Member Info for Pdub

Capablanca a little bit of feedback for you. I will post in whatever style I wish. Please filter if not happy.

pb940 sincere apologies. I missed your post.

In answer to your question I claim no financial expertise or experience so my valuation is purely a personal opinion. My 75p to £1.50p is based purely on Vametco and on the assumption that they progress towards their target of 5,000 or mtV pa by 2019 and that vanadium prices remain high ($60 + kgV) throughout that period.

I have not allowed for expansion of Vametco to 10,000 mtV pa, Brits, Mokopane, brown field site, electrolyte production or commercial sales of VRFBs. Any developments here could have a significant impact on my target upwards if cash generating. In fairness I have also not allowed for significant dilution which could have a restraining effect on sp.

I would expect Fortune to deliver on at least some if not all of these targets given his track record to date, and that is why I am leaving scope to revise targets upwards over time. I do have to factor in my age in terms of how long I remain invested to the extent that I am. In 18 to 24 months I would expect to downsize my holding in order to enjoy the benefits while I still can.

Hope that helps. As always just my opinion.

Regards. Pdub.

Thank you knuttie. And to you.

Regards. Pdub.

Haha blind not bling.

Knuttie that is the second time on this bb that I have been accused of "bling faith". The first time was back to in the bad old days of low sp and the focus of my so called "blind faith" was none other than .... Fortune Mojapelo.

I think my "blind faith" has been fully justified! Actually it was not "blind faith". Through my experience in my professional career I developed certain skills useful in assessing people. I used that experience to assess Fortune. And I was bang on the money.

Your use of that label in the context of what I presume is John Meyer is very confusing. All I have said is that JM has always been very positive about BMN in the media when no one else was talking about Vanadium or BMN, and therefore I consider him a friend of BMN, paid or otherwise. I am sure you would agree that is a common sense conclusion. I still strongly hold that opinion and I really don't care whether others agree.

I have also made it clear on numerous occasions that I disagree with his valuation of BMN and his assumptions about the future price of vanadium. However I give him some latitude in this respect as the City does seem to be rather conservative. The fact that ARC have generally agreed would appear to confirm my conclusion.

How you or anyone else can draw the conclusion that this constitutes "blind faith" is quite beyond me.

Given that your request for justification of my target range (wide because of the significant number of variables) was made not out of interest in my opinion but rather trying to make a point, I shall respectfully decline your invitation.

Off topic I hope all is well in your household given your recent experience.

Regards. Pdub.

Ophidian I certainly wasn't challenging or disagreeing with you in either that or your most recent post.

However perhaps you will know that I have a strong sense of fair play (in all aspects of life, not just shares!!) and given the wider context of attention given to SP Angel and not ARC with regard to targets I felt the intervention desirable.

It is however a minor point and I think we are all agreed that the targets seem ...er ... how shall I put it ... conservative haha.

I must stress that I am very pleased that we are now on the same team. I hope it stays that way!

When sp is £1 or more?

Decimal place then equals.....?

Slight tongue in cheek answer .... or is it? My target 75p to £1.50

The two trades at 08.38 at first glance appear to be sells. However I think more likely a Bed and ISA.

Ophidian in the the interests of fairness we have two brokers with roughly same target. If criticism is made of SP Angel in terms of target then surely ARC must be included too.

My own feeling is that we will not see any revision of targets until after Q2 figures, or maybe even post interims. They are very relevant to any company valuation. Both brokers would need to take this update into account but surely they cannot do that until the info is in the public domain via RNSs.

Of course this is just my opinion. Happy for people to disagree but would hope that I am not criticised for having an opinion.

BMN is in 3rd place this morning on the LSE Hot Chat Topics list.

Good grief. What is happening to this bb?

Everyone invested here should be very pleased with themselves. Yes LTHs like myself took a risk and had to wait a while for the big return. And yes some wavered when the sp fell, but some, including myself, we're grateful of the opportunity to buy even more at a cheap price. If some have chosen to de risk / sell up well that is up to them. I am hanging on to every share because......

... for the new investors at this level it is my opinion that the company is only at a very early stage in its life as a producer and that the sp has a long way to go. I am greedy, no ... very greedy, and I want the big returns.

I have previously stated my target of 75p to £1.50. Can't be precise as too many variables, and I may well up that target if 2018 full results are as good as or better than I expect.

It is my opinion that this company is led by one of the best CEOs on AIM and for those with the patience he will deliver very significant returns for the shareholders.

So we can squabble on this bb all we like and the disrupters can have their bit of weird entertainment, but nothing alters the fact that this is turning out to be the best investment I have ever made and in my opinion so much more to come.

Of course all the above is just my opinion.

Haha. Excellent answer Ophidian. Enjoyed that.

Sailing was great.

Cue music "... as time goes by" fade.

Ophidian from your 00.04 post are we having a Casablanca moment?

"... I think this is the beginning of a beautiful friendship."

Morning MR from afloat in Cowes. Beautiful day ahead in the Solent and hopefully for BMN.

Let's not allow one devisive character to draw attention away from the fact that we have had 5 successive blue days. Long may this steady rise continue.

Knuttie my thought are with you and your wife.

Regards. Pdub.

McMuff I totally agree with you that the current brokers targets (note both brokers) look too low. However it appears to me that City brokers tend to err on the cautious side and no doubt another broker would do the same. I have no doubt that now we have reached the 25p target (though yet to close over that) and that it should be clear to all brokers that high Vanadium prices are likely to be sustained throughout H2 then we will soon see revised targets.

I can't speak for anyone else but I can say that I have never bought a single share in any company where a broker target has played any sort of role in that decision. I doubt the broker targets have held the sp back. Sellers have, and I suspect institutional ones with their own agendas.

Haha very true pb!

Couldn't disagree with you more knuttie. SP Angel have been nothing but positive in their PR concerning BMN.

However ARC have provided no PR and have more or less the same target.

Excellent find pb. A well written article that puts the development plans for the company in very simple terms and makes an excellent investment case. A "must read" for potential investors in BMN.