Member Info for Pdub

HMHG let’s start with what we know about you.

Not invested
Trolling BMN
Yet to demonstrate any intelligent analysis
Hide from challenges to your nonsense
Etc etc.

To be honest I can’t take your comments seriously. However I will play the game on this occasion and go through your list.

Geopolitical environment - this affects all companies and could be a positive if demand for certain types of steel increases, requiring more vanadium.
?Debt burden - almost certainly a proportion, and possibly a very large proportion, will be paid in cash. Talks already underway re rescheduling of debt and other solutions.
?Poor leadership - this is simply a lie that defies known facts. Just trolling nonsense. The development and growth of the company is down to very forward looking management that is delivering the vertically integrated vanadium platform.
?Dreadful investor relations - This one I have some sympathy with as PR has been disappointing over the last few years. Doesn’t affect the operational advances made by the company that will generate revenue, profit and ultimately a rising share price.
?Load Shedding - Doesn’t affect Vametco, producing more than half of group production and exceeding target!!! It cost Vanchem a loss of 200 mtV during H1 and yet group target only missed by 58 mtV. Agreement with local authority to reduce impact already operational and other medium and longterm solutions being planned. Load shedding is a real issue but as you would expect from good management they are dealing with it.
?Pending global recession - if this occurs many governments will use infrastructure projects to help boost the economy likely leading to an increase in demand for high strength steel. BMN could be in right place at right time. Demand for V will be underpinned by expansion of renewables plus storage to move away from expensive and polluting hydrocarbons.
?Bushveld Energy malaise - what? As we are now finding out a lot more has been going on than some thought. Pity about the delay due to MUST court case but that is resolved in our favour. VRFB industry beginning to show signs of increasing growth which can only be good news for BE.
?Market sentiment - I note that you are doing your level best to affect this. To be expected from a troll I suppose. It can change in an instant and capable of producing the rapid share price increases we saw in 2017 / 2018. Once positive financial numbers start to emerge and other developments generating revenue I think we may see significant share price growth from this ridiculously low level.
?View of Coffee Cups (AIM guru) - HAHAHAHAHAHAHAHAH Enough said.
?
(To;be continued)

Most of Vametco’s production is Nitrovan and a significant proportion of that has been going to the high priced US market.

However production from Vanchem is looking quite interesting and is certainly not only more diverse but may also be changing. I wonder how many read the Vanchem numbers in the RNS by different product. Let me remind you:

Figures below show 2022 Q4 and 12 month totals mtV:

Chemicals (high value products) - 55 / 193
Flake (Vanadium Pentoxide?) - 211 / 288
FeV (FerroVanadium) - 105 / 657

What is interesting is the large jump in Flake. That is 73% of 2022 annual Flake production and an increase of 700% vs Q4 2021. In other words what looks like a significant change.

Well this is pure hypothesis but consider what I understand to be a possible use of Flake (V2O5). It can be used as the Vanadium raw material to produce … electrolyte. Interesting thought? Are we seeing the beginning of Vanchem production being shaped to supply the production of electrolyte? Electrolyte plant becoming operational in H1 !

In my opinion there is every reason to be increasingly positive about BMN in 2023

Just my opinion

The very positive content of the recent RNS should lead any intelligent investor to be very positive about the future for BMN and it’s shareholders. Just a few highlights:

Record group production
Vametco exceeding production target.
Costs down.
2022 Group target only missed by 58 mtV despite losing 200 mtV of production to load shedding.
Some sales in transit and will show up in Q1
Steps being taken to offset load shedding impact, some of which are already in place.
Discussions taking place to ensure that any debt not met by cash repayment will be rescheduled if required.
Minigrid and electrolyte plant on target to be operational during H1
Apparently stockpile increased which means more costs paid for V product available.
Targeting higher priced markets with sales.
Confirmation of buoyant market for products.
In discussion with VRFB manufactures re electrolyte supply.
Etc etc.

Not all of the above is new but it certainly is very positive and the progress it reflects is a credit to BMN management. That is the message sensible shareholders ought to be spreading in my opinion.

If there is a disappointment it is the downgrading of Vanchem target for 2023 but that conservative approach is a wise response to the reality of load shedding. Personally I am optimistic that actual performance will be better than target as it seems to be overly cautious, particularly as measures to limit the impact are either already in place or being discussed.

Overall they delivered exactly what I had expected and predicted on this bb and that certainly should not be a disappointing RNS for anyone who bothered to read it properly and follows the progress being made by BMN. It sets a very solid base for the company to move into 2023 and hopefully a strong year of production, revenue and profitability with much less capital requirement. I look forward to significantly better financials, particularly if V price continues to rise and the Dollar Rate continues to work in BMN’s favour.

HMHG so what you are saying is Coffeecups bought low (BMN was around 4p in 2013) and sold high at 48p.

Well assuming he is telling the truth it’s an interesting point that you make as once again BMN is in the 4p to 5p range. It would seem that your story makes a case for buying BMN at this very low price. Personally I don’t give out that sort of advice but I won’t argue with you. Just taken by surprise that you have apparently highlighted this as a buying opportunity, given your past mindless negativity. Well done

And to help you even further HMHG here is a link to a graph that tracks world steel production from 1900 to 2016.

https://www.researchgate.net/figure/World-crude-steel-production-1900-2016-Source-World-Steel-Association-2017_fig7_317345083

HMHG as I have set you a tricky homework let me help you. Change your title from Global Steel Production to UK Steel Production. That way your post makes a little sense and does not attempt to mislead readers.

Hope you found that helpful.

I’m sorry HMHG I credited you with some intelligence. Clearly a mistake.

I repeat the article is about UK steel production at lowest level since Depression. Your title clearly suggested world steel production. Global steel production quoted in the source I found for 2022 was 1,900 million tonnes. It has been rising fairly steadily. For example in 2008 it was around 850 million tonnes.

Your post was completely nonsensical. Try rewriting it to reflect reality.

There is a very very tiny clue in the opening sentence:

“ The production of crude steel in Britain has slumped to its lowest levels since the Great Depression of the 1930s.”

Hope you find this helpful.

HMHG you are aware that the article is about UK steel production … not global steel production?

Surprisingly you have used a VERY misleading title. Why would you do that?

I rarely look there but some months ago some childish moron was using a name similar to mine.

This is another example. Ignore it and let the children on that bb play with themselves. I suspect they are used to doing that!

I believe it refers to Vanadium content. In this case 80% vanadium.

ARCM I note a further personal attack on me. Clearly you have no answer to my challenge to demonstrate what parts of my 01.54 post are inaccurate or incorrect.

This comes as no surprise to me as unlike the trolls I try to fact check before posting and use those facts to develop my opinions. This is problematic for those that try to challenge me as they are usually lazy and far less precise in their knowledge of BMN. Perhaps that accurately describes you?

If you cannot demonstrate where I am wrong then please carry on with the personal attacks. The insults have zero impact on me but if it makes you feel better that’s ok.

If you are an investor that is heavily underwater you have my sympathy.

ARCM please inform the readers why you are incapable of answering my challenge.

If it is because what I wrote is in public domain and correct then don’t be scared to say so

Beginerman rather than making useless bland comments please let me know which parts of my earlier post (01.54) are not accurate.

I look forward to something intelligent from you.

Won’t be able to engage further for a while as another hospital day. Not ignoring any responses.

ARCM I assume your post mentioning me was inspired by my 01.54 post.

In order to give any substance to your comment would you please clearly state which parts of that post are incorrect and lead you to the conclusion that I am in love with FM (childish) and that he should be replaced (insane).

If the answer is that my post content is correct then a move to remove CEO would be clearly insane.

You want to remove a CEO that has intimate knowledge of Vanadium business and knows just about everyone, knows how to manage SA, has grown the business to where it sits today and has tyhe determination and ability to move it forward.

Two questions. What would getting rid of CEO do to an already low share price?
Who would you replace him with?

Believe you need to do some serious thinking!

Fosters if that question is to me you should know that I don’t give share price predictions. Mugs game.

I will say that the negativity from some quarters, largely driven by low share price, is exactly what we read every day in 2015 / 16. Then that negativity disappeared following the share price rises in 2017 / 18. Those rises in my opinion were driven by 2 factors:
Acquisition of Vametco turning BMN into a producer
Rapid V price rise (which only benefitted BMN due to smart move to acquire Vametco)

Today we have very similar fears and negativity stemming from low sp. However BMN is a larger, stronger and more diverse producer than it was then and IN MY OPINION is in a far better position to sustain a share price rise for example driven by confirmation of better financials and profitability. I am hoping that time is not far off

And by the way this latest RNS was anything but disappointing.

Record group production
Vametco exceeding production target.
Costs down.
2022 Group target only missed by 58 mtV despite losing 200 mtV of production to load shedding.
Some sales in transit and will show up in Q1
Steps being taken to offset load shedding impact, some of which are already in place.
Discussions taking place to ensure that any debt not met by cash repayment will be rescheduled if required.
Minigrid and electrolyte plant on target to be operational during H1
Apparently stockpile increased which means more costs paid for V product available.
Targeting higher priced markets with sales.
Confirmation of buoyant market for products.
In discussion with VRFB manufactures re electrolyte supply.
Etc etc.

Not all of the above is new but it certainly is very positive and the progress it reflects is a credit to BMN management. That is the message sensible shareholders ought to be spreading in my opinion.

If there is a disappointment it is the downgrading of Vanchem target for 2023 but that conservative approach is a wise response to the reality of load shedding. Personally I am optimistic that actual performance will be better than target as it seems to be overly cautious.

Overall they delivered exactly what I had expected and predicted on this bb and that certainly should not be a disappointing RNS for anyone who bothered to read it properly and follows the progress being made by BMN. It sets a very solid base for the company to move into 2023 and hopefully a strong year of production, revenue and profitability with much less capital requirement. I look forward to significantly better financials, particularly if V price continues to rise and the Dollar Rate continues to work in BMN’s favour.

Cindercone. What “general perception”? This is only a reality in your own mind. There may be some others that share that opinion but FM is held in high regard by many, including me.

Then you compound the problem by this astonishing statement: “It means there is a general perception that the company does not have or is not showing the necessary skills to successfully fulfil its objectives.” There is again no evidence for this whatsoever. Some individuals may feel that way but it is certainly not a “general perception”!

In fact the evidence is the exact opposite. BMN have made considerable advances in the last few years, despite many obstacles. That has taken considerable skill, foresight and determination. From comments made on this bb it is clear that this is recognised and acknowledged by many. There will always be some dissenting voices, sometimes genuine shareholders heavily down and sometimes just trolls, but to spread completely unsubstantiated rumours like this is totally unacceptable.

And that is not an overreaction just because I have challenged this nonsense!!

Completely agree UncleJohn. Well said.