Member Info for Pdub

Excellent summary faramog.

To Eatstocks, Faramog, and any others. Thank you for correctly pointing out I do not say buy. I have a very positive view of BMN and I focus on their operational activities mostly at Vametco and Vanchem, where I see huge progress being made.

Others are free to agree disagree whatever. Just my opinion.

“ Pdub getting upset on this BB to every Tom, Dick and Harry…”
Eatstocks I do have respect for your opinions but please cut out the silly comments like the one above.
You have no idea what upsets me and I can assure you it has nothing to do with this bb. I have much bigger issues to contend with than nonsense comments made here or whether or not my shares are doing well.
And please be assured that I will continue to pick up on things that I disagree with on this bb. That is after all one of the joys of participating on chat forums.

Not you Troajan! Always respect your contributions.

And the nonsense starts.

This is EXACTLY why he and others left this bb.

I am stepping out for today and let you lot have your feeding frenzy.

How disgraceful. He bought shares. He sold shares. He bought shares. Shocking.

Bet no one else here has done that.

Hmm “… won that game.”

Ah.

RichKen is still around and still invested as far as I am aware.

Unfortunately like so many intelligent and articulate contributors to LSE the absolute nonsense written here at times has led to many seeking outlets for their ideas on other platforms.

Pity as this bb has lost access to that collective knowledge. Even if people disagreed with them at least their contributions were thought provoking.

I guess the trolls in one sense one that game.

Uksteveg why would we hear of the former Mayor of London? You had something strange for breakfast?

Thanks for cheering me up UKSteveg!

Too much !

According to H1 RNS the US$ / Rand rate averaged 15.4

Toady I believe the rate is around 18

At start of Q3 rate was around 16

Average for Q3 likely to be around 17

This is good news for BMN as revenue in dollars and costs largely in Rand. Effectively this is reducing costs relative to sales and therefore increasing margins. More good news.

From Interims RNS

“During the period, Bushveld benefited from the robust vanadium demand and higher prices in the United States relative to other regions, by selling a larger portion of its sales to the United States.”

Oops …

Is that a shipment of Vanadium Pentoxide dated 21 August 2022?

Oops …

Remember that in the first 2 months of Q3 Vanchem produced more than in the whole of Q2 and there is still September total to be announced.

Group total to hit a run rate of 5000 mtV to 5400 mtV pa by year end according to RNS.

Agreed KN. BMN is so much more.

Did they not mention that BMN own 2 of only 4 primary production plants
That they have been investing heavily in an expansion programme.
That they were the first to target a vertically integrated vanadium platform. (Now being copied by Largo?)
That they have developed partnerships within VRFB industry and jointly designed the first electrolyte rental contracts.
That they are constructing an electrolyte plant.
That they are constructing a mini grid to showcase VRFB technology
And of course huge in ground resources that ensure supply of Vanadium for decades to come.

With output increasing and costs falling I think net profit may not be far away. We already know $6 million operational profit made in H1. Can’t wait for H2 and 2023 numbers.

Good thank you and reading Paludina’s sales numbers always cheers me up. That is particularly so now that we know achieved prices in US market are higher than elsewhere.

Cindercone if you really can’t work that out for yourself that’s quite a concern!

Thank you for the update Paludina. I very much appreciate you passing on this factual information about deliveries to our main market. I am sure many others share that view.

Keep up the good work.

Apologies critical maths error in para 4. Correct version (Even better!)

Just looking back at Vanchem production in Q1 RNS and Q2 H1 RNS interesting that the totals were 224 mtV and 191 mtV respectively. Immediately we can see the impact of shutting down Kiln 1 and the slower ramp up of Kiln 3 than expected.

The Interims RNS gave some interesting post period numbers for Vanchem. The numbers for July and August are 61 mtV and 151 mtV respectively. That’s a total of 212 mtV in just the first two months. That is significantly higher than the full three months of Q2 and only 12 mtV less than the full three months of Q1. And we still have September total to add. Given this statement in the RNS I would expect September to be even higher than August:

“… supported by improved operational stability at Vanchem which has continued into the month of September, …”

That will almost certainly result in a much higher total for both Q3 (perhaps approaching 400 mtV) and Q4 (500 mtV to 600 mtV?) than the previous Q production levels of Kiln 1 pre 2022 which were around 270mtV.

More good news deriving from these increased production levels is the reduction in costs associated with economies of scale. And remember some of the Vanchem products attract premium prices.

Then there was this good news:

“… Vametco continues to demonstrate solid and consistent production levels…. “

This is exactly what all the hard work and investment at Vametco in 2021 was designed to do and has resulted in an INCREASE in the production target.

Again from the RNS this prompted what we know to be a very conservative BoD to write:

“…. We are confident both plants will reach a combined annualised run rate of 5,000-5,400mtV by year end…. “

That is why I defend the BoD and say that they are continuing to deliver.

Obviously nothing is certain in the Vanadium market or for that matter on AIM, but if this progress is maintained and V prices remain high in at least their main markets then BMN should have an even better H2 compared to H1 and the prospects for 2023 look very exciting, particularly with electrolyte plant coming online in H1.

The current share price looks very cheap to me but that is just my opinion. Everything I have written either quotes information released by the company or uses that to draw conclusions.

Not ramping. Just trying to make sense of facts.

As always just my opinion. It hardly needs saying but for the benefit of the trolls don’t take my word for it …. Read the RNSs … properly! Draw your own conclusions.

The BMN story is a complex one but worth understanding.

I am not yet factoring in BE. If and when that comes good then lots of icing on an already large cake.