Member Info for Pdub

On HL can't even get a quote to buy �80

Exactly so Daisan.

That sounds plausible Alfa. Whatever the nature and purpose of the seller it will end! Then Boom? Why not. I just hope that no one has panicked and sold. Strong hold / buy for me.

Interestingly if the two large 250,000 sells are removed from today's trades more shares have been bought than sold. In my opinion this so called 'correction' has been driven by at least one large seller, in much the same way as the Erongo sell off suppressed the sp. I look forward to the point where they run out of shares to sell. Boom? Why not.

As a geologist to me recent can mean anything in the last 2 million years or so! Therefore anything Fortune said in the last 2 million years counts as recent to me. (Haha) If he said something before that then I would have an issue! But seriously CEOs are expected to put some sort of timescale on events and strategies. After all how much of the discussion on this bb is about 'when'? I find it hard to criticise anything Fortune says about timescale concerning timescale for Mokopane Mining Right when one considers the previous corrupt regime in SA, the severe political upheaval in recent months (haha) and the work towards a new Mining Charter. Everything completely out of his control. He may rely on timescale of other mining right applications for comparison. Additionally none of us know what assurances Fortune may have been given in this respect, whether or not they were honoured. In the 2018 Q1 Update RNS it just says: "An application for a New Order Mining Right was lodged in March 2015 and is being processed by South Africa's Department of Minerals Resources. The Company is in ongoing discussions with the Department of Mineral Resources with a view to being granted a New Order Mining Right". No timescale reference in the most recent RNS then. In the 121 presentation (the most recent) it simply says: "Expect to be granted a New Order Mining Right" Again no mention of 4 weeks or so. Perhaps this is not an issue for which Fortune can be held responsible. At least not if a degree of common sense is applied!

Daisan I must most strongly agree with you haha.

Daisan I am fully aware of the reasons for Obtala and Blackrock selling. I brought some of that info to the bb through my own research some years ago! I remember trawling through the Obtala annual reports and RNSs to establish the history of events leading to the sell off, and reporting that to the bb. The point I am making is exactly that. II's can change their strategies. More of a general pointreally.

I guess we must all remember that Institutions in some ways are like pi's in the sense that their own needs come first. For those with knowledge of BMN's distant history with Institutions remember the impact of Blackrock and Obtala bailing out for reasons nothing to do with BMN but for their own strategic purposes!

Yes I agree with all of that Daisan. However we do not know the names of all of the placees and I believe they hold less than 3% each there must be more than the named ii's or individuals. Any one of these may have decided to sell a 'few'. But as I said it is pure speculation on my part. I raised it because there seemed to be a concentration on warrants or mm manipulation and wanted to point out that there are alternative and perhaps more straightforward possibilities. I would like to believe that the reason for lack of info on the use of capital from the fund raise is that discussions are ongoing and at a delicate stage. I am sure we all look forward to learning of successful outcomes, particularly if Sojitz stake can be acquired at sensible terms!

19.5 / 19.6p on HL

Compass when discussing the meaning of a word like 'imminent' context is everything. Hence my post on this subject yesterday. Do the '99% of the human race' understand mining timescales and think like the CEO of a fantastic miner and producer such as BMN? I suspect not. I do understand the frustration over the use of that word but I have seen the same discussion on just about every mining bb that I read. Different perspectives.

Yesterday I asked if there was a reason why the seller / sellers couldn't simply be a placee / placees or other large holder offloading some shares. We are seeing some large round number sells which would certainly fit. The placees acquired their shares at 10.3p. Could be that one or more decided to de-risk at 20p plus. They could remove original stake but still retain a significant holding in BMN as a free carry. Obviously this is pure speculation on my part but is it at least possible? The good news would be that the sp has held up pretty well under the circumstances and of course the seller has only a finite number of shares. As with the end of the Erongo sell off I would expect the sp to recover strongly when this supply of shares is exhausted. Or of course with the release of any one of a number of significant news items. Buyers of course are benefitting greatly from this pause in the sp rise. I wonder how much longer this opportunity will last? For me this is a strong buy / hold.

Just my opinion about newsflow. BMN has a lot on its plate just on the vanadium side of things. Mokopane mining right and financing / developing the project, Brits drilling etc, Sojitz share purchase?, Vametco expansion, Electrolyte plant, etc. No doubt that is keeping Fortune very busy but must also involve some complex and potentially commercially sensitive negotiations. Possibly even NDAs. Given Fortune's history of delivering big time I am happy to wait.

Haha. Prefer your version Sanchez! Very good.

I should add that my Erongo 1 and 2 posts were some days ago and of course not suggesting that this time the seller is Erongo.

UK is there a reason that I have missed that the seller(s) aren't simply placees taking a rather decent profit? Hence my tongue in cheek post about movies Erongo 1 and sequel Erongo 2. When Erongo finished up it went. Any reason why that couldn't happen again? Like all sellers whoever it is has a finite number of shares. When finished I would expect a recovery in the sp. Add news to that scenario ....

Sorry about errors in previous post. Hopefully you get the message!

Couldn't agree more Daisan. If Fortune has a weakness it is as you describe and I sometimes feel the RNSs are simply too complicated for the market to fully absorb. On the up side I would father rather have this (a company delivering on its promises) than a CEO issuing numerous fluffy RNSs and delivering nothing. Too many of those on AIM as I have discovered over the years to my cost. As you say it is you say unlikely to change. For LTHs that should not be a problem, though I do totally understand the sentiments expressed by jogi. Otherwise I am very happy with progress so far and the future looks very exciting.

Haha Compass. Well by then I think BMN would have several gigafactories up and running, providing energy storage throughout the universe ....... or am I just ramping? Haha

The word "imminent". Does it mean the same thing under all circumstances? Interesting quote below: "Physicists have proposed a mechanism for "cosmological collapse" that predicts that the universe will soon stop expanding and collapse in on itself, obliterating all matter as we know it. Their calculations suggest that the collapse is "imminent"�on the order of a few tens of billions of years or so�which may not keep most people up at night, but for the physicists it's still much too soon." Link below: https://phys.org/news/2015-03-universe-brink-collapse-cosmological-timescale.html To pi's, impatient to make "loads of dosh" ASAP, imminent seems to sometimes mean yesterday!! To physicists (see above) it can have a totally different meaning. So what does the word mean to CEO's of mining companies that may take anything from 5 to 10 years or more to develop an asset from discovery to production? In my experience they have a longer timescale in mind than your average pi, and that seems to be confirmed by the discussions here. When I read the word 'imminent' in RNS's etc from companies such as BMN I tend to think in weeks / months at least, and in reality can often be longer. Perhaps my geology background helps me think in slightly greater timescales than is normal! As always patience is required.