Member Info for Pdub

And just when the bb was turning positive!

I agree MR.

I have said it several times but I will say it again ... in my opinion 2019 looks like a another exciting year for BMN and its shareholders.

I'll be very generous and call it fickle.

Just an observation but the majority of the negative posts today all occurred before and during the lowest mid price of the day (32.25p). Since then the sp has recovered to a higher close than yesterday and bb has been fairly positive.

Naturally this is just a coincidence.

Nice to see a blue finish.

I would imagine most LTHs with significant holdings will be very aware of the potential value of these shares into the future. They are likely to have quite high targets. I look forward to the day the sp reaches a level to entice some to sell as it means my shares will be worth a lot more than today's value.

Some people do seem to worry a lot. Not a good way to live.

Regards. Pdub.

Official mid price now 33.25p. At yesterday's close 33.00p.

Hope no one sold cheap and lost money this morning!

Daisydog I have 4 shares in my junk draw all of which are worth less than 5% of what I paid for them. All resource explorers and all bought in first year of investing. I regard them as an essential part of my education. I then stopped investing in the resource and concentrated on the people running the business. Best decision of my life.

Made it my business to meet FM (several occasions) and other BoD members. Liked what I found and have supported them ever since. It doesn't matter how good the resource is if the management are useless. And in my experience many AIM BoDs are lifestyle managers.

The BoD of BMN are quite the opposite and are determined to deliver on their business plan. Sometimes that involves delays true, but these guys will get the job done. Their track record speaks for itself.

I spent some time with just FM and Prof Viljoen at one of the shows. The Prof is an expert on the Bushveld and has been involved in successfully developing a Mining company. He knows the business. It struck me that if someone with that knowledge and expertise trusts FM then so can I. The rest is history.

Of course there will be short term issues along the way but I firmly believe BMN will become a successful vertically integrated vanadium play. I intend to be there to profit from it.

Just my opinion.

Regards. Pdub.

Just an observation but I can't help thinking that those voicing their doubts on this bb should be very grateful that they are invested in BMN, one of the best performing shares on AIM.

Had you put your money into most other AIM shares I dread tonhpthink what mental state you would be in!!

Just my opinion.

Going out to enjoy the sunshine.

Very true.

Most of my shares were purchased at 4p ish. For most of the next 3 years I was underwater, at one point over 60% down. Now look at the sp!

All depends on whether people believe in the company and its ability to deliver. I do. And so far I have been right!

... that just 12 months ago the sp was 14.58p.

Anyone who has been here just 12 months is up 121% even after the recent pull back.

Easy to forget with all the concern about dates!

Daisydog give me your cash. I'll buy them !

rxdav and exstatex points duly noted. Many thanks.

Hoping 2019 will be a great year for my investments in ANGS and BMN. That would definitely bring a smile or two!

I do detect positive sentiment returning here. Glad to admit I was wrong about BoD change.

Thanks scallywag. Surgery went well. Fighting hard and about to start 6 months of Chemotherapy.

I have not posted here for some time largely due to having to deal with cancer but also because I was not happy with the boardroom battles.

I will own up to being strongly against the changes but I must admit that communications do appear to be much improved under the new management. If they can deliver on the business plan then I see no reason why my significant investment (for me) at 14p average cannot be achieved and perhaps a profit made.

Encouraged by this morning's RNS.

Just catching up on the bb from last night and this morning.

This reminds me of the witch hunt for FM back in 2015 / 2016 .... and look at what the company delivered in acquisition and sp performance soon after that.

I guess pi sentiment rises and falls like the tide, and just about as predictable. How much is genuine frustration and how much about getting a lower price? Who knows.

If Alfa is right about the mm's being short several million shares then it looks like they are playing a great game at robbing BMN pi's of their shares at bargain prices. Have you fallen victim?

Of course it is disappointing that the dividend policy was not delivered in Q1, but I hope folks aren't over reacting over a date. I am far more interested in the content.

And any increase in production levels ...

And hopefully a recovery in vanadium price ...

Etc etc.

I prefer to focus on what the sp is likely to be in 12 months ... not 12 minutes or hours!

Apologies for remaining positive but apparently it is allowed under LSE rules haha.

All just my own opinion.

Pasha I understand that you may have some difficulty recognising my position so I will spell it out simply for you.

I am a true Longterm Holder.
I look only at the big picture in terms of my investment.
I fully recognise that nothing goes up in a straight line.
I believe that the company have delivered astonishingly good returns for their shareholders and will continue to do so.
I am not concerned by the day to day sp movements.
I am not fixated with dates and deadlines, only with delivering the content of the business plan.

So given that after 5 1/2 years of following BMN and that those are my terms of reference it is no surprise that I am very comfortable with the progress of the company. I have met most of the BMN BoD and Prof Viljoen and they inspire me with confidence in their ability to deliver.

I recognise that there are posters here that I would describe as glass half full types that seem to get stressed by the slightest deviation from the upward path of the sp (perhaps you are one). Those people have my sympathy, but they must expect me to challenge their views expressed on this bb if I see fit. That is what these bbs are for, yes?

So please understand that I will continue to be very positive about BMN as long as that is what I believe. Some of you won't like it but so what. And remember that I have been proven correct over the years, even remaining positive when others were calling for FM to be removed back in 2016. Still makes me smile.

So to finish then I look forward to an exciting 2019 and eagerly await the positive posts from the glass half full contributors once the sp rises again. Hmm

TotalTrader I won't go through every point again. I will select just one.

You do not know the content of the dividend policy. Therefore you cannot know the impact of the policy. Thus when you write the dividend policy won't really change much I have to regard that as a wholly misleading statement based upon nothing. I am disappointed with your inability to recognise that and correct your comment. However I have drawn attention to this and hope that others will draw their own conclusions.

BBN thank you for confirming my criticism of TotalTrader's thoughts on 2019 Ebitda. Exactly my point.

TotalTrader I have to take issue with some of the statements in your 09.14 post.

Let me deal first with the following comment on dividend policy:

"...the dividend policy won't really change much..."

That is a totally unacceptable comment. Do you know the content of the dividend policy? Of course you don't. Therefore like the rest of us it is impossible for you to know its impact on the share price. You should withdraw that comment immediately.

On vanadium prices:

"...unless something happens sharpish to turn the price of vanadium around..."

Perhaps you know more than me but my understanding is that in the short to medium term the supply of vanadium is severely constrained. Therefore the price is likely to be driven by demand. Most 'experts' expected this to be linked to new rebar standards in China. There has undoubtedly been a slower than expected enforcement of the new regulations but it will come! Remember the reasons - weak buildings destroyed in earthquakes causing loss of life etc. Enforcement will come! And I fully expect that to reverse the recent downward trend in prices as a result of increasing demand and perhaps exhaustion of any stockpiles. I am quite shocked that you failed to mention this highly relevant point in your analysis.

Then:

"...assuming a growth of up to 30% this year in output from Vametco..."

Well I am sure the company are concentrating on doing just that. If they are successful in doing so and raise production to around 3300 to 3400 mtV in 2019 that alone is likely to offset any fall in Ebitda due to lower vanadium price. And don't forget increased production may lower production cost per ton. Clearly ANY recovery in the vanadium price will further raise Ebitda.

You also ignore further developments with Brits and Mokopane, and progress with electrolyte plant, never mind Lemur and our shareholding in ATM.

Predicting future share price is a mugs game and I am always suspicious of those forecasting significant downward valuations when the fundamentals are so strong. Any logic behind your forecast I have dealt with above. But you must also understand the role played by sentiment. News flow has not been mixed in recent months. Any positive change is likely to see a return of favourable sentiment and upward pressure on the sp.

Please note I haven't even mentioned BE. Who knows where that may push the sp.

My target has been and remains 75p to £1.50. I note the SP Angel target falls within my own range. Good to have the support of professional analysts.

All just my opinion.

Regards. Pdub.

My best wishes to you reteps. Stay positive. It is your best defence.

Kind regards. Paul.

Jagadish WHEN the dividend policy is published and assuming it is good will you mind people reminding you of what you posted?

I think it will be interesting to see how many of those posting doom and gloom over the last few days suddenly become positive again. Fickle pi's on the BMN bb? Surely not.

It will be even more interesting to note which of those negative posters disappear altogether following good positive news. I'm looking forward to it.

Putting aside the date of publication of a dividend policy 2019 looks like a very exciting year with or without BE developments:

Hopefully increased production figures
Expected increase in vanadium prices
Dividend policy
Full year results
Brits / Vametco resource updates
Mokopane licence?
Brownfield site?
Electrolyte plant updates

Yeah. I can understand the gloomy sentiment ... NOT !

Dav3J '... the usual apologists ...'

Yet another childish slur aimed at fellow shareholders. Please accept that some here see a much bigger picture and are holding for the longterm gains. Why you think you have the right to insult those people is quite beyond me.

Publication of a good dividend policy (whenever) and trust me the same people moaning will be celebrating. Such is the fickle nature of some pi's. Others are a wee bit stronger!

Regards. Pdub.