Member Info for Pdub

Surely we do have some info on how the placing funds are being used.

Item 1 Atlas. Paid off. Job done.

Item 2 Simplify organisational and corporate structure. Now true we have not had much info about this part. However Mr Meyer did hint that Sojitz was the target (and what a great acquisition that would be!). I am no expert but I would imagine that these negotiations are quite difficult, particularly with the price of vanadium flying. They are certainly commercially sensitive and it would not surprise me if there was sone form of NDA in place, given the lack of hard detail. Whatever the case, as a strong supporter of Fortune Mojapelo, I have always given him the benefit of the doubt, including when he was under great pressure in 2015 / 16 on this bb. I see no reason to change my policy after 4 1/2 years during which time Fortune has delivered, delivered and delivered! I look forward to an announcement relating to this part of the placing at the appropriate time. ie when job done!

Item 3 Support the expansion programme. We know that there is ongoing work at Brits, including the drilling and analysis etc. Although Vametco expansion is likely to be funded by Vametco revenue, there are no doubt additional costs to BMN. So there is info on how this part of the placing is being used. It is good to know that BMN has the funds in place to deliver the expansion programme.

We do not have complete and detailed knowledge of how these funds are being used, but there is sufficient information available to know that this is all very positive for BMN and its shareholders.

This voting issue is very simple.

If you think Fortune Mojapelo is one of the best CEOs on AIM, has an excellent track record of developing the business and delivering shareholder value, fully understands the funding needs to achieve the target of becoming a large lowest cost vertically integrated vanadium play and wishes to put in place the facility to raise those funds if required ... Then vote YES

If you think you know better (haha) then vote no.

Jonnymaz great to read posts from someone with specialised knowledge. They do stand out from the vast majority of posts. Thank you for that very useful information.

Knuttie we all know what you're saying and agree with you about the price. Mr Meyer explains that they expected a drift in the price of vanadium in Q2 (presumably ARC did too. Hence their targets. He clearly states that it has not turned out that way so I think we can expect a review in the not too distant future.

My concern is that there is some great PR in these interviews (come on Fortune please join in!) but their value may be undermined by the negativity concerning JM on this bb.

Anyway I am now so fed up with this issue that I am going to take a break from bb.

Mr Meyer explains that they have been "gobsmacked" by the renewed rise in Vanadium price in Q2. I believe we will see a revised vanadium price for 2018 and it won't be too far away. Likely as not an upgrade in sp target too.

He goes on to say "... How high these (vanadium) prices are, and that's incredibly good news for Bushveld Minerals, who get VERY HANDSOMELY PAID FOR EVERY KILO OF VANADIUM PRODUCED"

That's what I like to hear from supporters of BMN.

Link to John Meyer interview

https://audioboom.com/posts/6928286-savannah-petroleum-savp-and-john-meyer-on-vanadium-bmn-arcm-copper

I can't comment knuttie as I can't open the article.

Once black and white figures are published for Vametco and they are as good as many of us suspect then I would expect the sp to be significantly higher than today!

Just my opinion.

RazorShultz only you can answer you question but I hope this post may suggest to you that BMN looks like a very good investment opportunity. In my opinion it is.

Since the RNS on 21 Dec 2017 announcing completion of the acquisition, BMN owns 59.1% of Vametco mine and vanadium production plant. That makes BMN one of only 3 primary producers of Vanadium outside of China.

Vametco production cost 2017: $16.6 kg V or $16,600 per metric tonne vanadium (mtV)
Price Vanadium (June 2018): $71 kgV or $71,000 mtV (approx)
Current production rate: 3,750 mtV pa

Expected production costs decrease: 7% through economies of scale
Production guidance for 2018: 3,680 mtV (3,050 mtV Nitrovan, 630mtV FeV)

At a vanadium price of $60 kgV (ed. $60,000 mtV) the CEO recently stated that the Vametco plant is capable of generating an Ebitda of $150 million in 2018 ! At $70+ kgV Ebitda should be higher than that. Remember 59% owned by BMN Bushveld Minerals, and it is believed that BMN may be negotiating to acquire Sojitz 15% (to be confirmed)

Production rate by 2019: 5,000 mtV or more pa (that is a nearly 65% increase in production from the start of 2018 and 33% increase beyond the June 2018 target rate!)

One further point. It is my understanding that Vametco's patented product Nitrovan attracts a 5% premium to the price of vanadium.

The sources of this information are either RNS, BMN Presentation or Interview. Opinions are just my own. Links to sources:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BMN&ArticleCode=2v3qf6kj&ArticleHeadline=Q4_Operational_Update

http://www.bushveldminerals.com/wp-content/uploads/2018/02/BMN-121-Presentation7861.pd

http://webcasting.brrmedia.co.uk/broadcast/5a7dbf0ecb5fd9447f49d716

We also have Michael Kirkwood recently appointed to the BoD, a highly experienced former international banker. Read about him here:

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BMN&ArticleCode=gqc67f3l&ArticleHeadline=Appointment_of_Michael_Kirkwood

And we now have leading institutional and mining investors on board via the 26 March 2018 placing for £15 million. So the company is well funded to move this very exciting vanadium story forward.

2018 may also bring news on the Mokopane vanadium project, the Brits vanadium project, electrolyte production plant, a brown field development and further progress on the Madagascar coal to power project.

In my opinion a great time to be in BMN as the market appears to be awakening to the idea that BMN is very very undervalued. The recent pull back in sp, for whatever reason, appears to me to be an unexpected buying opportunity!

Cindercone you clearly have very strong views on this matter. I must assume that you know more about this than I do and nothing that I say will influence your opinion. Will you be equally scathing of ARC, whose analysis is broadly in line with SP Angel but who don't do any PR on BMN as far as I am aware?

Thanks knuttie

Cindercone all I would say is that I doubt that JM can dictate what vehicles are open to him to give interviews on and I am pretty sure that he cannot control who watches those interviews.

At least he does interviews, and frequently, and he is always very positive about the BMN story.

The fact that the wider market does not even seem to be aware of the vanadium story is most certainly not Mr Meyer's fault. Surely organisations like Vanitec and individual companies such as BMN are equally responsible for spreading the word?

Yesterday I put you under a bit of scrutiny regarding JM. Just wanted to say that I appreciate that your responses were very fair and focussed on the topic. You mounted a robust defence of your position without deviating into personal attacks etc.

Respect to you knuttie. A reminder to me to try to follow that same path.

Regards Pdub.

Hope it helps, LadyJennifer.

Thank you RichKen.

Just a few years ago BMN was nothing more than an AIM junior mining explorer with no revenue, led by a CEO with a very ambitious plan to turn BMN into the world's largest, lowest cost vertically integrated vanadium play.

At the time there were numerous CEOs on AIM stating ambitious plans and failing to deliver, so it is understandable that some may have dismissed all this as an unachievable dream. However they would have been guilty of greatly underestimating Fortune Mojapelo and the team at BMN. Some of us were lucky enough to meet the man and realise that he was capable of achieving these goals.

BMN now have a 59% controlling interest in the Vametco vanadium mine and its producing plant. We know that the plant was acquired for a knock down price, and that the low production costs and rapidly increasing price of vanadium mean that this operation is looking highly profitable (CEO stated capable of generating Ebitda of $150 million in 2018). Very exciting times ahead when first black and white profit figures are published.

Today we have updates confirming progress on construction of electrolyte plant and delivery of SA first VRFB.

So BMN is making rapid progress towards becoming a vertically integrated vanadium play. Fortune is turning this dream into reality, and we are lucky enough to be invested at a relatively early stage.

In my opinion this is the opportunity of a lifetime.

Interesting emphasis on the short delivery time of utility scale battery from receipt of order. I think that comment goes to a far wider audience than just pi's!

Haha as if I care what you think Capa.

Thanks Alfa.

So while the City takes time to adjust then a perfect opportunity for those in the know to load up! Just my opinion.

Cindercone H2 has only just finished and interims not due until Sept. How would the broker know the black and white numbers?