Just to be clear and for the avoidance of doubt, if I use the word 'made' in context of profit, I am referring to my paper profit, not realised profit. I don't have a realised profit as I still hold all my shares. Again not a boast ... just providing clarification for those that think they need it.
I notice that has been completely misconstrued. I hope that makes things crystal clear.
To daisydog, calamari et al.
I know only too well what it is like to be underwater. I was down by 50% or more for about 2 1/2 years in BMN. I suspect that at least matches anyone's negative situation here. Not nice to be underwater but then my last three buys have all been significantly above the present sp. If the investment was made as a result of good research the present sp should not be anything more than an irritation.
Now, in response to the comments, a wise person would first read a post carefully ... all parts of it .... And also consider the context.
To help those that can't be bothered to think for themselves my post was a response to another poster referring to truckloads of money being made elsewhere. As this is the BMN bb I felt it only fair to point out that those longterm holders who had the patience to hold have also made truckloads of money through proper investment. That was no brag (stupid comment) but merely a statement of fact dressed up in colourful language.
Secondly I went on to say that I expect those new investors to also enjoy great returns if they have the patience. Strange how my critics forgot to mention that!
And yes I am a longterm holder, not a trader (5 1/2 years + already). This is a life changing investment for me and I expect so much more to come. I could take the profit. I could have taken the profit when sp was 45p +. However as my current target is 75p to £1.50 that is not part of my strategy. I hold all my shares long and strong.
Criticise me if you wish, but make sure your criticisms are valid and fair ..... if not then expect to be ripped to pieces lol.
Just my opinion.
I am proud to be invested in a company that has not only given me a great return, but through its future expansion plans will bring employment and revenue to South Africa. Not to mention that through BE we may also help to bring reliable supplies of power and light to those that desperately need it.
If in a small way that contributes to greater political stability in SA then even better.
Some BMN positives to watch out for in short term outlook:
Q3 JSE listing, opening up opportunities for SA investors.
Q2 update / Interims hopefully showing that production has increased at Vametco, as indicated by the March figure of 270mtV.
Completion of Vanchem acquisition, adding a little under 1,000 mtV pa to BMN production.
BE news, perhaps including update on electrolyte plant.
Possible share buy back??
Happily read additional positives ahead that I have missed out.
And of course a much anticipated reversal of the V price!
Just my opinion.
Faramog one of Fortune's qualities that I admire is the ability to adapt to changing circumstances. I think the "fannying about and missing deadlines" as you put it was a response to a couple of significant factors.
The first was the declining V price. Vametco is still very profitable even at today's prices but there is no doubt that this will have affected margins and projected cash flow.
The second was the negotiation for the purchase of Vanchem, which as we now know requires a significant input of cash (though still incredibly good value in terms of the company's long term plans).
These two factors would almost certainly have put the squeeze on any potential short term dividend payment. Hence the moving deadlines and the statement about future dividend payments.
So for what it is worth I think Fortune was absolutely right if he did indeed delay a dividend payment in order to facilitate the Vanchem acquisition, even if that risked disappointing some shareholders. Of course I could be wrong on all of my assumptions!
Just my opinion.
Canute it's not the share equivalent of compulsory purchase. My understanding is that it would be on the open market. They would only buy from willing sellers. Your shares are safe!
However I do believe the company have bigger fish to fry ie investment in Vanchem etc, so whilst not ruling out a buy back at this point I am not sure that it is a high priority, unless of course they can use shares in treasury to sell in SA. Not my area of expertise
Thanks SOTRR. doing as well as can be expected. Half way through chemo with some annoying side effects on hands and feet, making walking and playing guitar painful (not just to the listener haha).
Next week I have my first scan since surgery in February. Bit nervous about that. Anyway mustn't grumble ... I'm still here!
And trying to as positive about life as I am about this great company BMN.
SOTRR true that BMN sells into the market and theoretically can influence the price. However reality is somewhat different. We supply a relatively small amount of product and I suspect a large part of that is sold under contract. The contract price I believe runs 1 month in arrears?
Whatever influence BMN has on V price is very small. Otherwise surely they would have exercised that power to prevent the large fall in V price!
I think in practical terms I stand by my comment that BMN cannot control the V price. The market does that.
What BMN can do is use the profits to build the business, increase production and diversify the production locations, reduce costs and expand their product lines. And that is exactly what they are doing. I am very happy with that.
Just my opinion.
Glad you posted that Alfa. My gut response to the article was Luddite !
One question the article does not address, and it's the big one, is what happens if we don't switch from hydrocarbons to renewables or other forms of energy?
The issue is most certainly not just mathematical. It's environmental, political, social, etc.
Bearscarer I am sorry that you appear to be worried about a cheap takeover. I don't share that fear at all!
Fortune and the BoD would certainly oppose that. I suspect that well over 50% of shares are held by pi's, many of whom are longtermers and would likely oppose it and I suspect some of the major shareholders are aligned with Fortune and would oppose it.
I am not aware of any evidence of anyone building towards a 30% stake in the company.
In fact I see no evidence of a cheap takeover. This fear raises its head on most bb's at some point, yet in all the shares I have been involved with it has never come to fruition.
My advice is relax and stop worrying about takeover. Just enjoy the ride as BMN grows.
Just my opinion of course.
Bearscarer as a longterm holder I have to disagree with you about sp growth. I'll let facts do the talking:
Today - 25p
1 year ago - 20.8p
2years ago - 8.15p
3 years ago - 1.75p
I am interested in where the sp will be in another 12 months. The pullback from recent highs has clearly been driven by the fall in V price. That is completely outside the control of BMN. Fortune is rightly focussing on what he can control ... building the business. He cannot control the sp.
The BoD must focus on the business and not be distracted by the (perhaps understandable) impatience of shareholders.
I would like better PR from the company. I would like the company to abandon quarterly updates, except for production numbers. I would like a big juicy dividend payment. However as a genuine long term holder not too concerned with daily sp those things are NOT what I need !!!! They can wait.
What I need is for Fortune to focus on increasing production, diversifying the production sites and expanding the product range .... ie building the business because that is what he is good at. And that is exactly what he is doing. And I want him to use profits for reinvestment to minimise dilution and debt ( currently no debt!).
Expanding the business in timely fashion and with sound finance is what is in the best interests of all longterm holders. Fortune is most definitely acting in our best interests and I see a very exciting 2019 / 2020.
Just my opinion.
Very pleased to see SP Angel giving the company a renewed vote of confidence with the 90p target. Indicative of things to come and should give shareholders a small boost in confidence. After all they are likely to be closer to management than most of us.
Faramog of all people on this bb I think Alfacomp fully understands that!
The energy produced from solar is however free once the infrastructure is in place. That is what he was referring to. Excess solar energy has little if any cost, whereas any unwanted energy from burning fossil fuels comes at financial and environmental cost.
Expert I am afraid that if you think that TP is the only one in the know that has expressed those opinions about structural deficit and future likely rise in sp that simply demonstrates either how poorly researched you are or that you are up to mischief. I believe the former but I can't rule out the latter.
Now please provide ANY counter evidence to the detailed analyses that have been provided by TP and others and I will be interested. So far you have not. Anyone can express an opinion, but if that opinion is uninformed and based on nothing it should not be taken seriously.