Member Info for SickOfTheRatRace

Well that's 54 recommendations on my original post so clearly there are others that share the same views. Thanks to those who responded with their own viewpoints.

In relation to board police, whether a LTH or not no-one should be afraid of asking difficult questions as long as there is a good reason for doing so. It's one reason that in my entire time here I have never placed anyone on filter as I prefer to tackle the debate head on with reasoned counter arguments. If we cannot debate both the positives and negatives of a share then we cannot as investors make informed decisions. At the end of the day any investment decision is a personal one and based on risk appetite.

Personally I see very few risks with BMN and continue to hold. The potential of energy storage is colossal and I look forward to BMN/BE exploiting this to the full.

One of the issues I have with BMN is not the company building as such which is mostly executed in an exemplary (and often very innovative) manner, it's just the PR own goals like this announcement and the sheer amount of time that everything seems to take at the moment. They knew that all shareholders were on the edge of their seats for years waiting for Mokopane yet buried the final sign-off in a quarterly update. OK so now the right is granted it's all systems go and the bulldozers can move in to start clearing right? No, now we need another six month "study" about how best to mine it. Why was that study not done previously, or at least started after the 21st October RNS? Now this DFS is not expected to be completed until the second half of 2020! Then we have the electrolyte plant where still not a brick has been laid or a tender awarded. Or the Vametco mini grid which also seems to have stalled. Lemur now seems to have fallen off the face of the earth.

So the question is are we trying to do too much or just frustrated by delays outside of our control?

I trust you will forgive a little frustration and I don't need long posts about everything that the company has already achieved and how I should be grateful that we have gone from 1.2p to 19p (via 50p), it just seems that we are not taking full timely advantage of the opportunities we are currently pursuing. If it's third parties to blame then fair enough but you would think we would be doing everything we can to get the mini-grid in place before Eskom tenders and getting the plant built ASAP to supply the electrolyte.

Also no, I am not selling or looking for a lower entry point! Long and strong (and still Strong Buy).

Flame away :-D

A rebuttal RNS would be one or two lines. It would take seconds to approve by the nomad as nothing had changed.

However a confirmatory RNS would require additional technical details. If the engagement letter is signed, the RNS would need to contain the terms. This would require more oversight.

So which of these scenarios is therefore more likely if an RNS is currently stuck at the nomad? For me it can only be the latter.

Well we can only continue to speculate about what will kick the BMN share price into gear. For EUA it has been the release of an ACF report with a breakdown of a valuation showing 55p - 60p when the price was 3.5p.

BMN have had such valuations before. Even conservative ones put this double what it is today. Whereas once BMN was the talk of the chat boards with 2p daily rises up to 50p it has gone off the boil somewhat and I can't see how it is all V price related.

It seems Vanchem and Mokopane haven't excited the market at all which is a crying shame. Personally I thought Mokopane would give a significant boost but I also cannot get away from the spectacular own goals that this company continues to make, burying confirmation of Mokopane in a quarterly report. News eagerly awaited and "imminent" for years finally confirmed yet seemingly on worth a couple of lines in a quarterly. Or is the issue for AIM that we are a producer now? If we were just an explorer and announced the Mokopane licence would we have gone up 100%?

So what is going to ignite this? Eskom contracts? Other VRFB leasing deals? JSE listing? Lemur sale? Dividend announcement? SETS? Move to the main market? Something completely unexpected like a takeover bid? I honestly don't know. Not much that happens with BMN seems to make logical sense when it comes to market reaction.

Well I cannot disagree with the sentiment.

Vanchem completed 7th November. Share price 22.25p. V price at the time, $29.5kg China, $23.3kg Europe.

Price today, 20.25p. V price $29.5kg China, $25.6kg Europe.

Vanchem increases production figures by over 900t a year, Vametco delivers record production as per the last quarterly update.

BMN value in the interim? 2p less.

There is no logic on AIM.

Excellent news Derek, a weight off your mind no doubt. Best wishes.

mj_analyst no problem, I also saw this as a somewhat desperate deramp along the lines of what if a meteor hits the mine.

Just for the record, I am long here and looking forward to either an asset sale or dividends from MT production, it's a win either way.

mj_analyst not sure why you are asking me, I didn't suggest it would be nationalised.

krayzkat much as I would love for you to be correct no mining company ever has or ever will be valued at 100% of in ground resources.

"Whats the share price if Putin decides to nationalize it?"

More than the pack of straws you are clutching at?

haha PIface i'll buy that for a dollar :-)

They are still at the Mining Indaba until the end of Thursday so I would say RNS today unlikely, but you never know.

@Amers market size is supposed to be the maximum number of shares that the market makers have to quote for within the current spread and they are supposed to offer at least that amount when requested. Larger trades can still be accepted either inside or outside of that range but not guaranteed.

To be honest it's pretty meaningless anyway, I have been in shares where the market makers will shut up shop and you cannot buy even 1 share at certain times regardless of what any market size says.

Wow, who knew. Market makers making deals they ultimately cannot fulfil. Makes a mockery of some investor commentary that says every trade must have a sell and a buy doesn't it?

So it would appear to confirm the long held belief that in fact the market makers are happy to go on tick with sales hoping to drop the price to get someone else to sell before settlement.

I will note the HSBC response with interest. Halifax still have the doors open by the way.

Well it certainly looks underhanded if the consensus is that the news of going on flow test would put the shares above the value of the placing. Holding the news of flow test in order to get this boat sale away first would then appear to be manipulation to pay lots of extra shares for the boat that wouldn't otherwise be necessary, thereby increasing future dividends purely by holding more shares.

We were waiting for news of the flow test at the time this boat announcement was made. So they make it look like good value at 12p because it was a premium over the price at the time as a sweetener knowing full well the shares would have been higher if the flow test news was out first. Valuing shares at 12p pre flow test news would appear to be a good deal for someone, just not us.

LSE (the real one) not showing any news releases.

Well clearly I am the only one who sees a problem which is disappointing. Unnecessary dilution affects all shareholders when future dividends are paid as our slice is then smaller.

Excellent news numpty!

I have been in another share where a consideration was settled with shares at a certain amount, only problem was on the settlement date the shares had gone up significantly and suddenly it was a very poor deal indeed.

So the cynic in me sees a deal at 12p share value for these knowing full well that once they announce the deep successfully flow tested the share price will be much higher. So actually we won't be paying $25m in dilution at all, we will be paying the number of shares multiplied by the price at that time. So if we vote and agree to the deal and the share price at the time is 20p then we are significantly overpaying!

So if there is room for debate at the meeting I would be saying that the $25m should be settled by an appropriate number of shares at the time the deal is ratified by shareholders (can still allow the premium percentage).

Why would the market be impressed by a dilution for an asset that has sat in docks for a year when all it really wants to hear about is a deep going on flow test.