Member Info for Pdub

Vanadium prices continue to rise in China, but rises also recorded in USA and Europe.

http://www.asianmetal.com/VanadiumPrice/Vanadium.html

Oh and I forgot. Dollar / Rand rate improving in favour of BMN. ie costs in Rand, revenue in US$.

And Vanadium price in China is on an upward trajectory

On the other hand:

Vametco production now stabilised following maintenance shutdown.

Production target exceeded every month since restart of production in April.

Costs falling compared to Q1 as fixed costs per unit fall.

The company has negotiated bonus scheme for workers that is recognised by the unions.

Welfare of staff through Covid has been well managed.

Vanchem production raised and very stable since BMN acquisition.

Finance in place for refurbishment of second kiln at Vanchem.

Work to refurbish second kiln underway. When complete Vanchem production will rise from currently around 1000 mtV pa to 2600 mtV pa. Production should begin in 2022

Raised production at Vanchem will significantly lower costs of production to levels similar to Vametco.

Excellent progress being made at electrolyte construction site. BMN have released photos.

Electrolyte production to begin on 2022?

We await news with regard to Bushveld Energy activities, some of which appear to be covered by NDAs.

So there is plenty of good news with regard to the production and other business activities at BMN.

Thank you Admin

Precisely BonScott.

I have already emailed Admin to check identity. Hope others do the same.

info@lse.co.uk

Noddy go to this page on BMN site. Deals with predicted Vanadium shortfall over next few years.

https://www.bushveldminerals.com/about-vanadium/

I would like to correct an earlier post of mine where I used ‘sloppy’ labelling. China’s production from processing iron ore for steel is called co-production, not secondary production.

Apologies for that.

Here are some useful definitions I have taken from BMN website.

* Co-production derived from iron ore processed for steel production remains the main source of vanadium, accounting for 72% of 2020 global supply.
* Primary production involves salt-roasting, water leaching, filtration, desilication and precipitation. This accounted for 18% of global supply in 2020, and rose year-on-year in tonnage terms, even though its market share percentage decreased relative to 2019.
* Secondary production is the recovery of vanadium from fly ash, petroleum residues, alumina ****, and from the recycling of spent catalysts used in crude oil refining. It accounted for approximately 10% of global supply in 2020.

Dear oh dear.

I think it is time I binned you Faramog.

Enjoy Christmas.

Faramog given the comments you have directed at me you were rather harsh with Indigo. If I had written a comment like that you would explode with indignation.

You can be as rude as you like to me, not a problem. But please show others a little more respect.

Faramog I am asking your opinion about the period 2018 onwards and whether or not the BoD can choose cash or shares within their remuneration package. I don’t think they can but would welcome correction on this point if I am wrong.

I have been accused (wrongly) by you and others of being selective with data. That is not the case as I don’t think the BoD have the facility to make those choices in the Remuneration Package. I am being truthful given what I understand to be the case.

Given that you accused me of being selective with data would you please demonstrate that the choice does exist in the policy from 2018 onwards (ie by quoting from the policy) or accept the I was only using relevant data in my discussion with Coffeecups.

I am not being rude or patronising. I am simply asking for fair treatment by you.

Is that too much to ask?

Faramog you have lost me completely mate.

Would it be possible for you to address the points I raised rather than insulting me again? I am interested in your thoughts about the topic.

Faramog you keep accusing me of being aggressive. I wasn’t in the least aggressive to you. I simple tried to explain for the umpteenth time that I was only discussing Coffeecups comment relating to choosing to take payment in shares rather than cash. To the best of my knowledge that only happened in 2017 so that is the ONLY reason I used that data set.

I did not use data from 2018 onwards as I believe that since the complicated Remuneration Policy was put in place the size and methods of payment of bonuses was not a choice open to Directors as it is determined by the formula in the policy.

It is NOT a question of being selective with the data, it is a question of using the relevant data. How many more times do I have to state this simple point before you and others get it.

What no one has done and would actually be helpful is to demonstrate in the Remuneration Policy the clauses that allow Directors to chose between cash and shares. If such facilities exist then my assumptions about 2018 onwards not being relevant would be incorrect and I would happily revise my thoughts. Perhaps Faramog rather than being rude to me (yet again) you could show me that Directors can choose shares rather than cash in current remuneration scheme by quoting the relevant section from the policy. I might be wrong but as far as I am aware that is not the case.

That is the only reason why I have not used data from 2018 onwards.

I am not discussing the level of Director’s remuneration, only that they chose to take payment in shares rather than cash, as stated in the 2017 Final Report.

I am not justifying the level of remuneration.

I am only responding to this statement from Coffeecups: “Or they only took it in stock as couldn't rip it out in cash ...”

Despite the rudeness being directed my way I am trying to keep to the point but please help me out by reading my posts properly.

Phimx there was no intent to offend. However your previous comment reveals a particular attitude towards AIM Directors in general and appeared to suggest you would take that side of the discussion I was having with Coffeecups.

If you are saying you don’t think that of the BMN Directors then of course I apologise for any offence.

Thank you again for using my correct name. Not everyone on this bb is that courteous.

prussell a very fair post.

And thank you for your well wishes. Appreciated.

Regards. Pdub.

Bushy I send you and your wife my love and best wishes. Your wife sounds like a fighter. Chemo is tough but something you just have to learn to live with.

From experience I can tell you that the support of one’s partner is so so important, and I know this must be very hard on you too. Just being there for her makes all the difference.

Thank you for your support and I will of course remain positive.

Kind regards. Paul.

Phimx thank you for spelling my name correctly. I appreciate the effort.

However, neutral?

I quote you from 11 December:

“ Bristolblue: I have yet to see a company were the directors get excited and buy in any serious way. Why would directors spend their own money when they are gifted large amounts of shares for, in many instances, mediocre performance.”

I think not.

My point is that when the Directors had the choice (2017) they chose to take retrospective compensation in shares not cash. It’s in the relevant RNS. It’s a fact. It really is not up for debate.

Vanadium prices continue to rise in China, in particular Vanadium Nitride and Vanadium Pentoxide.

http://www.asianmetal.com/VanadiumPrice/Vanadium.html

I promised an update on the feedback from my recent scan.

The good news is that no tumours have been found outside the liver.

However there is some uncertainty as to how successful the SIRT treatment has been. It is likely that further investigation is necessary, possibly involving another scan.

Naturally I am disappointed but still hoping for better news to come.

Have a good weekend.

Regards. Paul.

Exactly right pb940. This is all in the public domaine.

Then you need patience Calamari. Mining companies can take years to explore, prove, seek permissions, build, dig, process, sell, expand, diversify.

BMN have achieved all of the above. It’s not been easy, it hasn’t been quick (although buying two existing processing plants rather than greenfield developments cut years off the timeline and was considerably cheaper!), some of those stages are ongoing and they have had to deal with global issues that created significant headwinds. Yet here they are … still forging ahead with their plans.

Some would argue that BMN are approaching that moment in time when everything comes together to give the market a better appraisal of the company and lead to lift off with the share price. I wouldn’t disagree.