Member Info for SickOfTheRatRace

@Endion OK if I misinterpreted I apologise. On first reading it appeared that you were advocating the company not revealing the reason at all but I see now that wasn't the case and you were saying tell us after the settlement. In which case I agree with you.

raffym interested in your reasoning there. Are you saying that we are only here at 19p because the company followed AIM regulation regarding price sensitive information and was transparent in telling us there is a strike and no resolution yet? Despite the actual strike value being no more than around 0.5p - 1p a share?

I don't believe for one minute that the drop from 23p to 19p on the back of a few days of strike action is in any way justified.

Just for balance with Alfacomp, I disagree with you. We need to know that the dispute is completely settled so there is no doubt going forward. Doubt/ambuguity feeds shorters.

At the moment we don't even know if this dispute is for the same historical reason as the last one or if they are two completely independent grievances, albeit both historical.

I am not saying we need to know every minute detail but as shareholders we cannot make fully informed investment decisions unless we at least know the reasons so we can judge how likely they are to reoccur.

Well personally if I was being asked to participate in an unprotected strike one of the primary things that would be on my mind is that there are a lot of highly skilled workers being laid off from other facilities in the area that will be desperate to find work. Therefore my position in the plant is not as strong as I may have thought and dismissal in an unprotected strike scenario is a clear and present danger.

I appreciate emotions are running higher than usual however the 30% drop is not solely down to a strike. As I posted previously less than 10% of lost production detailed in the last quarterly update was down to industrial action. The other 90% was down to items within company control which they clearly stated they know about and are taking actions to address. So if our original drop was being judged solely on production then of that original 5p we lost only 0.5p is attributable to industrial action.

Of course the percentage depends on where you are measuring it from, 28p or 23p. If 28p then the above applies. If 23p when this strike was announced then the drop is 17.4%.

It is also clear that given shareholders were more than happy to support the company after the announcement last week, so much so that we were even up at one point in the afternoon, there is something else going on and this strike is being used as a convenient excuse to erode the share price. Particularly as despite buys outweighing sells by some margin each day we are being continually marked down. I am sure that LTH sentiment is largely unaffected by this and the vast majority are "long and strong" - and posts indicate many are taking advantage of this and accumulating.

The reality is therefore somewhat different from a perception that this drop from 23p is all about a strike. It's about shorters making money backed by warrants using the strike as a convenient excuse. The impact to company financials going forwards appears to be minimal thanks to increasing V prices.

Certainly what you said about getting other areas of the business on line is true, the more diversified we are in terms of income streams the less a specific stream will impact the business. I am particularly looking forward to this BE plan as I am sure many others are.

Block16legend I doubt there is a single genuine shareholder that doesn't want this situation resolved as quickly as possible. By genuine I of course mean any shareholder that is here for price appreciation and the ongoing success of BMN.

The only people who don't want it resolved as quickly as possible are those with a vested interest in the share price being lower than it is now.

How is alleged misappropriation of community funds paid in good faith the fault of Vametco?

Should I picket local business here because the council hasn't used their business rates to fill local potholes?

Or should I actually go and picket the council instead?

Was it you?

Remember that the majority of reds this morning were also buys!

In relation to the strike, anyone local able to fly a drone to the plant and see if the chimney is smoking?

(only a semi-serious request!)

Regardless of what games are being played or the motive of certain posters today, they are not getting a single share out of me.

A blip in production is infinitely better than the position when I bought in. Given the choice of not owning a mine/plant at all or a couple of days blip I will take the blip any day of the week.

Remember - H1 results will not be affected in any way by this particular incident. The previous incidents are already known and will be part of the figures.

Still amazes me that we have come this far and whichever way people want to dress it up we will go from a continually loss making company since incorporation to posting our first ever profit in the very near future - and a thumping profit it will be.

Great news Nick. So we could build the mine and pay for it out of the profits from the first year!

Incredible stuff.

Endion have you seen this? http://www.bushveldminerals.com/csr/

Interested on your views regarding how this fits with the community issues you mention.

I don't think these were YD warrants, private placees from some time before we even heard of YD, such as AIM_Chaos?

This drop is artificially manufactured and has nothing to do with company fundamentals. Look at the trading and try and justify the drop from 22 to 20.5, there isn't any.

For true sentiment you only have to look at what happened after the last RNS. MM's plummet the price and PIs piled in. At one point in the day the price was blue! The board was calm and collected over the weekend. Then suddenly Monday morning it's the same old story. Still PIs are piling in (including our resident confidence buyer fatbanker), buys outweigh sells yet of course the same market BS, we are down.

I am of the opinion that once again warrants are being used to manufacture an artificial drop. The sooner this plague is wiped out for good the better.

Showing now

Some light reading!

https://uk.practicallaw.thomsonreuters.com/1-503-4810?transitionType=Default&contextData=(sc.Default)&firstPage=true&comp=pluk&bhcp=1

"Those looking in from the outside may be impressed to see just how highly regarded this company is by its shareholders, who are not billionaires or oligarchs but ordinary hard working people, just like those employed at Vametco. We welcome them joining us as stakeholders in this great business and building the foundations of an Energy Storage industry in South Africa."

Well said Alfa :-)

http://www.proactiveinvestors.co.uk/companies/news/204430/bushveld-minerals-reports-unprotected-industrial-action-at-vanadium-mine-204430.html

Nothing new.

It's interesting to ponder who did know about it. After all Vametco has hundreds of employees, it's a stretch to assume that given that number not even one piece of information got outside the plant.

It will be very interesting to see the market reaction when the RNS is released saying the action is over.