Member Info for Pdub

People think I blinded supported FM. Well I cannot be held accountable for their ignorance.

In the early days Fortune connected well with pi’s and laid out a clear vision to build a vertically integrated vanadium platform. I supported that plan and he went a long way to delivering it.

Recently I believe the complexity of the business plus external factors allowed finances to get out of control (wonderful thing hindsight).

Many here were keen to support Craig without even knowing his plans, and quick to blame Fortune for everything. I was prepared to do neither.

Today’s presentation was exactly what I wanted to hear from Craig. Clear and detailed plans including the energy business. Now that he has laid out his vision I am ready to fully support him in the way that I supported Fortune.

JAdams5000 I apologise … for taking so long to filter you. That lapse in concentration has now been corrected.

“ what I said is surely what any intelligent investor wants to know. What are the final settlements for each of those issues. ” that is my position.

Questions like what happens to the VRFB-H stake and what will be the Orion issue price and therefore SPR issue price?

Much to be resolved as I said previously.

FM had to prove himself to me to gain my support for the concept of vertical integration.

Similarly Craig will have to prove himself. I will judge on evidence.

Erm faramog what I said is surely what any intelligent investor wants to know. What are the final settlements for each of those issues.

If you are yet another that wishes to pursue the FM vs Craig line that is fine with me.

As I have said before I am forward looking but that involves needing the details of those deals. Big test for Craig? Of course. Didn’t say it would be easy.

100% agree with your post HarChris. And he may well be permanently excluded. I will make up my mind on that later.

AimWolf in response to an earlier post of yours I gave you my opinion of the RNS. In return you have sunk to provocative statements and personal attacks.

Congratulations for falling below my standards threshold. For the time being you are filtered for the worst of all reasons… being boring.

Bye.

AimWolf I have said before that I only post what I believe to be true at the time. I have also said that I am waiting for resolution of Orion, SPR, MUST and BE before judging Craig’s performance. None of that was resolved today so nothing new to add.

I am pleased that Vanchem is doing well but not surprised given the investment over the last year or so.

SPR are the key factor here. As Fortune did (MUST), Craig has chosen a partner whose future performance will have a significant impact upon BMNs success.

If Craig’s judgement is sound and SPR deliver on all aspects of the deal, including as you say the marketing, then the future for BMN looks very good. Key will be the Highveld Vanchem Mokopane link.

I am supporting Craig but also will be watching what he delivers from Orion, SPR and MUST.

We also await the switching of Vametco minigrid, contracts and electrolyte production at BELCO and hopefully strong production numbers and reduced costs at Vanchem in Q3 Update.

AimWolf that is exactly why the Orion and SPR deals are being done. To ensure the survival and future profitability of Bushveld. It is always difficult to talk of guarantees into the future. However there is a high probability that these deals, whilst being painful, will be successful in helping to deliver a leaner and profitable BMN.

Short term I am not particularly happy about the valuation of Mokopane and 50% of Vanchem. However if SPR deliver on the longer term commitments in the deal (Highveld, Kiln 1,etc) then at that point the deal will be very good for BMN.

Meanwhile we just have to wait for the final outcomes of Orion, SPR and MUST.

Excellent summary SquirtyFlower.

Should include updates on progress which hopefully will include Orion, SPR and / or MUST Enerox

Good to see that Larky. Let’s hope it continues.

Samval you may remember that yesterday I wrote the following at 07.16 in response to one of your posts:

“Don’t confuse the current V price with the long term trend. The v price can be quite volatile and is capable of bouncing back quickly and sharply. “

I am sure that some here will forgive me a smile when I read Larky’s post! Of course one day of rises is not a trend but ….

https://www.asianmetal.com/VanadiumPrice/Vanadium.html

Somval I do what everyone does on LSE bbs. I express my opinions. Unlike most people I clearly attach a health warning “just my opinion” and more recently for emphasis “DYOR”.

What gives you the right to start telling me where I can and cannot post. How dare you. Such arrogance. You are not the bb police. I suggest you stop berating other posters and in this case focus on BMN and Vanadium.

Another bb bully to add to the filter list.

Samval give your poisonous personal attacks a rest mate. You are being very tiresome and saying nothing that trolls haven’t already said.

Like most people I use this bb to express my opinions about BMN and Vanadium and to read the opinions of others on the same. You can agree or disagree with them, that is up to you, but cut out the personal cr*p.

Samval as you have addressed me by name I will exercise my right of reply.

Let’s deal with Telegram Groups first. I am a member of three and recognise that each has its rules. I obey those rules. If you were removed from a group it will be because you did not obey those rules. Your choice. End of.

Next the comments aimed at me. Those are your opinions. I disagree with them. Not getting involved in pointless personal attacks.

Now to the proper content of your post.

Orion. Until recently there was no doubt about the Orion 6p issue in my opinion. However the MUST backstop shares, issued as a result of the failure by MUST to meet its obligations, and the recent SPR announcement may materially affect Orion’s position. I am now of the opinion that it is possible that a renegotiation of terms may be taking place. Mug’s game attempting to predict the outcome. Just have to wait for result.

Long term V price. On this I have to challenge you. Your comment: “early this year or late last year that V outlook didn't look good to me long term”

First of all let’s define long term. This is not weeks. It is months and years. The demand for vanadium is still largely for rebar and that demand as we know fluctuates, causing rises and falls in the price. However VRFB contracts are increasing and this will lead to the demand for vanadium electrolyte increasing. This is likely to be a significant driver for rising V prices long term as it forms a greater proportion of vanadium demand.

You claim to have taken a position back at the turn of the year that long term v price did not look good. For reasons given above I certainly would disagree with that. More importantly so does every industry analyst I have read both then and now. And BMNs own analysts (SP Angel, ARC, RBC and BNP Paribas) all have 2023 realised V price for 2023 between $35 and $40 kgV and $40 for 2024.

It would seem that those that should know more than we do disagree with you.

Don’t confuse the current V price with the long term trend. The v price can be quite volatile and is capable of bouncing back quickly and sharply.

In most of my posts I regarded 2021/22 as a period of investment in Vanchem and Vametco and identified 2023/24 as a period of potential return to profitability on the back of rising production, decreasing costs and rising V price. Despite recent developments I still see that as the most likely outcome over that two year period.

Just my opinion. DYOR.

Not everyone agrees that the global steel market will contract. These are comments from analysts and market participants published in the last month. I offer no opinion.

August 2023

“Overall, the Steel market is poised for continued expansion in the coming years due to the increasing demand for sustainable and innovative products, as well as the widespread adoption of technology. By 2030, the global Steel market size is projected to reach multimillion figures, displaying an unexpected compound annual growth rate between 2023 and 2030 when compared to the figures observed in 2021.”

August 2023

“The global flat steel market size was valued at $513.55 billion in 2022 & is projected to grow from $433.83 billion in 2023 to $734.77 billion by 2030...”

August 2023

“Structural Steel Fabrication Market was size valued at $ 6.111 Billion in 2020 and is projected to reach $ 9.78 Billion in 2028, growing at a CAGR of 5.36% from 2021 to 2028.”

September 2023

“Structural Steel Fabrication Market was size valued at $ 6.111 Billion in 2020 and is projected to reach $ 9.78 Billion in 2028, growing at a CAGR of 5.36% from 2021 to 2028.”

September 2023

“The global steel market size reached US$ 907 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,077 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.”

September 2023

“Steel rebar futures rose past CNY 3,825 per tonne in September, the highest since April, as new data from China dimmed concerns of low resource demand from the world’s top steel consumer. Industrial production, retail sales, unemployment, and new yuan loans were better than forecast in August, raising hopes that a series of economic support measures from Beijing could dampen the country’s housing slump and financial contagion worries, improving the outlook for commodity demand”

AimWolf is that comment for me? You need to be specific.

Assuming it is then I find that comment rather strange. You post the Betamax cliche. I simply posted what the industry thinks. I didn’t even voice an opinion and certainly didn’t say troll. Merely posted evidence that conflicts with your opinion.

If your reaction if aimed at me was a bit over the top?

One poster thinks this is a Betamax moment for VRFBs. No explanation. Just a Betamax moment.

On the other hand a typical selection of analyst and industry participant forecasts for VRFB and vanadium market.

“Vanadium Redox Flow Battery (VRFB) Market Overview:

The Vanadium Redox Flow Battery Market Size was valued at USD 298.11 Million in 2022, and it is projected to reach USD 1,214.97 Million by 2030, growing at a CAGR of 19.5% during the forecast period.”

“Vanadium Redox Flow Battery Market is projected to register a CAGR of 19.5% during 2023-2030, owing to the increasing demand to store renewable energy for longer periods of time”

“The global Vanadium Redox Flow Battery (VRFB) market size was USD 242.0 Million in 2022 and is expected to register a revenue CAGR of 19.9% during the forecast period. Rising demand for environmental battery solutions and increasing need for energy storage systems are factors driving market revenue growth.”

“Though there will be increases for vanadium in steel as well as titanium alloying and non-battery chemicals, it is the vanadium redox flow battery (VRFB) which will see the most change in the vanadium market over the next two decades………. The cumulative share of energy storage using VRFB will rise to 7% by 2030, and to nearly 20% by 2040. Though we will see improvements to the ratio of vanadium per GWh, the high intensity of vanadium per GWh of storage means that even a small share in the future is a big deal to the vanadium market.”

“Vanadium Redox Flow Battery Market is estimated to reach over USD 1,214.97 Million by 2030 from a value of USD 298.11 Million in 2022, growing at a CAGR of 19.5% from 2023 to 2030.”

“Global Vanadium Redox Flow Batteries Market size was valued at USD 287.36 billion in 2021 and is poised to grow from USD 350 billion in 2022 to USD 1391.89 billion by 2030, at a CAGR of 21.8% during the forecast period (2023-2030).”

Who to believe. Disgruntled shareholder or those that know something about the VRFB market. The choice is yours.