Petro Matad CEO Mike Buck confirmed that he believes the Exploitation Licence for Block XX in Eastern Mongolia is likely to be awarded in Q2. Watch the full video here.
J2k66, agree holding can be a difficult time, particularly in a share like BMN. When PI's see a strong and continually rising price fora commodity (in this case vanadium), many articles stating that to assist the electrification of much of the world and its transport needs v-flow is the must happen above Lithium battery storage options, that there isnt enough of the base commodity available and mined, that China has already fired the starting gun regards its vanadium requirement for steel, battery etc projects - there is no wonder that investors see all these a positives to drive a well managed companies shares upwards - I for one am starting to question why in such perfect conditions BMN cannot flourish, and I dont believe that II's are depressing the price to push out PI's and pick up shares at a bonus rate for future growth. If I ever get to why the growth hasnt happened, and in fact there has been a reduction in SP (significant when it went close to 15p recently) I will post. Trying to rely on conspiracy theory doesnt cut it for me, there has to be an as yet uncovered reason why again, BMN under such ideal conditions cannot make gains. I liken this to my last tomato plant project - perfect soil, perfect nutrition, perfect watering plan and perfect sunshine, but the buggers still wilted and died! I hope that BMN dont suffer anywhere near the same fate - but I believe many PI's are sitting at their pc's wondering why and what will make this improve. I only have small holding and havent topped up as I fear the jam tomorrow scenario which has cost me dear in other investments.
China Steel futures also showing major push upwards as contractors forecast significant future demand. If vanadium steels are now a key requirement for strengthened steels in areas potentially at risk for subsidence and quake activity, then v-producers should be seeing some increase, not a reduction in SP. Both Evraz and Largo much more stable in recent 3 months - whats the issue with solely BMN??
Well, as the lady sang, I AM still waiting. Have been in with BMN for about 3 months or so (18.75p) on the back of wanting to get in on a possible riser early doors, and having been swayed by the very positives views regards V-Flow battery futures, however, although only a marginal decline in SP, I am starting to be mildly concerned that despite all the tenders, demand and builds for vanadium products, BMN remains static, even possibly stagnant... In my time with BMN, Evraz has moved from approx 475p to high of 600p (now back at 535p) and Largo has moved from approx 12 CAD to 18 CD, BMN has has moved slightly downward from 18.25p to 17.5p. In Diana's song the lines that follow "I'm Still Waiting" are worry as they are "Oh I'm a fool / I'm Just a Fool, to Keep Waiting etc" Has Miss Ross actually sang the BMN Investors Theme Song?????
400+ has been a long time coming, and a bumpy ride for us that bought in at 400-415p range, so I for one am now glad to see this previous glass ceiling. Let's hope it can be retained, supported by analysts favourable moves from Hold to Buy with Target Prices in the 475p area. My concern is that many LTH suffering a bumpy ride over last 12-18 months and previous unfavourable news articles regards the structure, BoD endlessly revolving etc, may consider this thge bail out price, unless it holds for a few days. With a 7p divi paid, and a 14p divi due in May, does anyone think that another will be paid late 2021 (my divi calendar is out of wack on AV reinstating 2020 divi etc) or will a Special Divided be paid as part of capital return program. Wow, how I wished I had the stones to buy at its low range or anywhere near sub 350p, but I was too busy licking my wounds!!
Some great info posted, however the acid test for us all is simply a share price increase. Despite the positivity on BB it does actually press up the SP which has languished below 19p for far too long. Even with all the recent reasoning and speculation, its gains which we all need to see and time is causing restlessness in many holders portfolio's. BMN needs to deliver and settle around 25p to gain the faith of many of its holders. If VF is the golden nugget, we need to see this transfer into SP gain.
My God! What an advert for your local Government Minister! Lets hope that whilst his strength is NOT public speaking, its in delivering the right strategy, policy and numbers. I do worry if the fortunes of BMN are in the hands of public servants like this!
Havin g just come thru the TSCO debarcle regards SD and consol, I am feeling bruised and hence may not fancy another kicking. TSCO gave SD of 51p (approx 20% of the SP value at the time) and then clawed back 25% of everyones holding by 25% in an attempt to stop the share price declining EXD by 51p. What a **** up !! BB is full of disheartened investors as not many felt the trousering of the SD, and the SP has fallen from its jan high of 260p (approx) to 220p,a nd languishes. After buying i10k of shares in 2019 at average of 396p I have only just recoved my investment sum, and the divi suspension in 2020 didnt help! So I would hate AV to give up all its gains, but I am encouraged by the "substantial retrurn to shareholders" statement and so will hold a bit longer, hopefully it wont do a Thomas the Tank engine and run out of steam before I can act!!
After being swayed by the absolute need for V-Flow storage solutions, I am, like Enginhere wondering if this share will in fact fly. More experienced vanadium investors than I continue to be stumped as to why this share isnt actually moving and I despair that "jam tomorrow" statements abound at 50p SP valuations. I dont know enough about BMN generally, but is there an issue with the Board and the II's wanting to back them? With V prices strong and other miners/producers faring better in recent months, what is actually holding BMN back. I was mildly panicked when I saw the sea of red sells for most of today. I will have to pay more attention and consider if this is worth a hold. Shame really as I had decent expectations of vanadium investments.
Re TSCO languishing share price, again am afraid that there is more hope than fact. This is a FTSE plodder and doesnt inspire a "must buy" ethos, by anyone, PI or II. Historic accounting ****-up's and now a poor outcome to SD and consol program, coupled with at best 3% average divi yield see's so many more exiting opportunities which many will look to unearth and hence return profit. My comments disappoint me, as I am a TSCO holder but even after stellar trading in 2020, the SP lags massively behind value. SP has fallen 18% since Feb highs and now actually trails the FTSE index performance substantially. Am afaid it give sme no pleasure to see this as another "jam tomorrow" BB statement, when in reality, if trading gets tighter then SP will probably head south towards 210-220p. Sad really and will probably encourage a heap of shareholders to sell as soon as the 240p consol breakeven point is reached, especially many that converted the SD to shares at approx 225p.
Every new broom comes in and focuses on cost reduction and streamlining back to core business. It's simple commercial horticulture, trimming back is so much easier than securing quality growth. I long for the day a new CEO stands up and goes on a strong offensive to build a business through growth, not just making numbers look good by reductions. I also long for a Premiership Manager who can grow a successful team from the roots up and not simply buy one. Mr Ferguson was probably the last to do this.
Thanks Jaffjoon, as you can see it's very unclear. Stevebt believes one payment in September, you see 125p end March, but PSN site shows 110p end March and 125p in July. Not sure how we get clarity. I may email PSN Co.Sec and ask for their clarification.
Can anyone help with clarity on PSN 2021 Divi program. The corporate web page shows under Capital Return to Investors confirmation that 110p is payable end March and a further 125p payable end July under the New Plan, however search as I may I cannot find any EXD dates confirmed. I am assuming these payments still stand otherwise the web page would have been updated. I see that 110p divi payment has been announced today, so should we also expect the 125p in July also?
Agree the valuation is mystifying regards SP levels. My concern is that on this and other BB's, many seem happy when shares fall and so buy-in levels are attractive, but at some point, the likes of TSCO MUST see a sustained increase, we cant always have sustained falls for buy in, there no value in that as the price will settle lower than a genuine Market Cap valuation and shares will stay depressed. I sold JET2 near its 1500p top and put into TSCO for the SD as a quick buck, but didnt happen as the SP continues to languish circa 220-225p, 6p above my buy in. Personally I would like to see a SP rise rather than ongoing spiral, as i dont want to buy more and want to see a profit on whats already in the pot.....
Underdog, to a point I agree with your post, HOWEVER (sorry for caps!) TSCO SP has remained stagnant during the recent bullish FTSE100 run, in fact depending on your date range it has fallen against FTSE. No matter what is said, the SD wasnt and the consol has caused more bad feelings than good. TSCO planned to try to hold price above/around 240p and this hasnt happened, add again the fact that FTSE has risen fairly strongly recently, TSCO hasnt so on many fronts this is a plodder, so I for one wont be getting exited regards SP growth in the short term. TSCO hit near 260p when there was interest in its SD as investors expected a 51.3p trousering, but many didnt do the recalulation after consolidation, and hence it is now back "home" mid 220-30 range. If you agree that dividend will be approx 60p in 2021 including SD, the DYield is 2.6% based on 223p per share, not great for such a sizeable and profitable business. I wish you well on your SP increase, but I firmly believe its going to be a longer timescale than you suggest. I certainly dont see 300p by year end, however as my Buy-In was 219p and i converted the SD to additional shares, I am not concerned yet, but the amber light is soon to go on!!
So it now seems its official, we are returning to our normal daily pre-covid lives, how do I know this ........ merger stories about Aviva and LGEN have re-started !!!! It's like we have never been away for the past 12 months!
ConMan94, no but understand how fickle this looks, as you say after 1 week. I looked into Largo/Evraz and BMN before stumping up cash. EV has moved up 5% in 5 days whislt Largo ahs dropped and BMN has stayed the same, so at least I am middle for diddle! I took BMN due to VFlow batter developments and increased demand for vanadium 2H21 and beyond, but again as a newbie, maybe the recent selling by Directors and no progress in SP despite strengthening v prices. I have seen this pattern before on my investments, just after i commit, something happens to the downside. I was hoping, as we all do when we buy, to see some lift in price so I can reassure myself...... very happy to watch and wait and even top up....
As a newbie to vanadium miner/processor market, i took a small £3k buy in BMN as I believed under valued on SP, but was concerned that many posts over quite a period suggested "jam tomorrow", not unusual, its the same on many boards. Tracked BMN to 16.60p but purchased at 18.5p, but in honesty had hoped that with VPrice touching $35 there would be advancement in SP. More than any of my other investments I have studied BMN site closely to gain an understanding of it and hopefully the vanadium market, all good knowledge but in reality, its the profit motive which now counts. I hope that BMN shows some progress. What I am next to try to underatand is if the management of BMN is capable of taking the company to new heights. Unfortunately, so far all I have seen are RNS detailing major sell-offs by Directors, all be they for paying of tax liabilities etc. After a bruisng time on greatland Gold (getting in too late!) I would love to see some sustained blue growth. Is my faith and hard earned money well placed??
Agree with RedBarron, the Tesco SD followed by a share consolidation has been poor on many fronts. The SD wasn't a SD as the clawing back of 25% of everyone's holding generally meant a standstill, and the grand plans to hold up the share price at 240p+ via the sorry process hasn't happened as market dictates share prices not Boardroom shenanigans. The TSCO BB is rammed with unhappy shareholders and after AV's disgraceful dividends policy in 2020, they cannot afford to piddle off their LTH again, especially as many threaten to sell in droves at 400p+. A SD process would be a bloodbath of selling prior to SD EXD date to avoid the SP drop.
Well, now its clear. The consencous of opinion seems to show that the SD was a damp squib and the benefit has not been felt in a major fashion by shareholders especially when the consolidation kicks in (25% reduction in holding). It is also clear that Tesco BoD's plan to use consold to prop up the EXD share price has failed as it has now retrenched from 250p to 224p, a tad over 10% reduction, so thats another failed management strategy. Yes a few have felt it positive but looking at this an other BB's its not been a great success. What with dodgy accounting, double charging at tills and now this poor outcome, does anyone a Tesco think the delivery to customers and shreholders is just not good enough? As a leading FTSE100 player I personally hoped for better. The big lesson we all must see, including any guru's who stood steadfastly by the BoD action to make the consol to prop uf the EXD share price is simply that the market will dictate the share price and not Special Dividend / Share Consol etc. I wonder what would have happened to the SP if no SD offered, no Consol and all the money went back into the business as repaid debt and investment. Most likely we would have fallen EXD amount but recovered to near where we are now. As per my school reports "mustr try harder" and "could do better" sums up the current Boards delivery.