RE: Vanadium set for “disruptive” growth7 Jun 2022 13:47
On the other hand Cindercone one could focus on what they actually have done over the past 24 months (all of which has been hampered by Covid and an annoyingly volatile V price).
Before that I don’t disagree that PR is at best poor and that SA politics and Eskom don’t help matters.
However everyone investing here is aware, or at least should have been, that BMN have clearly stated that their focus is on South Africa and the wider African continent. If like yourself some think that is a mistake then the only person to blame is yourself for foolishly investing in such a company.
There are of course perhaps more enlightened investors who totally get the opportunity that SA and Africa present to a company like BMN building a foothold in the renewable energy and battery storage market. I see this as one of BMNs strengths! Timelines may have been bent on developing this market but much of the blame for this lies beyond the control of BMN / BE. Global VRFB uptake has been slower than projected yet BMN have done a lot to promote that industry through partnerships, rental agreements, etc.
I understand on one level why you are so unhappy with Mikhail’s performance at BE but I would caution you to temper your aggression given that it is based upon what you don’t know, not what you do know. Frankly on reading the recent court case summary I was surprised by both how much time was taken up by the Enerox case (which must have diverted attention away from the business) and by how many NDAs exist in that particular deal. If the same is true elsewhere then no wonder we know little about what is going on. Frustrating as it is it would seem that we will just have to wait for the conclusion of such negotiations, and Enerox demonstrates just how time consuming and complex they may be.
Now to the nitty gritty quote: “They continually miss targets, move at a snails pace”
Really? Have you not been reading the last 4 updates? What you stated is the opposite of the truth and that is simply not acceptable.
The core of this (BMN) business remains the mining and processing of Vanadium to provide Vanadium products to the steel industry. Since 2016 the company has been focussed on the acquisition of mines and plant and the upgrading of these facilities to both stabilise and expand production.
They have been hugely successful in all of these operations and having re-assessed what is a sustainable production target for Vanchem and Vametco they have successfully hit their target quarter after quarter in the last 15 months. Exactly what investors like myself were hoping they would achieve. And now with kiln 3 being commissioned we hope to see an increase in production by the end of the year along with reduced costs at Vanchem. Exactly what they stated was their target. Yet people complain….
They have even tightened up the publication time of those Q Updates over the last year!
Yes there have been delays with the electrolyte plant construction but who
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