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Oh and wise words from you about the share price range and break out. I hope the less experienced investors here take heart from them.

Yes I certainly can. Not much else to say about Eskom !!!

Anyway glad you are still around.

Regards. Paul.

Interesting comparison Trajan. Hope all is well with you.

Much of the negativity on this bb is similar to 2016 when the sp stagnated below 2p. Same dissatisfied pi’s with some even calling for the removal of the CEO. Then the boom years of 2017 / 2018 and all was well.

I wouldn’t be at all surprised if we see something of a repeat share price recovery, particularly with the considerable operational progress being made at Vanchem, Vametco and the electrolyte plant.

Just my opinion

Blueboy at least you have the decency to acknowledge the considerable achievements of BMN. That does set you apart from the dishonesty of the trolls.

I was not impressed with your rudeness about my age which by the way is my business, not yours.

I see you have been a member for a few years. Perhaps that is long enough for you to be aware of my views on most subjects BMN. I am very open and consistent in that respect. You should be aware that I don’t focus on Director shareholdings other than to point out how many shares Fortune has, that they would have been awarded in place of cash and that any drop in share price affects every one of his shares as much as anyone else’s.

In my experience Director buys have a very temporary PR value that on AIM quickly wears off. It does not affect the long term share price so I don’t have a view one way or another. I am a long term investor not a trader and as you should by now be aware I am focussed on how the business is developing. It is my opinion that the business has made very significant progress over the last 2 years and that seems set to continue. Therefore the CEO has my support because he is focussed on building a solid business.

HMHG I posted this earlier today. It is the most appropriate answer I can give you.

“ HMHG it seems that we are all still waiting for you to give your own detailed analysis. Don’t simply hang on to other posters shirt tails ….
…..Come on HMHG I am sure you are capable of intelligent thought … we just aren’t seeing it yet.”

No richam it is your post that is ridiculous.

I quote you: “and the broken record is out in force phantasizing about "positives"”

So please demonstrate to me which of the following are either not positive or not true? This isn’t fantasy (note correct spelling) it is the reality of creating a large low cost vertically integrated vanadium platform.

Vametco production issues fixed and sustainable output achieved.?Vametco costs down.?Vanchem Kiln 3 refurbished and running.?Vanchem output increased.?Vanchem costs reduced.?Electrolyte plant nearly completed.?Electrolyte production set for H1 2023.?Work commenced on Vametco minigrid.?Commercial recoveries from waste material.

BMN is a vanadium mining and processing company. The achievements in that list are essential for the successful running of the business, whether or not the market recognises that at this moment in time. These are the building blocks for the future growth and success of the company. They are now in place or nearly so. Huge positives whatever you may think and that makes a mockery of your comment.

For the record (yet again) few would be happy with the share price trend. If there is a ‘broken record’ it is the constant restating of this blinding obvious low share price. It is a pity that those doing it display no understanding of what BMN are achieving.

In my opinion the market would like to see profitable numbers (understandable) and therefore the pathway to paying off the debt. If V prices remain at $40 kgV or higher and production and costs remain on track it is quite likely that the market will get what it wants in order to recognise the value in this company.

Sales to the US alone in November, December and into January may already be generating significant profit if the costs and V price numbers are as speculated here and elsewhere.

Just my opinion.

And just one more positive snippet we may have forgotten about. Whilst Vanchem is likely to have its production affected by loadshedding and most of us (though clearly not everyone !!!) would hope by not too much, the work at Vametco to improve output to a sustainable level was so successful that during 2022 they actually raised the production target for the year.

Hope that reminder brings a smile to most of us.

And yet Hippy I believe South Africa is the eighth largest mining producer by value.

Furthermore Paludina’s great research on deliveries to the USA shows that in November / December alone some 772 mt. of Nitrovan were delivered. In context Vametco total V production for Q3 was 666 mtV.

US was the highest priced market for Vanadium and there may be a premium on the price of Nitrovan. That is a lot of revenue and profit coming to BMN (if the estimate of costs often used here is accurate.)

And it seems 2023 is off to a good start with another 56 mt landed in Norfolk (USA) at beginning of January.

Good to see BMN successfully selling into the highest priced market.

Once again sorry for posting some positive facts, courtesy of Paludina.

The above includes some of my own opinions.

Cindercone over the last 2 years how have those global issues affected BMN? I am very surprised that you have to ask. However:

Covid … global reduction in industrial activity and demand for resources. Low V prices during most of 2020. Difficulties dealing with Covid at plants including short mandatory shutdown. Production affected. Therefore significant impact!

Global logistics issues. Difficulties and delays in getting product to various markets. Likely to raise costs and impact cash flows.

War in Ukraine … it is true that initially this raised V price for a short time but then for H2 V prices fell to lower levels than pre war prices. Fact. Significant impact on revenue.

Load shedding … surely I don’t need to explain the challenges presented at Vanchem.

I stand by my original comments.

These events have certainly made life difficult for BMN, yet they remain on track to achieve sustainable production levels at both plants, hit record group production in 2023 and start producing electrolyte.

Without these issues it is likely that the V price would have remained at a higher level and produced higher revenue. That is of course speculative but no worse than hindsight forecasting and criticism.

“The debt is a millstone around BMN's neck. I just don't understand how Mojapelo projected that it could be feasibly paid off by Nov 2023.” Did you say that at the time when BMN secured funding that would guarantee their expansion plans? I suspect not.

As I said earlier no one knows for 2023 the production volume, production costs, sales volume and price achieved. Yet you jump to the most negative of conclusions before the event. I have no idea how much of the debt will be paid off with cash and how much if any will need other solutions, but the company have explained that they are on the case with several options being considered if necessary.

Paying off the full debt will certainly be a challenge but rising V prices and 5000 + mtV production would certainly go a long way to meeting this.

Just my opinion.

I am sure that those reading these posts will have noticed that not one of the trolls posting tonight has tried to tackle the positives in the operational activities of the company that I have outlined.

I will leave it to others to draw the obvious conclusions as to why the trolls are avoiding these positives.

HMHG it seems that we are all still waiting for you to give your own detailed analysis. Don’t simply hang on to other posters shirt tails

Even worse a gross error of judgement in my opinion in praising a post that is clearly so shallow and lacking in balance that could have been provided by acknowledging the considerable progress made by the company.

Come on HMHG I am sure you are capable of intelligent thought … we just aren’t seeing it yet.

ARCM the best you can do is a personal attack on me. Pathetic .

Roger I must congratulate you for seemingly having the inability to look beyond the share price and CEO salary. Your blindness to what the company is actually doing truly astonishes me.

All you can do is repeat the same old perceived negatives yet you have no grasp at all of the building blocks that the company has been successfully putting in place over the last two years.

If you wish to criticise my posts at least show some understanding of the operational progress made by BMN. Without that context your comments are meaningless in my opinion. Your statement that the company has regressed is utter nonsense and does not reflect what the operational side of the business has achieved in the last two years and the progress made in delivering a low cost vertically integrated vanadium platform.

Of course no one is happy with the sp but if you can’t see beyond that then perhaps AIM resource companies are not for you.

HMHG. All businesses need to invest in their future. So did BMN. The opportunity to buy Vanchem was too good to miss and in my opinion long term will make this company. Remember when circumstances permit their are 2 more kilns that may be brought back into production. I am happy to note that the company is not rushing to do this and is focussed on achieving 5000 to 5400 mtV pa at sustainable costs first.

As I have already said they did well to secure the funding and have remained on track to grow the company despite the very considerable global headwinds that I referred to earlier.

What none of us know is how much vanadium they will produce in 2023 ( though almost certainly it will be a new group record, what total costs per mtV will be, how much they will sell and at what vanadium price.

As far as debt is concerned it is only January and debt repayment due in November. The known facts look good for a profitable start to the year. That really is all anyone can say. However Orion appear to be on board and BMN have made it clear that they are considering all possibilities.

They would certainly need a very good year to clear all of the Orion debt (but not impossible) but if V prices remain in $40 kgV or higher they should be able to clear a substantial part of that loan.

Sorry to apply facts and logic rather than throw away agenda driven one liners but that’s just the kind of guy I am …

Just my opinion.

And yet still HMHG you have absolutely no answer to the considerable operational progress made in the last 2 years. You can’t even acknowledge it yet that is what BMN does. Mine and process vanadium products and sell them.

Desperately thrashing around for some perceived negativity but completely blind to the business progress. Hmmm

As usual though nothing of substance to offer.

And no answers whatsoever for all the positive achievements at operational level over the last 2 years.

Yes yes we are all disappointed with PR and share price. However this is a vanadium mining and processing business and considerable progress has been made. In my opinion 2023 looking good

… that provide the foundations for hopefully a profitable 2023:

Vametco production issues fixed and sustainable output achieved.
Vametco costs down
Vanchem Kiln 3 refurbished and running
Vanchem output increased
Vanchem costs reduced.
Electrolyte plant nearly completed
Electrolyte production set for H1 2023
Work commenced on Vametco minigrid
Commercial recoveries from waste material.

Needless to say and with all due respect Cindercone I disagree with almost every word of your post. Lots of hindsight expertise there.

Given the growth stage of BMN FM did amazingly well to secure funding that would help sort out developments at Vametco / Vanchem.

What was VERY unlucky was the major disruption caused by COVID, global logistics issues, war in Ukraine and worsening of load shedding. Could not have happened at a worse time for BMN yet they have continued to make very significant operational progress. These were one off events all beyond BMN control.

Blueboy I neither know nor care what your age and experience. Don’t you worry about mine.

But here is a question for you … what do you think about the considerable achievements made at Vanchem, Vametco and Electrolyte plant over the last two years leading to increased and diversified production and reduced costs? Bear in mind their business is producing and selling vanadium products.

Hi Lamps. Any answer I give to that question is of course speculative so I will stick with the most likely which is Q4 results. BMN have been more consistent with timing of Q results over last year so hopefully by end of January. Should get an indication of impact of load shedding at Vanchem. Also sales numbers.
Not sure if they will hit production targets at Vanchem because of the above, but anywhere close would be quite an achievement under the circumstances.