Member Info for Pdub

Worth pointing out that Vametco is one of only 3 primary vanadium producing plants outside of China. Demand for Vanadium is rising but there are significant constraints on the supply side and that has sent the price upwards with little sign in the near future that I can see of any significant reversal.

A perfect storm, with BMN and its shareholders ideally placed to benefit from this. Of course one has to be in it to win it! Just my opinion.

To potential new investors who may be wondering if a company that has seen its share price rise by around 200% in the last few months is worth investing in. Well here are are what I believe to be a few key points that suggest that this share has a long way to go. (Just my opinion of course)

26% interest in Vametco Vanadium producing plant acquired April 2017.
No controlling interest thus BMN cannot show Vametco profits in 2017 accounts.
December 2017 BMN acquire YD shares in Vametco, raising stake to a controlling 59%.
Vametco profits will show in BMN 2018 accounts.
Vametco on target to produce 3680 mtV in 2018
Vanadium price in H1 average about $60,000 mtV ($60 kgV)
Vanadium price in H2 so far around $80,000 mtv ($80 kgV)
Vametco production cost 2017 $16,600 mtV ($16.6 kgV)
CEO stated Vametco capable of generating Ebitda of $150 million in 2018 at average Vanadium price of $60 kgV. In my opinion could be greater if Vanadium price remains at the $80 kgV level.

The stunning rise in Vanadium price since BMN first acquired an interest in Vametco has prompted the description of Vametco as a cash cow (upgraded by some on this bb to cash elephant!)

A 3rd phase of production expansion at Vametco expects to achieve a rate of 5,000 or more mtV by 2019. It is possible that BMN is negotiating to acquire a further 15% of Vametco but this has yet to be confirmed.

BMN has a number of other potential very lucrative projects but this is the one that is currently generating large revenue, and from the figures above it can be assumed also large profits. Remember this does not show in 2017 accounts but will be recorded in the 2018 accounts for BMN. Seems to me to be a great time to invest.

Worth thinking about where you may think the sp is heading. My own target is 75p to £1.50.

Other than facts issued by the company the rest is purely my personal opinion and not to be regarded as investment advice. As always DYOR.

Regards. Pdub.

Knuttie out of respect for you I will not write what I think of your post.

I will say that Coffeecups chose to post a rude and negative comment about Mr Meyer on what was a generally very positive day. It provoked a response!

There are a small number of posters that keep raising the subject of Mr Meyer. Now it is one thing to disagree with his sp and vanadium targets (I do too) but it is quite unacceptable to put up rude or insulting comments about him, particularly as the man is unable to defend himself on the bb. I don't like that type of childish behaviour and therefore I chose to counter it.

I don't need you or anyone else to tell me how to do it, but the style of my responses is deliberate and reflects my thinking on the subject.

Now if you see fit to continue with this unnecessary topic please do so, but I am bored with it and will now focus on the very positive story of BMN.

Regards. Pdub.

Coffeecups I am hoping for another positive day today. Try to appreciate that and don't be so negative. Have a nice day.

Regards. Pdub.

Goblesmythe it has been a positive day on the bb, with no visits from the usual idiots and the sp finishing blue for the 8th out of last 10 days, in spite of some large round number sells, and confirmation of long overdue rewards for our excellent CEO and team.

Sadly a poster saw fit to put up a negative post about Mr Meyer, somewhat spoiling a positive day. If you wish to play with that toy please do it quietly and don't disturb me.

Many thanks for your future consideration.

Please note that once again it was not me that raised the subject of our friend and supporter John Meyer. This time I shall leave the children to play with their toys.

For those interested in FM salary and fees for last 3 years, and just what good value we shareholders have had from the man:

To 31 Dec 2017 £91,667 (10 months))
To 28 Feb 2017 £108,333
To 28 Feb 2016. £108,333
To 28 Feb 2014 £155,333

The principle beneficiaries of the remuneration shares voted today are as follows according to the 2017 Financial Report:

FM 7 million shares
AJ 7 million shares

Interestingly Professors Richard and Morris Viljoen are each granted 270,000 shares but no fees. I think it is fair to say that the importance of their geological knowledge and experience is very much under valued on this bb.

Alfa that was a superb answer!

I wouldn't be surprised if it is deferred. I would be shocked!

SCC have no grounds upon which to refuse or defer. Everything has been dealt with. As has been said before this is retrospective planning for an existing sidetrack !!

I note a late trade worth £111 k and a sell.

Are we really discussing TW's views on this bb?

I am truly surprised at low we are capable of going!

Vanadium is the language of profit .....

Good point Ophidian, supported by the fact that 7 of the last 8 days have been blue days. Not too bad!

With you on that Alan.

Mind you if SCC go negative on this they would be playing a high risk game given the Planning Officer's report and recent Government guidelines. Under those circumstances I would think that it would certainly go to appeal and SCC would lose.

Alan your last sentence is the relevant one.

Anyway at least the nonsense has been well and truly exposed.

Alan with your experience in the oil industry and my geology background we both understand that it is unscientific nonsense to link the Surrey earthquakes to activities at Brockham, Horse Hill or indeed any other Weald oil site. However not everyone has that experience and could be misled by the fake news. I would like to think that the discussions and posting of links to comments from SS, Angus, BGS, Southampton University, etc has helped to reassure any waverers.

Had the issue not been so comprehensively torn apart I would have given my own explanation but I don't feel that is now necessary.

On HL 26.685 / 26.80p

For the benefit of potential or new investors and to get the day off to a positive start I would like to repost this comment from June by AlastairMcgrift, a poster who has my respect for his excellent contributions to this bb.

"Luck is really important and fortune has it in spades to compliment his skill set.
In the last two years he has led a company to buying a great asset at a knockdown price when no one wanted it for a metal that was in the doldrums in a country that was seen as uninvestable. That metal is now on course for all time highs and the asset is suggesting $150m ebitda with a change in the political scene that shows mining as being the chosen industry. Today's mining charter news is great in that it makes us very close to ending the uncertainty which will always be a drag. This is all at a time when the Chinese have sought to dictate that vanadium is fundamental to their steel industry and the next big global growth story in energy storage. Also eskom, the seventh biggest utility in the world wants energy storage and seemingly has identified vanadium as being a possible answer.
Then on top he has a coal asset in a country where the politics has aligned to seek power in the south of the country so happen to sign agreements and the Chinese happy to be part of it.
This mix of luck and skill has put us investors in an phenomenal position where if you can afford to hold this is a truly life defining share where even the smallest holding can provide a stunning return."

That is a great summary. Many thanks AlastairMcgrift for writing it.

Regards. Pdub.

Bonker that is nonsense.

Clearly you are going to fight your losing corner all night long.

You have a responsibility to learn the fundamentals of companies you write about in order to avoid putting out misleading information. In this case the change from explorer to highly profitable producer is critical, yet you defend the indefensible.

However I must thank you for confirming my scepticism about the value of TA when applied to relatively small AIM companies.

That is all I have to say on the matter. Time will tell whether your concerns were justified or simply misleading. Please visit the bb at end of 2018.

Bonker I will declare my hand in the sense that I do not believe in TA and today's discussion fully justifies my stance.

As far as "being attacked" no that is not what I think. I believe your 'work' was highly misleading. When I asked you some very basic questions about the company you clearly couldn't answer any of them. I have nearly five years of research on this company so don't need you to lecture me on the need for that.

I would like to think that the answers that I provided you with would have given you food for thought but I doubt you even looked at them.

For what it is worth I didn't comment on your 'work' earlier. I only engaged when you decided to post on this bb. I deliberately posed a number of questions to establish your level of knowledge of the company. Clearly not much. If you believe in charts that is fine and I wish you well. However when your work is so misleading about my investment then don't be surprised when you get challenged.