Member Info for Pdub

Yeeh.

Forgive the momentary enthusiasm.

Lots of buys since info posted. Sp seems to be held back by a few large sells. Sooner or later that brake has to be released.

Grabbed a few more.

Relevant paragraph:

"Workers returned to the job for the night shift today at Bushveld Minerals’ Vametco FeV operations in Brits, South Africa. The strike began on Sept. 5 with workers saying they had not received settlement payments that were agreed to in May to resolve another labor dispute."

This could be this news we have been waiting for. Certainly not yet reflected in sp !!!!

Thanks Alfa. That suggests that it is over? Is this official?

Not sure how accurate this report is (dated 14.Sept) but it does suggest that the agreed money wasn't paid:

"Vametco has been plagued with labor disputes this year. Workers Claiming they have not received a settlement payment agreed to in May, Vametco workers walked off the job on Sept. 5 and apparently still are on strike even though the South African Labor Authority has issued a return-to-work order."

https://intherightvein.com/2018/09/14/bushveld-ups-stake-in-vametco-to-75-as-strike-continues/

I find that hard to believe but if true it may explain why the action started.

Wisha this is the relevant extract from the RNS which details exactly what the strike is about:

"The Company advises that the illegal industrial action relates to claims by the local leadership of the majority union at Vametco, Association of Mineworkers and Constructions Union ("AMCU"), for a payment of cash in respect of an Employee Share Options Scheme ("ESOPS"). The Company believes this claim has no basis. On 23 May 2018, the Company and workers, as represented by AMCU, signed an agreement in terms of which an amount of R20,000 (pre-tax) was paid to each bargaining employee, as compensation for historical payments that could have been paid had an ESOPS structure been in place. The agreement constituted a full and final settlement for any historic ESOPS liabilities of the Company. Furthermore, at the time of the illegal strike, the Company had commenced constructive discussions, led by the national leadership of AMCU in respect of a new ESOPS structure going forward."

That's it.

Dorkingman I'm going to dodge questions on future flow rates. Been involved with the Weald for several years and experienced too many disappointments. Therefore I don't do specific future predictions.

My current stance is that Balcombe and Brockham Kimmeridge have the potential to deliver commercial oil. If ANGS management are able to deliver that then I have no doubt that the sp will be significantly north of here.

I wait patiently!

Sorry forget link:

http://www.energystorageexchange.org/projects/global_search?q=vanadium+redox+flow

DF grid scale energy storage systems are being developed and demonstrated. Look up Vanadium Redox Flow Batteries. Still in early phase of development but it's coming. Check out some projects in link below. Of note is the largest VRFB project in Dailan China.

And wind farms are providing employment in the UK. Just one example is the factory just south of Newport IoW which makes large offshore wind turbine blades.

However demand for oil remains strong (look at oil price) so good news for ANGS if and when they start producing oil in large quantity.

Pigpen my experience is that people can very easily misunderstand written words!! In my opinion the company this time did the correct thing in quickly informing the market of the strike and later providing a more detailed update about the situation.

I would imagine this is a difficult and delicate negotiation. Frustrating as it may be for us I think they would be wise to say as little as possible publicly in order to avoid misunderstandings and raising the temperature!

No doubt they will notify the market when there is something concrete (and hopefully positive) to say.

In 2017 special rose from 1.86p to 8.50p by year end. A 357% rise.

To match that % in 2018 sp needs to reach 38.84p. That would be nice!

At time of writing LSE showing 220 posts today.

I have counted 28 of those as responding to or about our troll. That is almost 13%.

Seems a rather high figure if we are supposed to be following Ophidian''s sound advice.

If the purpose of a troll is to disrupt and distract then this one has had quite a good day.

Report and / or filter works for me.

I agree CG. I have several times stated that a sustainable and fair longterm settlement needs to be reached. The workforce deserve to benefit from the success of the vanadium sales. If Fortune Mojapelo is the man I think he is then he will be working for just that.

However I sincerely hope that they understand the need to return to work before such a settlement can be agreed.

Jogj I agree. In my opinion some very unwise comments have been made this afternoon.

Since the 500,000 went through bid ask on HL went up! Now 25.8 / 26.2p

I wonder what impact the strike will have, if any, on strategic planning at the highest level within BMN? It has certainly highlighted the vulnerability of having just one source of revenue, not just in terms of lost production but also leaving the company exposed to future industrial action.

If we know anything about Fortune Mojapelo it is that he is a superb strategist. Will this situation prompt him to revisit future investment plans, including those at Vametco, and to re-assess potential alternative plans for production of Vanadium elsewhere?

We know that he is interested in acquiring a brown field site (some here have discussed Vanchem?) but, given the increasing profitability of each ton of Vanadium produced as prices continue to rise, then does a new plant at Mokopane begin to look equally interesting? Access to any required debt funding should be more accessible as profits become clear. Cash flows from Vametco, once production resumes, will be increasing and could contribute significantly to such a project, particularly as BMN now own 75% of the plant and the profits.

I have no idea if any of the above will be influenced by the strike, but I would be very surprised if the actions and attitudes of part of the workforce at Vametco has no impact on BMN management's thoughts about the future direction of the company.

I hope this action is resolved quickly and that the settlement is both sustainable and fair to the employees, company and shareholders. I can't help feeling that a protracted and bitter dispute will not be in the long term interests of the workforce, potentially impacting on future investment at Vametco.

Fortune has demonstrated in the past that he can be flexible and change direction when necessary. He is likely to take whatever action is necessary to ensure the success of his strategy to build a low cost vertically integrated vanadium platform. All involved should be aware of this.

All of the above is just my opinion.

Regards. Pdub.

SOTRR I have huge respect for you and am always interested in reading your opinions, most of which I find myself agreeing with.

Keep them coming!

Regards Pdub.

Ah that's better. The noise has gone.

Perfectcadence I don't mean to be patronising to you but you have completely failed to understand the point I was making. I have no idea whether your failure is due to deliberate disruptive antics or a lack of intelligence or any other reason. Frankly I don't care as you have nothing to say of interest to me.

I am sure your relentless negativity has not gone unnoticed by other readers.

Sadly I have to say goodbye to you. Permanently filtered.

Sigh. SOTRR this is exactly the point. Thank you for demonstrating it so effectively!

I would have thought the most important point from this morning is broker target raised to 34p+ with possibility of over £1 Iforces remain high. We should be celebrating that and drawing it to the attention of potential new investors.

Yes SP Angel do have a habit of making mistakes in their notes and they shouldn't ... but so what? It is the positive bit of that note that we should focus on.

However for what it is worth I believe broker notes have little effect on pi''s. I wonder other than BMN shareholders how many pi''s have actually read it? Very few I should think.

And as for finding out what the latest broker forecast is try going to BMN pages on LSE, MoneyAM and HL and look up broker forecasts. They were very out of date last time I looked!

Regards. Pdub.