Member Info for Pdub

Very true cg. Ramaphosa and Mantashe (you know ... the SA politicians with real power attending Mining Indaba. I see this as a very positive step considering the President's description of mining as a sunrise industry.

SA needs investment so they will be working hard to build confidence and attract the money.

https://www.businesslive.co.za/bd/national/2019-02-04-ramaphosa-and-mantashe-out-to-woo-mining-indaba/

Mine ownership is already covered by BEE. Land issues as far as I can tell are about farmland ... entirely separate matter. And SA has the benefit of a strong and independent judiciary, as we have already seen, so no illegal land grabs.

I see it as positive that this government is working to restore confidence with the mining industry.

Just my opinion.

Regards. Pdub.

Oh yes and by the way there have been extensive discussions about politics in SA on this bb, particularly around the time of Ramaphosa taking control of the ANC. Sorry you missed it.

Most of us have focussed on the positive shift in political direction including, and most relevant, Ramaphosa defining mining as a sunrise industry. Now that is interesting I'm sure you would agree. And coming from a former leader of the mine workers union and also a director of a mining company I think he has a reasonable understanding of the industry.

He has a delicate situation to handle balancing both sides of the ANC, but so far he seems to have done quite a good job.

1onic you must be a barrel of laughs down the pub!

Onefcc good to read a response from someone with real knowledge of SA politics.

Regards. Pdub.

Just a thought but perhaps the SP Angel model utilises their years of experience and an understanding that things don't always go as planned. Thus their conservative numbers actually turned out to be fairly accurate, whichever route they take.

Regards. Pdub.

Nice one Paludina.

Regards. Pdub.

SP Angel made this comment in late November:

"The first Eskom VRFB project is due for completion in December. It sounds as if commissioning is in the new year post the South African holiday shutdown."

Looks like they were correct.

With BMN using quarterly updates to inform the markets, sources like SP Angel should be carefully studied for additional information, Sojitz acquisition being a perfect example, as is the recent comment on the Eskom VRFB.

I am delighted that we now have real progress on the energy storage business and look forward to an update on progress with the electrolyte plant.

Regards. Pdub.

Ophidian as far as I am concerned you are in great form. Please keep going!

Regards. Pdub.

Pboo please ignore your detractors and continue supplying pics / videos. I appreciate them even if no one else does.

Regards. Pdub.

Chambers / baits may I ask you two a question? Do you want the posting of pics / videos to stop? You both seem to be doing your best to achieve this.

Then what happens? Rely on info from the company? Dream on unless they have a major change of policy.

You are of course free to express your opinions but with rights go responsibilities. It's great for you to try to take the moral high ground BUT there are genuine holders of ANGS that do appreciate the photos and videos. I am one. I would be disappointed if your constant hounding if Pboo pushes so far that he stops posting.

If you don't like the videos and photos then ignore them. Do not stop my access to them by winding up those that supply them to the bb.

I am quite capable of judging how useful these pics are. I don't need your 'assistance'!

Bolgas if you wish to continue claiming black is white in much the same way as you have always done that is your problem. When you do it on a public bb everyone is witness to that behaviour.

I have explained to you just some of the CEO's achievements. Anyone with even a basic knowledge of this company can verify that. Your position is entirely untenable but if that fantasy is what you wish to believe then fine.

That is a shame as I had hoped you had changed and were more open to the idea that other people may know a thing or two that you don't. I was wrong. So be it.

Not wasting any more time tonight on a closed book.

Bolgas in case you haven't read the RNS properly this extract should serve to settle the nerves of any reasonable person and illustrates that BMN management are most certainly not sitting on their hands over production issues.

"Phase 2 of the multi-phase project

Ø Phase 2 of the multi-phase project was completed in June 2018 increasing production capacity to 3,750 mtV. During the commissioning phase, production of the new milling circuit was unable to ramp up to the nameplate capacity. Concurrently, there was a reduction in the run-of-mine ore vanadium grades. These events lead to a reduced concentrate production, lower recoveries and plant instability, resulting in the plant not meeting its capacity target.

"Ø The diagnostic review highlighted that no additional capital expenditure is required to achieve a sustainable production of c.3,400 mtV, which represents 90 per cent of the name plate capacity. In order to achieve the production target management will be primarily focused on, among others:

§ Increasing vanadium grade in crushed ore through improved mine scheduling which will result in an increased exposure to ore of higher vanadium content and magnetite;

§ Increasing vanadium grade in kiln feed through improved silica liberation;

§ Increasing kiln availability through improved engineering practices and production throughput; and

§ Sustainably increasing the kiln feed rate."

And nite no additional capital expenditure to reach 3,400 mtV

Correction in paragraph 8 ".. when acquiring Vametco for next to nothing!"

Part 2

Then the second part of his strategy ... to develop a low cost vertically integrated vanadium play. Another example of vision and brilliant strategy. I posted this quote from an article published in September:

"For companies without their own vanadium assets like StorEn, becoming vertically integrated with a reliable producer is key."

Fortune Mojapelo has gone one better ... A single vertically integrated vanadium entity. He announced this plan some years ago. He was way ahead of the market and now it is all falling into place. The model most likely to successfully deliver VRFBs through a variety of financing options, even when vanadium prices are high.

This Bolgas is win win for the company and its shareholders.

So your criticism of the CEO is false and very misleading. I hope now that you are better informed about his achievements and realise just how wrong you are.

Now to the difficulties at Vametco. Remember some of these issues are legacy issues from the Evraz days and some are production stoppages due to plant failure etc. You cannot blame the parent company for this but should welcome the fact that BMN saw the need to reinvest and are implementing plans to raise production.

Not all has gone smoothly but the CEO has done exactly the right thing. Revised targets downwards but also called in consultants to assist with efficiency improvements and initiated a programme of drilling to improve knowledge of the resource and perhaps better target the higher grade sections. Also negotiated a reward scheme with the staff.

All in all a very good track record of delivery in terms of share price and the longterm strategy for the company will deliver diversity of revenue streams and expansion of production.

In light of this evidence and in the hope that you are gracious enough to admit when you are wrong I look forward to you retracting what I consider to be a very misleading comment.

We shall see.

All just my opinion

Regards. Pdub.

Bolgas I am more than willing to give you the benefit of the doubt, even after years of deliberately trolling this bb (in my opinion). I still remember those posts of yours on Red bb where you were quite scathing about people invested in BMN (that was just before the astonishing rise in BMN sp from 1.5p to around 40p over 2 years). We did tell you ... many times!

I also remember the post on Red where you admitted you knew little about the mining side ... well that was quite apparent! Then you kept on attacking BMN on the issue of VRFBs. At the time that was odd because the company was moving towards acquiring a vanadium mine and production plant.

Well the world has moved on. The company is making large profits from Vametco, as we all said it would, and those people you were so scathing about have made huge profits from one of the best performing shares on AIM.

With all due respect it is your performance that I would examine first. Your comment below about the CEO is a disgraceful fabrication and highly misleading:

"however the great CEO has achieved little apart from being lucky with completion of purchase just as commodity prices started a meaterioic rise"

I know you have a poor track record with BMN but I find it hard to believe that someone as intelligent and well educated as yourself could actually believe that, but short of accepting that you are not as clever as I thought then I can only assume a dark agenda on your part.

If you had been paying attention all those years ago you would know that our CEO has played out a brilliant strategy to reach this position. Several years ago the first move was to switch to vanadium and away from iron ore. That wasn't luck, it was a deliberate strategic move supported by the Professors Viljoen, leading experts on the Bushveld Complex. They then acquired Lemur and its cash. Lemur had begun moves to acquire the Brits vanadium project and under BMN that was completed. You may be unaware that FM and AV were also on the BoD of Lemur during this time!

Brits is the along strike extension of the Vametco mine. At a stroke BMN prevented any other purchaser of Vametco from being able to extend the mine life and in all probability gave the company a huge negotiating advantage when acquiring Brits for next to nothing!

Then piece by piece Fortune increased the % ownership of Vametco to its present maximum limit of 74%. This was a brilliant strategy whatever the vanadium price.

Oh and for your information Fortune had been predicting the present market dynamics for some time and be was spot on.

So to say he "achieved little apart from being lucky" I'm afraid merely exposes your astonishing ignorance of how the CEO got the company to this position. In fact we are only benefitting from the rewards of high vanadium prices because of his vision and brilliant strategy plus the determination to deliver. Without that BMN would be another wanna be iron ore explorer.

Then the second part of his s

Welcome audio. Hope your investment in BMN serves you well. Sounds to me like you have the necessary patience.

Regards. Pdub.

You are welcome young man.

I thought you would have sufficient self confidence to answer 1onic. I apologise for over-expectation on that score.

With respect young man I will assume them to make mischief.

1onic why are you posting here? Are you invested?