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We will see katstrangler. Every word of what you write is negative speculation. A cynic might say self fulfilling prophecy. Me? Life is too short for such a dismal approach.

There is so much that is all falling into place that I see only a very strong future for BMN. I do believe we have at least one significant seller and I think that is Duferco as they have the volume of shares, the motivation and the past record. I would like to think that whoever it is that has been selling (and they dwarf the Primorus shares) once the overhang clears then 5h3 brakes should be off the sp.

As for the V price I don’t see any change near term in the pressures that forced it up over the last month so whilst there has been a small adjustment 8 would be surprised to see a major fall in V price. Anything above $40 to $45 kgV gives BMN Avery nice return and that is where we are at.

Once the marke5 seees hard production numbers matched by r3venue and profit you can forget your gloomy fears about Primorus. As I said they are insignificant and BMN pick up a larger share of the investment. Speculate to accumulate etc.

Just my opinion.

katstrangler it amounts to £1,500,000 spread over 6 issues, one every 3 months. The market will easily absorb that. What is it that you are so scared about?

The Primorus shares are a very small issue in reality. I believe BMN made the correct decision to protect cash. Remember that whilst it is great news that the V price is so strong BMN sales prices run at least one month behind so the increased revenue will only just be starting to take effect.

On a slightly side issue some will have noted that Vanchem costs have been higher than Vametco per kgV. However Vanchem has a diversity of products some of which attract higher prices than straight forward V sales. They are also hoping that the operation of 2 kilns at Vanchem will bring economies of scale that will align unit costs at the two plants more closely. In my opinion the future at Vanchem looks very profitable. And 100% owned by … BMN.

Just my opinion.

Disgruntled my goodness you must be worried haha.

I take it you understand the difference between dilution to keep the lights on with no revenue and the issuing of shares in payment for a larger share of an investment that will generate revenue.

Your nice one liner is just a tad simplistic

…. at current V prices.

This is just the first phase of the process regarding Primorus’ CLNs already announced on 29 March RNS.

Quote below from the 29 March RNS demonstrates that BMN aware of the need to protect share price with a cleverly structured deal:

“ The decision of Primorus, one of the four investors into Mustang, to exercise the Backstop arrangement is noted and respected. We are appreciative of the agreement to receiving the BMN CLN in return for its Mustang CLN. The BMN CLN has been designed to limit any potential overhang on the BMN share price by structuring any conversion in six equal tranches over a period of 18 months."

The 2 million shares don’t come on to the market until 12 April … so no need to panic haha

Oh I think there is more than one noteworthy comment.

eg “ It is pleasing to see this orebody continue to deliver consistently, as per the reserves and resources estimates it is based upon. This gives us the confidence to pursue further growth in the years ahead, knowing that we have decades of mine life in front of us.”

Let me start with the only negative I can find about that RNS … what a strange time of day to publish it!

Now some of the good news. At 2021 depletion rate Vametco has around four decades of mine life. As I understand it that includes the Upper Seam being used to supply Vanchem with ore.

What is really good news is the consistency of the ore, allowing more confidence in future production and cost planning at Vametco.

Now it is true that as Vanchem ramps up production with a second kiln on line the depletion rate will likely increase, thus shortening the expected mine life. So it is very fortunate that the brilliant strategic planning of the BMN BoD led to the acquisition of the Brits Vanadium Project. For those new to BMN that is the adjacent resource eastwards from the Vametco mine. This will provide ore for more decades to come and significantly extend the future of the Vametco and Vanchem plants.

And I haven’t even mentioned the world class Mokopane Vanadium Project for which BMN already has the Mining Right.

Just my opinion but the future looks rather good for BMN.

Correct Squirty and as current prices work their way into BMN contracts and sales the company will enjoy excellent cash flow and profit.

The electrolyte plant is a great development but is not even factored into the share price. It has the potential through rental contracts to iron out the vagaries of volatile V prices for that part of the business. Due on line this year!

Second kiln hopefully up and running at Vanchem this year, further increasing output.

At last it appears that everything is coming together. Just need whatever the share overhang is to be cleared and who knows ….

Just my opinion.

Sorry. You will all be pleased I am back in having repurchased my 500 shares haha.

Hope you didn’t mind the odd joke. I need something to lighten the skies right now.

Kind regards. Paul.

It’s an old one but made me smile.

The Cape Town-based Institute of Energy Research has announced that researchers have discovered a new mineral element which will allow them to produce batteries at a tenth of the current price.

The mineral, Hazenile, when combined with traditional lithium nickel manganese cobalt oxide (LiNiMnCoO2 or NMC), increases energy density, lifespan of the battery and lowers the likelihood of fire to near zero.

Jan van der Merwe, head researcher at the Institute, says: “This discovery is one that will change the world. Hazenile, the active element of the battery, a close relative of the Fingerite, a rare earth metal made up of vanadium and copper. We believe this is a bigger discovery than unobtainium.”

Hazenile, meanwhile, has been discovered in abudance in the area between the Crypte and Throne Room caves in the Congo Caves complex in the Western Cape province of South Africa.

Goblesmythe I take your point about the mini grid and of course there are other examples. But I doubt any company on AIM is without some delayed actions or projects. Doesn’t make it any easier for shareholders of course.

However in fairness I can list numerous examples where this company has moved to acquisitions with appropriate speed or sheer dogged determination (Lemur acquisition being an excellent example of the latter and one that as a long term shareholder you would be very familiar with.)

Some of the important moments in their history have been distinguished by their ability to seize an opportunity when it arises. I will quote a few significant ones regarding vanadium:

Acquisition of Mokopane vanadium project
Acquisition of Vametco
Acquisition of Vanchem
Acquisition of Brits Vanadium project

They may sometimes move slower than we would like but when necessary they move quickly and decisively, and that is precisely why we have shares in one of the best investment opportunities in Vanadium in my opinion.

Just my opinion of course.

And just to reinforce the point your assessment 9f BMN is just the sort of shallow headline grabbing response I referred to. You completely fail to acknowledge the very solid progress being made by the company over that time period which has created a firm foundation for the multiple developments taking place in 2022 and beyond.

It’s a shame that you seem determined to spread negativity and can’t see beyond current share price.

Just my opinion.

Alfred YOU quoted production figures for 2019, 2020 and 2021. Absolutely impacted by everything I said.

Jack there is no requirement or specific date for Q1 results but from past experience I would expect publication in 3 to 6 weeks.

Alfredh buying a second hand plant (at a knock down price) has presented challenges in maintaining production levels and I am sure that has been a learning curve for the BoD. Something they have acknowledged.

They have responded, sorted out production at Vametco and are forging ahead with expansion at Vanchem. We also can expect the electrolyte plant to come on stream and then the commissioning of the mini grid. Who knows what may be gained on BE side of things in SA.

It is easy playing captain hindsight and moaning from the sidelines but maybe more constructive to understand what the business has accomplished and where they are heading.

In fairness to Fortune the complete collapse of the Vanadium price in 2019 would challenge the targets of any commodity based company. It is a shame that many participants in AIM are too shallow in their research (not aimed at anyone specifically on this bb) to realise that this particular company has continued to deliver on its big idea of creating a large low cost vertically integrated Vanadium platform. And it has managed this despite facing huge headwinds such as V price, Covid and SA Govt delays.

Yes targets have had to shift a bit, but not really surprising under the circumstances.

I would like to think that the company is ready in 2022 to step up to the next level and that this will be reflected in the share price.

Just my opinion.

Thank you Cindercone. One day at a time. Feeling ok so far

Regards Paul

Eatstocks/Cindercone it takes quite a lot to make me smile when I’m waiting for a phone call from my oncologist. Your comments did just that. Thank you !!!