Member Info for SickOfTheRatRace

Something to pass the time if you haven't seen it, progress of the Eskom battery deployment. Includes pictures of groundworks and the actual battery being examined in the US. Given this deployment is due to be completed next month, it should be safe to assume that the battery is already in transit from US to SA or has already arrived. http://www.bushveldminerals.com/progress-of-the-eskom-vrfb-site-what-you-do-not-find-in-an-operational-update/

The project page on BMN says multiple times that it is an initial 60MW which would indicate there is already the desire for higher than this, plus two exploration permits to hopefully increase the resource size.

Alfa/BBN I hope people are reading what you have both said about coal/Lemur today and really taking it in. Although not the primary focus of BMN this is far from a forgotten asset. The importance of signing this agreement is huge, being greenlit by the incumbent government is the kind of news that if Lemur was already a standalone listing would have likely boosted the share price by 50% - 100% or more. The news that says not only do you own an asset in the ground with a plan to use it, which is the point at which some juniors fail, you now have state permission to execute that plan. For a junior outfit this is company making news, the signpost to production and income firmly in place. Now I appreciate this project is still 3-4 years away from completion. What it does say to any potential suitor, whether said suitor is already known or currently unknown, is that the permissions are now in place and the value can be unlocked. Is there any better position for a small company with an asset than government permission to proceed? Alfa quoted a fair price of $10 per tonne for the asset, $1bn GBP. I say again $1bn GBP. I feel the need to restate it because I am not sure people have understood the implications of that value. Should a sale actually occur at that level, that's almost 94p a share at today's issued share number. 94p for an asset that investors largely either don't know about or don't care about, when depending who you are reading on this board is a similar share value for Vametco. 94p a share potential for a non-core asset, and only for a coal sale should we decide to do it. Halve it if you like, to $5 a tonne. That's 47p a share. Yet here we are at 20p with everyone focussed on Vametco and Bushveld Energy. A question many investors will have is does coal have a future, can we actually achieve a sale? Well just ask Glencore. Chief executive Ivan Glasenberg said he believed thermal coal still �had a life� because of demand from emerging markets. �The developing world � India, China, Malaysia, Vietnam, Indonesia � are going to burn more coal � it is the cheapest form of energy production in the world. Poorer and impoverished nations have no alternative,� he said. Rio Tinto have sold the Kestrel mine (80% interest) for $2.25bn. Hale Creek to Glencore for $1.7bn. With all the focus on Vanadium right now personally I don't think there are many investors attributing any value to Lemur in the share price at all. However it should really be a case of take another look, DYOR. The RNS today is huge, the potential value huge, the return to you the shareholder, potentially equally huge. Maybe it does need a spin off to achieve that potential. Of course I know that many investors here hate coal and our experience of the Afritin spin off was far from good. Personally given the above, I would prefer a sale.

The fundamentals haven't changed here. There is no good reason for this drop, the share is ridiculously undervalued based on known information. Fortune has the power to address this retrace, soon as you are ready Fortune.

Under 3 weeks left to convert these as well : 289,019 at 2.4p Use them or lose them.

"Delayed trades" is subject to widespread abuse. One (non BMN I should state) scenario is the price in a share inexplicably dropping off a cliff. Then a bunch of buys come in to support the price as it is now seen as undervalued, the price rises again. Then a massive "delayed" sell appears. People get spooked and start selling. The price drops significantly. Later the delayed sell gets cancelled. Net result is that the price collapsed for no reason whatsoever as there was never a sell in the first place, and the price is now much lower than it was. Everything in the stock market is open to abuse.

South Africa aims to finalise a third version of a hotly contested mining charter in June, mines minister Gwede Mantashe said on Tuesday, later than the government had predicted last month. The government and miners have been locked in difficult negotiations over the charter, which lays out requirements for black ownership levels and other targets, after the industry opposed revisions proposed by Mantashe's predecessor. Agreeing a new version of the charter is seen as instrumental to securing further investment in the mining sector, which new President Cyril Ramaphosa has made a priority. "We aim to finalise and gazette the mining charter in June, having taken on board inputs and concerns from stakeholders across the country," Mantashe said in a speech to parliament, a copy of which was distributed by the communications ministry. https://www.reuters.com/article/safrica-mining/south-africa-aims-to-finalise-mining-charter-in-june-minister-says-idUSL5N1SM4KC

BBN I think the twitter user you are referring to is a known shorter. They looks for any negative in a number of stocks no matter how small as they are also a keen follower of TW. If it is the person that has been theorised here in a new disguise then they were trying to say that 2p was fair value for BMN which was a joke then and a joke now. Anyone who thinks we should drop back 20% because of a couple of bucks (which equates to 2 or 3% of the FeV price!) obviously has an agenda and completely ignores the fact that we are not at a fair valuation for production/sales/costs anyway - we should already be some way north of 30p. Anyone following the advice of said shorter risks a major burning when the red dot appears.

Out of interest have we already ceased being an AIM junior mining stock given that we are producing have a 200m MCAP? If not by what measure do we cease being an AIM junior mining stock?

This does of course work both ways, so any temporary fall in FeV prices would then take six weeks to affect our sales price.

There should be a new dictionary definition of "imminent" for the mining sector, sometime in the next five years!

The current share price in no way values our producing asset correctly let alone any other irons in the fire. I share some frustration daitom, personally I think it is the continued avoidance of publishing black and white numbers showing our profitability that is preventing a lot more money piling in here. Those numbers will of course come out eventually. The annual report will start that process but will be disappointing to some as they will only show last year when both production and average V price were lower. The interims will be the real upcoming production dynamite, but to be honest all investors need to do is keep a close eye on this board as the known figures for Vanadium and production are regularly repeated so any doubt investors have should be somewhat negated by the incredible numbers being shown here. Of course there are many investors who won't take the word of other investors and wait for the raw numbers to be published by the company, following which there will no longer be any doubt. As for recent events I think everyone expected a lot more news to be announced following the recent II buy-in. The unexplained delay of publishing the BVL update appears to be because something that was expected to happen didn't in fact happen in time and no doubt some dip your toe investors are getting bored and going elsewhere. I see trading BMN as very high risk at the moment as an explosive RNS could land at any time. Each day I wake up and check for (pray for) an RNS. Although recently disappointed, each day there isn't one is a day closer to when there is one - and the best is yet to come.

Pom when would be good for you in terms of being in the UK?

OK that's at least 10 then, I will contact Dr Mike and enquire about dates/locations.

BBN another key comment made in the presentation which appears to have been overlooked was when Mikhail was talking about slide 24 which are the large scale projects in Dalian and Hubei. The comment made was "China government support and the VRFB only technology listed by the government in terms of energy storage deployment to strengthen the grid and to reduce curtailment of renewable energy." For me this is massive. Lithium won't get a look in as Vanadium is the only technology listed by the government. Should this continue then given the huge Vanadium requirement that these projects will require and the world class resource at Mokopane I really only see this going one way. The Chinese will be writing a very large cheque to BMN.

OK let's try a slightly different way in case there is reluctance to post with usernames. Please recommend this post if you would be interested in a Q&A meet up this summer somewhere in London with Dr Mike.

BBN, are you including a reduction for Evraz royalties? Personally I am hopeful that given increased revenues BVL pay the whole amount in year 1 to clean up the balance sheet. I assume with Sojitz however we may expect something similar, with a base price then x% annually for several years?

Anyone who wants the slides you can still get them from the download link here: https://edge.media-server.com/m6/p/i2wo6bk9%20

TotalTrader if the missing element of your spreadsheet is sales vs production then the slides today will tell you everything you need to know and cover four scenarios including no VRFB vanadium demand at all. At 25% VRFB demand and assuming that not all new production projects will materialise will mean continued structural deficit for the next decade. Look at pages 50-53.

Following on from my last comment on this, just a theory but it could be that as prices rose production demands reduced somewhat as existing stockpiles at customers were used in preference. I assume the quoted text is based on worldwide sales. Once stockpiles were reduced essential buying resumed. What is clear in 2018 is that there are no longer any stockpiles just minimum inventories and customers have to pay the required rate and either absorb or re-pass the cost to end customers, or go out of business. The recent small price reduction being evidence of this, now picking up again.