Member Info for qwertyqwer25

About to watch the interview. Has anyone worked out what our expected cash level is currently? My my calculations at current V prices we only need less than 2 years of production at Vametco to fund the $65m combined Mokopane and Vanchem refurb costs. I expect Vanchem profits alone will cover Vanchem refurb so Vametco profit can cover Mokopane and Vametco phase 3 plus dividends and other investments.

Was looking last years chart and saw 11th September to 19th October the European FeV price went from $80 to $128. So in 5 weeks a $50 rise. Wonder if we will see a similar ramp this year and this time there are no excess stockpiles to draw down on whilst rebar standards get implemented. Ideally a ramp to $70-80 and stabilization there for 6 months would be ideal and generate a lot of free cash flow to be diverted to Vanchem capex, Vametco phase 3 and Mokopane.

Taking another beating today. Would be nice if V prices just rose a little more towards $50 to give us a bit of a cashflow boost. Perles has called for a price rise and hopefully we see it in the remaining few months of 2019. Personally I don’t see the business case for bringing on much new V projects at this V price. I’d like to see the Vanchem and Mokopane projects funded through continued cashflow whilst I’d be keen for Fortune to take on debt to fund share buybacks at these low prices. The SP is sliding because AIM is a traders market so people aren’t interested in this stock because it won’t double overnight. I remain confident BMN will never achieve full value on this casino market but it will provide a good opportunity for cheap share buybacks. Maybe when we reach £b status we can make a move to the main market.

Fellow matadors the bull's horn has punctured us and now the bear is ripping us apart slowly. We can only hope Mike Buck comes to the rescue and saves us from this deathly experience.

I wonder if this company will ever do anything right...

V prices are still in the doldrums. I’m waited enough but now accept there is plentiful supply of V to the market to balance the demand. I don’t expect another price spike and hopefully we can stabilise around $45 towards year end to help the battery business grow. Still expect this to be a £1b company one day but that day is much further away than I originally expected as the market has found a V source no one was expecting...even the almighty Perles has missed a little info here. Not sure how any of the other V projects around the world are going to find any funding at these prices but at least Bushveld doesn’t have that concern.

Wish I’d sold this on the spud news. Same as every oil share it’s starts to collapse after spud. I guess MATD has a 100% duster record so everyone is fleeing from the risk. Wonder how far this will drop. Maybe a little rise on the next spud but probably will head into the first drill result period around 7-8p after a drop into the 5-6p range.

Checked in here a while as watched the SP not moving. But my lord the V price is still so low! Where did these magic stockpiles appear from haha! Hope the poor demand for non-stockpiled V improves soon as the inventory levels drop. Need Vametco to rebuild our cash pile before the BE business starts flying!

Oh dear Mr Delboy deramper had a bad morning with your weak sell rating so you can buy in cheap. I do agree the £1+ target are way out of whack with reality considering the current sentiment on AIM. We hit oil on every well and i think 50p is possible but i expect one or two dusters. 15-20p for me would be fabulous result but with the high risk involved with a company that historically specialises in dusters this remains a risk mitigated punt only due to the high CoS of the wells we are drilling this summer.

Sellers out with maximum attack this morning. Nothing we can do about it and the FCA don’t care so just have to let it play out. Nothing has changed with the business model but AIM sentiment has got significantly worse compared to the already crap sentiment last year. I genuinely believe the only way for BMN to achieve fair value is on the main market but it will take time to get there. Either way with good progress we should still reach a £1b valuation some time next year.

Invested here from last year with a 9.2p average and have got interested again as we are so close to drilling. I’m hopeful as you all are we will have success on at least one well but I’m seeing SP predictions saying we will bag from here pre-spud and hit 50p one one drill success and £1 on 2 drill success. You know that’s a market cap of £700m for a £1 share price right? Can someone explain why such high valuations are being thrown about? AIM is not what it used to be and personally I’d be extremely happy with 15p which I’ll sell out at and leave some free carry.

https://finance.yahoo.com/news/kingdom-mugadza-tirisano-partners-battery-141700818.html

Hmmmm. I wonder if BMN could be involved in this. Actually I’m pretty sure they will be!

I want a bounce to $70-75 and stabilize before slowly coming back down to support the VFRB industry. Unfortunately with the projected deficit in the market I think $100+ is likely at some point this year but hopefully it will be short lived. If it happens I’ll certainly sell some shares at 50p+

Amazed the V price is still not recovered back to $50+. The stockpiles built up must be much larger than anyone expected. Waiting avidly for the price rise Mr. Perles has mentioned but starting to wonder is anyone has a clear idea of what is going on in the V market at this point. Almost feels like someone found 10000 MTV of V in their back shed that had been forgotten about lol.

Shame i missed out on the 20p buying opportunity as was away from the screen! Nice to see the RNS out too. Lets wait for the turn round in V prices to end this downtrend. At these prices any new V mines will certainly not get any funding.

$40 it takes 46 days of 2% rises to reach $100. When the stockpiles run out I expect a continuous rise daily due to the deficit. Personally I hope prices don’t get much above $80 as it hurts the BE business but I fully expect a rapid rise in prices whenever prices turn back up as there is simply no extra supply. If V had a futures market things would be much less volatile but it is what it is. Fortune doesn’t care about the V price as he is busy making sure BMN will be able to supply a market in the future which will demand a lot of V.

Am also surprised the V price is still falling. It certainly is impacting our SP now along with shorters. My main concern here is how have so much stockpiles been built up? I suspect it’s Glencore stockpiling over 2018 and forcing a price rise and then dumping from late last year. There is a V deficit so we know prices can’t keep falling. This is also fantastic news for VFRBs. Hope orders for new systems go through the roof with such low prices as it gets the technology out there. Once BE is up and running and we have a good order stream we will all be rejoicing at low prices

Can anyone confirm if the Vanchem acquisition comes with a year of ore stockpile and all cash held within the business which will be growing with continued production until the transfer of ownership date? It doesn't make sense to me that Vanchem would come with a year of ore stockpiled (1000 MTV) worth $50m at current prices plus any cash held in the business for a price of $68m. That ore would be converted to $25m profit to add to the likely $10m+ cash in the business. I'm sure i have got this wrong so hoping someone can explain.

Not too bothered by the false drop if its meant to help the shorters close out so we can re-rate back to above 30p

March production looks great. Its over 3200 MTV annualised and hopefully it can get a further small bump up to 3400 MTV annualised over the year maybe if they can make more improvements during the maintenance period. The real growth driver now on the mining side is Vanchem/Mokopane so hopefully FM can keep that on track more so than Vametco as Vanchem should be able to pay for its $45m investment from its own cashflows leaving Vametco profits to fund Mokopane and dividends. Mokopane/Vanchem growth is also a priority for fueling BE.