Member Info for Pdub

Thank you for all the kind and generous support.

It can be awkward responding to someone’s personal crisis. It never ceases to amaze me how many if you find just the right words. It is really appreciated.

Good2bhere my monika came from a nickname I once had at work. Your monika is something I try to say to myself every day, or more accurately Good2stillbhere as I have surprised the doctors and hope to continue to do so. Getting a lot more difficult now but I shall keep fighting to the end.

Apologies for o/t

Kind regards. Paul.

Oh dear. I think you have another bone between your teeth and further discussion is rather pointless.

Just for your benefit Alfred, and anyone else interested, and perhaps to give some perspective to all these so called issues you keep raising think on this.

This afternoon I was informed that my chemotherapy has not worked and is being withdrawn. My cancer is progressing and at present no further treatment is planned. I don’t particularly wish to spell out what that means for me. Maybe you can work it out.

Perhaps you can understand why I have no time for pessimism. In life when you are really tested, and I think I can claim to be in that position, you have to be positive or you have nothing. Some on this bb need to learn that lesson.

Good night.

Alfred there are things that you could criticise about BMN but production is absolutely NOT one of them. The company have focussed on stabilising production at Vametco (see Q1 2021) and have successfully achieved consistent numbers. How on earth do you not understand that, even in your roll as a deramper. This is factual into in the public domain!!!!

The news at Vanchem is even better. Since taking the plant over production per quarter has been very consistent. At the same time investment has gone into refurbishing Kiln 3 which they are currently commissioning and that will more than double Vanchem production and reduce costs. This again is factual information in the public domain. What is not to celebrate about that?

And both these plants were acquired at cheap prices and got BMN into production years ahead of building green field sites. Factual information in the public domain. What don’t you like about that?

I have never said I am happy with the current share price. Other than shorters (please tell me you are not playing that game)) no one should be happy with the share price. However the business is developing in exactly the directions that I want at Vanchem and Vametco. That is why I am positive. They are building a solid platform for the future. Whether I will be alive to benefit I have no idea but the BoD are doing a good job in that respect.

Alfredh what nonsense you are posting. This is unbelievable.

The company did revise its target for Vametco … last year. They have done exactly the right thing. You can argue the toss over capacity but what the market wants to know is how much production are they targeting and at what cost.

They stated target volumes and targeted reduced costs. I am sure you are pleased that they are consistently achieving thus sustainable production volume.

Alfredh haha now you are trying to make a case for missed targets.

Yes the electrolyte plant has been delayed. I think there are many reasons for that, including a slower than expected take off of the VRFB market and also delays from SA Government which created an environment where priorities changed, eg Vanchem acquisition.

I am not sure what difference SA listing would make and certainly delayed but so what.

On the other hand:

Acquire Vanchem…. Delivered.

Increase % of Vametco … delivered.

Acquire Vanchem … delivered.

Engage partners in VRFB industry … Delivered.

Develop rental contracts with partner… Delivered.

Fix production issues at Vametco and achieve consistent output … Delivered

Refurb and commission. Kiln 3 at Vametco …. Delivered.

Reduce production costs since Vametco refurb…. Delivered.

Build electrolyte plant… Being delivered.

Build mini grid … Being delivered.

Help set up Invinity … Delivered

Sell some Invinity shares at profit for investment elsewhere … Delivered.

Etc etc.

I eagerly await the result if your next attempt to deramp BMN. My positivity torpedoes are armed and ready.

Just my opinion.

Bluesy if you are indeed a genuine investor in BMN and are currently underwater you have my sympathy. It is not great when you get your timing of entry wrong.

Having said that it does not excuse some of the misleading comments in your 19.20 post.

“Some who still claim we are a startup company … “ Who claims that? I think you may be mistaking that for “… growth company …” which is often referred to here and BMN most certainly is.

“There is no hope for this massively diluted and sadly once cutting edge SA miner…” Really? Dilution since Jan 2019 (almost 3 1/2 years ago) amounts to just 13% or about 146 million shares. On AIM for a growth company that is nothing. In fact AIM was established to make it easier for companies to raise money on the market. If you don’t understand that perhaps you shouldn’t be investing here.

Of those shares about 138 million shares went towards the purchase of Vametco and Vanchem. ie investing in production plant to generate revenue.

“This is a company devoid of vision or growth…” Absolutely not true. BMN for years now have been working towards their stated vision of building a large low cost vertically integrated vanadium platform, and they have been delivering. They already mine the ore and process it into a number of vanadium products … the essential first stage of their vision. And they did it by acquisition … a big short cut saving both money and time building green field plant. And growth? How about commissioning Kiln 3!

Soon we will be producing electrolyte for VRFB industry. Partnerships already entered into with VRFB producers. Rental contracts agreed with partners. So now working towards completion of the vertically integrated vanadium platform.

Not only that but long before others thought if it. Only now is Largo following suit.

“China dwarfs our output and does not need us.” And yet BMN exports to China! But remember their are other important vanadium markets and our biggest one is the US where prices are higher.

Bluesy I understand anger and frustration. There are criticisms that can be made towards BMN. PR is certainly an area that I am certainly not happy with. However some of those you listed simply aren’t factually true.

I hope that one day you will get a good return here and I understand your impatience but please keep the criticisms real.

Just my opinion.

Alfred what a strange statement from you:

“ The conversation goes a long way explaining how some can be happy with the reported numbers as it has become obvious they don't understand what's being reported. LOL”

It seems to me that it is you struggling to understand the difference between a plant’s maximum capacity and what would be a sustainable production level.

Sensibly BMN BoD and I hope most shareholders understand that a sustainable production target that doesn’t lead to straining the system and constant breakdowns is the desirable and correct course for management to take. Exactly what BMN management have done.

And having set those sustainable targets I am sure most genuine holders are pleased that they are achieving them, particularly now that V prices are at profitable levels, particularly in the US.

Just my opinion.

Alfred I’d like to think you are not stupid but when you say “ Yeah, just go on denying the fact that Vanchem sells FeV,” I really do have to wonder.

I quote from two of my previous posts:

20 May @ 18.31

“Same poster said Vanchem produces FeV. Yes it does, and V2O5 and other specialist products, but BMN also ship to other markets, including Europe and Asia.”

18 May @ 23.06

“Same poster said Vanchem produces FeV. Yes it does, and V2O5 and other specialist products, but BMN also ship to other markets, including Europe and Asia.”

Now those posts clearly state that Vanchem produces FeV but that BMN also SELLS in other markets. I have not denied Vanchem FeV is sold. Good grief. Please try to understand the posts that you read.

Paludina publishes the trade logs from US Authorities that not only give the import quantities in each BMN shipment to the US but also the product. That product is mostly NITROVAN.

I hope you are capable of understanding what I have said. Vanchem FeV is of course sold but more likely to be shipped to Europe or China. Get it?

YOU are the one that raised the issue of Duties on FeV into USA, but much of what BMN ship to the US is Nitrovan which is not subject to those same duties. You misled the market in my opinion and you should apologise.

Just my opinion.

Oh good grief Alfred I am surprised you dare show your face here after your complete mess regarding duties on BMN products to the US. You didn’t know that duties you claimed against FeV don’t apply to Nitrovan, and worse still you didn’t know that Nitrovan is the main product BMN ship to the US. You were corrected by people with superior knowledge and understanding of BMN. you were not big enough to acknowledge your error and to apologise for misleading this bb.

Now you crawl back with your latest decamp … Vametco not at full capacity. Of course it isn’t and likely very rarely ever was.

Vametco is not a new plant and when production issues became apparent the decision was made to shut down and fix the plant. Absolutely correct management decision.

They then had to determine a sustainable level of production, both for themselves and for the market. Those targets set in first half of 2021 have been met in every Quarter since. Exactly what the market needed to hear. And Vanchem has also hit its targets since coming into BMN 100% ownership. Excellent work at both plants.

Now we have Kiln 3 being commissioned that will substantially increase Vanchem / group production and bring down costs.

Only an idiot would think that is not an excellent result.

It is plain to see you are trying every trick in the book to deramp. Hopefully everyone sees through your rather obvious game.

Just my opinion.

Bluesy so tell me who is buying up all these shares that have been sold? You comment on sells yet dismiss the large buys going through. As you are so clever do tell who is buying.

You raise an interesting point Coffeecups and of course it is possible that is a conscious strategy of his.

However I think on this occasion you are crediting him with too much strategic skill. More likely he has raised a perceived negative (for whatever reason) and gone at it like a dog with a bone. He completed some good digging but made some incorrect assumptions. These have been pointed out and he didn’t like that.

End of the day I think his “concerns” about Duties on imports of BMN products are unfounded as they relate to FeV whereas BMN products sent to the US appear to be largely Nitrovan which is not subject to them.

If Alfred has benefitted in some way by learning more about BMN that’s fine with me as that is also the case for anyone else who may be interested. I only care about the accuracy of information posted on this bb. That includes my own posts and why I am happy to be corrected on facts etc.

Just my opinion.

Just to follow up on my post this morning I have found a number of FeV producers in the US so they have a domestic industry to protect. That may explain the imposition of additional import duties on that product. South Africa is not listed as a significant supplier of FeV to the US.

I have not found evidence of any significant Vanadium Nitride production in the US. As there is not a significant domestic industry to protect then they have not imposed the types of tariffs and duties that Alfred spoke about on Nitrovan.

Fortunately it is Nitrovan that BMN largely supplies to the US, it’s largest market.

I think this subject is now well and truly put to bed. And the lesson for Alfred might be that a little bit of knowledge can be a dangerous thing. Do proper research before flagging up issues. Then other readers will not be misled, whether accidentally or deliberately.

Just my opinion

Alfredh distraction technique doesn’t work with me. Been at this game too long to fall for that.

You have been causing some concern about duties into US using FeV as your weapon.

I have challenged you by pointing out that the bulk of what BMN exports to the US is Nitrovan (basically Vanadium Nitride) which is a completely different product to FeV.

I have simply invited you to provide ANY evidence that these duties you talk of apply to Nitrovan.

I am sure everyone bored enough to be reading this conversation will have noted you total failure to answer the question, ie you have no evidence.

I am very happy to note your attention paid to my opinions rather than answering the question. It tells me all I need to know.

Until you provide evidence relating to Nitrovan I think we can assume that it is not affected by the duties you speak of.

I am very happy to be proven wrong on this subject if you have the evidence. This is not a point of principle, merely one of accuracy.

Facts suggest that BMN is now making a very healthy profit on every kg of Nitrovan shipped to the US and due the 1 to 2 month lag in receipts is likely to be doing so for several months to come. That should make every GENUINE investor in BMN very happy.

Now unless you have evidence regarding Nitrovan may I politely suggest you stop wasting everyone’s time with this thread.

If you are desperate to keep attacking either myself or my opinions please feel free to do so. Bit of a pointless waste of your time but I do quite enjoy the attention.

Just my opinion.

Keep up Alfred. I posted this on Wednesday:

“ Same poster said Vanchem produces FeV. Yes it does, and V2O5 and other specialist products, but BMN also ship to other markets, including Europe and Asia.”

What is your point?

Most product from BMN to US I believe is Nitrovan, not FeV.

You have not presented ANY evidence that suggests these taxes apply to Nitrovan. So once again what is your point, other than trying to spread unsubstantiated concerns.

Amendment to previous post:

“ A disruptor tried to imply that much of the revenue from US subject to large import duties. Wrong. His entire argument based on FeV but BMN sell mostly Nitrovan (Vanadium Nitride) in the US, a completely different product.”

A reminder to the market that just doesn’t seem to get it.

Latest production costs at Vametco around $22 kgV
Latest V price in US $60 kgV
Vametco produces Nitrovan
US is BMN largest market
Most product to US is Nitrovan
Nitrovan believed to sell for small premium over FeV
CEO stated 1 to 2 month delay in achieved prices
For the next month or two at least BMN will be receiving very profitable revenue from the US. Most likely well beyond that.

A disruptor tried to imply that much of the revenue from US subject to large import duties. Wrong. His entire argument based in FeV but BMN sell mostly Nitrovan (Vanadium Nitride) a completely different product.

The US market is looking very strong for BMN at present. Q2 likely to be very profitable.

Just my opinion.

The market has not “tanked” anywhere!

In China and Europe prices are around $40 to $41 kgV which is certainly off from the recent highs but still significantly higher than most of the last year or two. Let’s cut out the emotional language.

And in the US we are led to believe prices are quite a bit higher which is good news as much of Vametco’s Nitrovan is sold there. Nicely profitable!

The V price has not “tanked” in the US which is where most of the Nitrovan is sold.

Markets have diverged in pricing terms.

I think the most relevant point in the “debate” today is what does BMN ship to the US.
I believe the trade logs indicate that it is mostly Nitrovan, NOT FeV.

Unless evidence is presented here to the contrary whether or not duties are charged on FeV is irrelevant. I have asked the poster who raised this issue to present any evidence that Nitrovan has these duties attached to it. So far no response.

Same poster said Vanchem produces FeV. Yes it does, and V2O5 and other specialist products, but BMN also ship to other markets, including Europe and Asia.

So without evidence relating to Nitrovan imports to the US the debate is not of great concern to BMN shareholders.

Just my opinion.

I will ignore your insults Alfred.

I return to the question. Nitrovan. Please deal with it. If you are unable to provide an answer then have the courage to say so.