Thoughts.27 Mar 2021 08:24
Fortune is a strategist and a risk manager. There will definitely be reasons why Comms are the way they are. The business isn't oblivious to sentiment or the fact that communications to the market have an impact. They also will know what their own share price is, where it has been and how far from those highs it is.
A lot hinges around the company getting VRFB over the line and adopted in SA - it opens many, many doors for the company for Belco, Enerox, localised minigrids and VIP investments. It is also pretty sensitive given the economic context - which has been exacerbated by covid and has also meant taking on legislation, Gwede Mantashe and his fetishisation of fossil fuels, Eskom and its woes as well as helping position the VRFB industry to be able to thrive with enough vanadium at a decent, stable price to allow it to grow. Alongside that, we have the broader setup of leasing contracts which stand to be a more global endeavour, VERL and projects such as the Pivot Power UK project which albeit quiet, if you recall had another 40+ projects beyond it. This is a huge amount to get over the line and it has to be done alongside growing the core business that pays for and supports it.
As frustrating as some of the recent ride has been - and I won't pretend otherwise, the reason most people are here is because they back Fortune to pull this off. I know I do. No doubt if covid hadn't hit, we would already know a lot more than we do.
It's definitely difficult to just keep your eyes on the end game sometimes. Particularly when other shares perform hugely better and part of the journey to get there is a two year decline in SP, that not many foresaw. On this score perhaps some of our more righteous posters should be slightly more humane to others who might let off steam occasionally in this regard. We have all been through the year of covid, and people are worn out and want to see us bouncing back. I think some could further do with remembering this is compounded for some of our investors by high averages, which at times they may also have had but not in a situation compounded by other factors as recent times has been. Even LTH's show their own frustrations when they are having a go at others for not posting exactly as they would wish or knowing everything they do.
That being said, people are still here. They are still buying shares and they still believe. Look at yesterday. It was brilliant to see that out-pouring of buying. What an endorsement of the business that was. If it was my business I would take much heart from days like yesterday. There's a lot of belief out there.
I don't plan on spending this weekend talking Bushveld but what I will say is trust Fortune. He will deliver and he won't be settling for a £200m business being shown up by FAR. Most of us know BMN is already a maturing beast of a company worth way more. Personally I believe the company are being more aggressive than most give them credit for.