then the company have done the right thing and flagged that up to the market. Well done FM.

Morning goblesmythe.

If you need further clarification on my post from yesterday I think Endion's post at 23.52 perfectly summarises it. Hope that helps.

Regards. Pdub.

Clearly there are one or two 'shareholders' that don't seem to have much faith in the BoD. Odd but true.

What is interesting is the large number of £20,000 Bed and ISA paired trades going through. This suggests that many shareholders are very confident where BMN and share price are going.

Firstly they are using their enitire 2019 ISA allowance for just one share ... BMN !
Secondly they must believe that the share price rises in the future will justify using this tax efficient vehicle to reduce any future CGT.

In my opinion they are wise to do so!

Again in my opinion 2019 looking very exciting.

Regards. Pdub.

And a 250,000 buy. Nice.

Surely it was the 200,000 buy that took the available shares up.

I avoided it pb!

Regards. Pdub.

Just my opinion but FM is a brilliant strategic thinker, looking much further into the future than most of us. One of his skills in this respect is the ability to be flexible and adjust to changing circumstances.

This has certainly worked in shareholders's favour in the long term but one negative aspect has been that sometimes BMN are slow in communicating change. Not everyone is happy with that, perhaps understandably, but the criticism is frequently overplayed particularly with regard to deadlines. Frustrating as missed deadlines are they have proven to be insignificant in terms of BMN 's longterm development and sp growth. It is an imperfection that I have learned to live with and therefore get less stressed about than some on this bb!

On the positive side this ability to change course has brought with it considerable benefits to shareholders. The first major shift was the move from iron ore explorer to vanadium. Remember how everyone got frustrated about the lack of info about our Chinese friends, yet the real story was vanadium.

Then Lemur. The first takeover attempt failed. Rather than give up FM changed tack and succeeded with the new strategy.

There was the tin tailing story which in the end BMN walked away from as not viable at the time.

Even Vametco required a revised strategy involving YD to get things moving.

There is more but hopefully the point is made. FM will change course if circumstances dictate. I regard that as one of his strengths. Yes I wish he would keep the market better informed and perhaps be more realistic with some deadlines but in the end we as longterm shareholders have benefitted enormously from his ability to respond to changing circumstances. I think I can forgive him for not being perfect!

Delighted to see the management team being strengthened as the company grows and develops.

All just my opinion.

Regards. Pdub.

Audio I am surprised that you do not understand that BMN is NOT just a miner! Good grief give me strength.

They bought the processing plant at Vametco too. They produce Nitrovan. It is an added value product.

Do keep up.

Nice to see a positive move on the sp this morning.

Everyone should be happy with that?

Leafie what exactly are you worried about?

My experience of AIM is that Directors typically promise the earth but deliver little in terms of real long term share price growth. I have been caught out in my naive past by this behaviour.

BMN are very different. They have laid out the big picture in terms of developing a low cost vertically integrated vanadium play and are delivering it in spectacular fashion.

Now it is true that sometimes short term deadlines are stretched and that this is not always communicated well by the company. However what really matters is that the business is growing in the direction outlined by the BoD and as a result shareholders are seeing excellent returns in the longterm. Yes I know some are underwater at present but many of us have been there as I posted yesterday. Share prices never rise in a straight line. But the record speaks for itself over the last 3 years from today:

Sp:

3 yrs ago 2.29p
2 yrs ago 8.03p
1 yr ago 14.58p
Today 34.25p

As I said, some companies promise, BMN delivers.

There have been significant challenges for the company and there will no doubt be more in the future. The point is that FM has a track record of finding a way forward that delivers on the promises and returns shareholder value.

I am very happy with that!

As I said before 2019 looks very exciting for BMN and its shareholders.

All just my opinion.

Regards. Pdub.

Sanchez I agree with you too!

Daitom (apologies for autocorrect)

I certainly agree with you diatom!