Member Info for Pdub

I love this:

"· Bushveld used its existing cash resources to complete the Acquisition."

Yeeeeeehhhaaaa.

Sojitz for $20 million. Brilliant

Also not large holding at 92,475 but call for EGM has my support.

Thanks Clark.

On the 19 August Ophidian posted an excellent comment that received much support. It contained the following paragraph which I hope Ophidian won't mind me reposting as it seems appropriate tonight:

"I pledge that I will no longer respond to posts solely intended to spread lies, slander or foster discontent. I may post factual information to identify gross lies when I feel it necessary but if I do so then it will be under a separate thread title and will not seek to directly engage with of encourage the Trolls."

Judging by the mature and intelligent responses (mostly) to the RNS today investors are grateful for the clarification of the situation and supportive of the actions by the bb. Thus nothing has changed from when the sp was around 21p today other than we are all better informed - exactly what we requested from the BoD.

I would not be surprised to see buying tomorrow and a rise in the sp. That would certainly be what I would expect as a response from the very well informed shareholders in BMN.

Personally very encouraged by what may be a new approach to PR from the company.

Looking forward to a blue day.

Regards. Pdub

If I take the RNS at face value, and I have absolutely no reason not to, then I do hope that the local union leadership are not misleading their members. In theory this could lead to some losing their jobs, an outcome that surely no one wants. The company appears to be taking reasonable steps to achieve a fair deal for its workers.

I am very encouraged that BMN management seems to have realised that they must inform the market of relevant issues in a timely manner. PR is the only area of the company's activities that concerned me.

1.5 million reasons to keep RP going?

Regent Pacific
CEO salary and benefits in kind as listed in annual reports

2015 page 145
US $1.5 million (+ discretionary bonus US $1.25 million)

2016 page 154
US $1.5 million

2017 page 152
US $1.5 million

Just my opinion but I find the salary of CEO astonishing. Hey ho. My investment of £10,000 nearly 5 years ago now worth less than £3,000.

No need to say any more.

Haha very good point loudspeaker.

Good post Sanchez. Eurocentric views are often expressed on bbs, not just this one. A shame as these simplistic views of other parts of the world rarely do justice the those regions.

SOTRR thank you. This was the point that I was wrestling with earlier. I doesn't matter whether or not we think the first industrial action should have been notified earlier. Fact is it was price sensitive information and has to be notified by RNS under the AIM rules.

I am glad that this time around the market was informed in a timely manner. Better PR too.

I do not expect blow by blow accounts of how the negotiations are progressing but I will expect an RNS saying action over, issues resolved as price sensitive (definitely in my opinion!) and required by the rules.

Given that recent news on Vametco has led to a temporary dip in the share price, I wonder if Chika is now regretting the decision not to RNS the very positive news about the Bushveld Energy grant (understood to be $500,000) from the USTDA towards the pilot VRFB provided by BE / UET to Eskom to demonstrate the performance of energy storage systems.

Bushveld Energy is a subsidiary company of BMN.

Link:

https://ustda.gov/news/press-releases/2018/ustda-supports-energy-storage-south-africa-creating-opportunities-us/

This was great news not so much about the amount but for the support of a US institution for this BE project using US technology. This seems to me to be a very strange decision not to "shout this from the rooftops".

The point is that there is very good news concerning BMN and its subsidiary companies, that also includes:
Q by Q significant increases in Ebitda at Vametco,
positive drilling results at Brits as part of the process that has the potential to result in mining of ore for Vametco at reduced cost and significantly extending mine and production life,
moves against corruption in the administration that issues mining licences eg for Mokopane.

And then there is BMNs share interest in AfriTin as that company moves towards production.

I do think the PR of late has been poor, restricting newsflow to just the quarterly updates. In fact technically it could be argued that by delaying announcements such as the previous industrial action the company breached AIM rules, though I am undecided on this point. We now know after this latest round of industrial action that it definitely affects sp so news should have been released in a more timely fashion in my opinion.

On the positive side I am hopefully that the BoD have learned from this episode as the latest industrial action was reported in timely fashion, according to AIM rules and much more like the Fortune Mojapelo that I have supported.

And I am encouraged that some emails from shareholders are now being answered, and that the most recently reported emails from Chika have contained proper responses to the questions. I hope we don't see a return to what I consider to have been a very unfortunate (some might argue arrogant) approach of saying the company is too big to bother announcing good news like the above mentioned grant.

This has not been a great few weeks for the company. I hope to see an improvement in PR and in particular keep the Q updates to Vametco production and financial numbers. Other news to be released by individual RNSs to avoid over complication and good news buried by bad news in same RNS!

Fingers crossed.

Most importantly the vanadium price remains very high (and likely to rise according to some) so Vametco continues to make large profits from every ton sold. I look forward to resolution of current dispute and to increasing production towards the Phase 2 3750 mtV pa.

All opinions expressed above are just my own. Not intended as in

Well faramog good job we live in a society free from financial dishonesty, mismanagement and corruption.

Unless you count the 2008 banking crisis, PPI scandal (robbery?), fraudulent accident compensation claims, offshore tax havens and tax evasion, fraudulent advisers taking pension money, lifestyle AIM directors, etc etc.

Yep we really are in a position to judge "Africa"

Sorry: "... of the Vametco management ..."

Just a personal opinion but the workers should have a bonus scheme where they have a share of the profits of Vametco with effect immediately and payable in cash to bank, not shares.

In the good years they do well but, unlike with shares whose value can go down, previous profits will have already been paid prior to leaner years.

This plant is ding well at present and the workers deserve a share of that. However whatever solution is found it must be sustainable and fair to workers community company and of course shareholders.

Fortune has in the past been tough but fair in negotiations so I am sure this will be resolved. I agree with Daisan that it is important for Fortune not to be seen to undermine the authority of the Vametco, but perhaps they will be benefitting from his "guidance"!

Block16legend you wrote "The ones that are producing will be filling their boots". Surely you mean those that are selling ! I've read the RNS several times and can't find anything that suggests that Vametco is not selling product.

In Q1 Vametco produced more than it sold. In Q 2 Vametco produced less than it sold. In any Q there is not an exact match between production and sales. I am sure Vametco will still be taking orders for product and hopefully this halt to production will be resolved quickly. I don't know how much market ready stock they hold but presumably some so that existing contracts can be met.

Over-emphasing negatives seems an illogical way to defend ones investment in this excellent company. I am as frustrated as you about the industrial action but I am trying to keep a sense of proportion here.

Regards. Pdub.

Well I am off for a sail for rest of today. Perhaps the fair winds will return very soon for this sp and have everyone smiling again.

Didn't think for one second that you were Nihilfit and you raise relevant points. I am simply stating that they are not new and we have all invested here under that shadow of SA corruption. Perhaps those grey clouds are beginning to break up and allow some sun in. Maybe that is just the positive thinker in me but it has served me very well in this investment. I see no reason to think differently about the future.

Regards. Pdub.

Nihilfit trolls were using this threat back in 2017 when the sp was 8p. Look at it now.

Nothing has changed ... oh except that SA now has a leader who seems determined to stamp out corruption, regards mining as a sunrise industry and wants to attract international investment.

I would argue that investors today should be less "twitchy" about the SA political situation than back in 2013 to 2017. I guess a case of half full or half empty. Time will tell.

Sorry YTSS. Thanks for clarifying. My mistake.

Regards. Pdub.

For clarity: "... for those who have already bought in the 25p to 28p range ..."