Member Info for Pdub

I would add that anyone who has been here 10 years had a chance to sell at a huge profit in 2018. I didn’t and apparently Daisydog didn’t either. That was my decision as this is a long term investment for me so no regrets. As always each of us must take sole responsibility for our buy and sell decisions.

Anyone underwater over that time frame is responsible for their own investment decisions. Tough but true. Missed opportunities etc but I believe more to come.

But anyone trying to make the case that FM is not doing a good job cannot be considering the huge progress made in the operations of the company in the last two years. The current share price is of course a big disappointment to everyone but for any longterm investor there is much to be very positive about.

As always just my opinion.

Daisydog I am delighted that you took the time to post your thoughts. That might sound strange as it will come as no surprise to you that I strongly disagree with your conclusions. Let me explain.

There are a number of negative keyboard warriors that cry foul and accuse anyone that challenges negativity as policing the bb and not allowing balance. Your post proves what a lie they tell. And that lie has been repeated often over the years. Yet here you are expressing a negative view without issue. What you didn’t do was abuse other posters, be rude about FM, trash other points of view, make childish misspellings of names, etc. In fact in my opinion you posted exactly the kind of comment that should appear on a healthy discussion forum.

Having said all that by making such a contribution you must expect contrary opinions and challenges.

You and I look at the same circumstances and draw completely different conclusions. I set out in my previous post why that is the case so I won’t repeat it. However consider what Fortune has achieved in the last two years despite the impact of Covid, global and local logistics problems, a lower than hoped for V price, war in Ukraine, corruption and inaction in SA / Eskom, and having to deal with load shedding. That is a long list of very significant headwaters that would challenge any management team, yet they continue to successfully expand and diversify the business.

In that time frame they have addressed production issues at Vametco and achieved a constant and sustainable production level whilst reducing costs.

They have refurbished Kiln 3 at Vanchem resulting in significantly higher output and lowering costs and hopefully getting close to the annualised run rate target of 5000 mtV by year end.

They are getting close to finishing construction of the electrolyte plant which will open up another significant source of revenue and drive them closer to their long stated goal of a vertically integrated vanadium business.

They have received all permissions for minigrid at Vametco and started work on the project.

They continue to play a very active role in developing partnerships in the VRFB industry. I know some see apparent lack of tangible progress here as a negative but remember there are factors beyond their control such as slower than expected growth in the global VRFB industry and also in SA, plus the court case having a major impact on progress with MUST and that is almost certainly linked to the spin off of BE.

This last 24 months has been critical in putting in place the foundations for the successful future of the business.

I don’t have a crystal ball anymore than anyone else here but 2023 has the potential to be a very successful year and I hope one where the debt is finally sorted. Time will tell.

(To be continued)

“ No one except the cheerleader's on here trust Fortune anymore. ”

What absolute rubbish. YOU may think that but you certainly do not know what everyone else thinks.

Only those that can’t see past the end of the short term share price would think like you, and frankly they shouldn’t be dabbling in AIM shares in my opinion.

Those that follow what the company is actually doing and how they are positioning themselves to take maximum advantage of both the steel market and VRFBs are likely to have a much more positive view of the longer term prospects.

Oh and congratulations to roger for matching your nonsense.

As always just my opinion.

About what Phil?

Haha…. “right twat …” “outraged melt …”

Brilliant … share the love young man.

Haha…. “right twat …” “outraged melt …”

Br Liliana … share the love young man.

Exactly right MIKINAMAN. And like some others he doesn’t know how to spell Alfacomp’s name correctly.

Cindercone it is the aggressive and rude attitude that is your problem. At least tone down the keyboard warrior masquerade for Christmas.

Nice attitude Cindercone. How many times have you moaned about the tone of other posters’ comments?

Happy Christmas.

Thank you eatstocks. Just to be clear was that the H1 2021 that was still impacted by Covid and more importantly where a huge investment went into Vametco to achieve sustainable production levels but included a significant period of shutdown of the plant? Both factors impacted heavily on profitability and therefore share price.

As I clearly stated in my previous post V price is not the only factor affecting profitability and therefore share price. I am grateful to you for helping to demonstrate the accuracy of my statement.

Beginerman I am not generally impressed by laziness. The question you ask is resolved by fairly simple research so please don’t be lazy …. find the answer for yourself.

Whether wasting your time on researching the answer to your question is debatable. That may depend upon what the real purpose of your question is.

Roger BMN mine and process Vanadium.

Most of their revenue comes from selling their vanadium products to the steel industry.

They have worked hard to control and reduce costs.

The profit they make (margins) is the difference the cost per kgV to produce and sell etc and the price per kgV that they sell the product to customers.

If costs remain more or less constant but the price of V rises significantly then profits increase.

Increasing profit will significantly affect the share price and the value of the company, as with most companies on stock markets around the world.

Once the market sees evidence of this happening I would expect to see a share price recovery

Therefore a discussion about trends in the price of Vanadium is highly relevant to shareholders in BMN.

There are other factors that affect profitability than just V price but best keep it simple.

I hope you find this useful.

Roger please explain to me how your negativity is helping anyone, including yourself if you are a genuine holder. I fail to see how running down your own investment shows any degree of intelligence whatsoever. So please enlighten me about your philosophy.

Over the years this bb has offered support to myself and many shareholders or their partners when faced with difficult health situations. I can only speak for myself but the kindness expressed here when I was first diagnosed with cancer certainly helped me get through that period.

When a campaign was launched on LSE to raise funds to pay for health care for a young lady suffering the same cancer that I have people willingly gave donations. Such generosity should be a part of these discussions in my opinion. Sadly she died earlier this year.

It is not all about money and when the bb is relatively quiet it does no harm to support fellow shareholders that are suffering. For the hard nosed simply filter what you don’t want to read.

And as for the anti cycling lobby why not do yourselves and everyone a favour and get away from the keyboard and go get some exercise, perhaps on a bike. Win win for everyone then!

KN no need to worry. I am a big fan of Loudspeaker and the valuable research and contributions he shares here.

But what I have learned over the last few years is to stay positive. May not solve the problems but certainly helps to keep everything in perspective. That in itself can be part of the solution.

Sorry about the o/t. No more from me today.

Bushy well said and cycling has certainly helped me in my own cancer battle.

Your wife’s progress is amazing. I hope it continues. I have been taking a new targeted therapy drug for 12 weeks. Still early days but initial results are encouraging. One day at a time though.

Eatstocks “ People laugh at cyclist gear because it does look ridiculous” says rather more about your attitudes than you realise. How does a cyclist look lying dead on the road because the motorist didn’t see them?

Stay safe.

Presumably all the angry petrol heads that can’t stand cyclists in Lycra having the cheek to share ‘their’ road also think that it is ridiculous to turn up for football wearing … well … football kit, or for cricket wearing … well… cricket clothing, or worst of all going to the swimming pool and donning swim costume? After all none of those characters will ever play at Wembley, Lords or The Olympic Games pool yet they wear the correct kit for the job.

Is it possible that cyclists wearing breathable comfortable high vis clothing and helmets designed for purpose are just like any other people enjoying sport simply wearing clothing fit for the job and not pretending to be potential Tour de France competitors?

For the record back in 1990’s I was cycling about 200 to 300 miles per week and time trial racing. Frankly I am surprised I lived long enough to become a cancer patient due to the stupidity of some drivers. The three worst incidents involved a lorry that overtook then turned left, forcing me off the road. A car that in spite of eyeballing me still pulled out of a side turning into my path causing the crash that resulted in tearing both sets of crucial ligaments in my right knee and ending my basketball playing days. But best of the lot a flatbed lorry that overtook me and I was struck on the back of the head by the wing mirror strut resulting in a hairline skull fracture. That was the last time I rode a bike without a helmet! For my own safety I would not even think of road cycling without wearing the appropriate kit. Why? Because I am not stupid.

The problem is that whether a crash is caused by a stupid driver or a stupid cyclist in the majority of cases it will be the cyclist that comes off worst. If cyclists choose to wear clothing that mitigates the risk either through high visibility or protection I welcome it.

As for the new guidance I don’t cycle two abreast and I usually stop to let cars past on the narrow country lanes in my local area. I do quite a lot of driving and see all this from both sides. Patience and common sense on all sides would make roads safer for all.

ps Interesting RNS. Fortune still ahead of the game it would seem.

Well I hope you are correct HippyDays. 92p would be great but I think most here would be a little more conservative than you in the short term.

What is clear is that it is easier to achieve broker target when share prices is rising! What is interesting is how long it took SPAngel to react to the falling sp in 2019/20 in terms of their forecast share price. ARC responded more quickly.

SPAngel were doing quite well until their ‘rush of blood’ in November 2018. The ARC predictions after that point were more sensible (with hindsight)

I would like to think that it won’t be too much longer before all of those ? targets are achieved.