Member Info for SMT1

Is the V price around $35 in China or is it way higher than this, as it is getting confusing with the websites ?

All sold a couple of months ago.

Totally agree GLR. There seems to be sudden spells of buying (probably Myles McNulty or BBN tweets) followed by a few large sells. Surely the SP will explode soon.

It is probably the IPO placement sellers. Once they start clearing, the share price should increase rapidly.

So when the tin price rockets to new highs, the share price falls; and when the tin price has a bad day, the share price also falls !

Thanks for the broker notes.

I would be grateful if someone could post the most recent broker note - thanks in advance

With all the large buys today, surprised the share price has not improved.

BMN just sold their remaining shares in ATM for £2m.

Here is a new game for everyone called "Spot the undervalued share". I have listed below some market capitalisations below. To make it more difficult, I have put them in alphabetical order:

ATM - £62m
BMN - £155m
FAR - £114m
IES - £102m

Good luck !

RVO - I have not seen the current broker reports, & am basing my analysis on the previous SP Angel report. It will really depend on the V price the brokers are using.

Like may on this board, I was extremely disappointed by the RNS yesterday. I don't understand why they cannot assume there will be issues with production & lower the targets, as it affects sentiment. I also cannot believe that the main achievement was the improved safety record. This should have been at the bottom of the list. There was also not enough detail on why costs have increased.

Having said all that, I still believe that BMN will make a net profit in excess of $100m in 2022, & that the V price will continue to increase.

Also on the positive side, I may now be able to transfer the remaining 100,000 shares to my ISA in one go in April ! Something I would never have believed possible.

Will be pleased to get tomorrow out of the way. I would expect SP Angel to revise their targets upwards based on the current V price.

An average V price of $46.5 should lead to a net profit in excess of $100m in 2022. Good times ahead.

Based on the SP Angel forecasts, I have calculated that BMN need an average V price of $46.5 to reach a profit of $100m in 2022. Share price re-rate must start soon (hopefully)

Diamondlover, I don't want Fortune to change his strategy. From 2022, we could have company making a net profit in excess of $100m per annum. The share price will correct itself.

Pickler, I would not worry too much about this. If the V price continues to rise, then this should attract more buyers, which means the market makers can offload a higher volume of Duferco shares. So, they should finish selling more quickly.

There are other costs (not production costs), which need to be taken into consideration when calculating net profit. If you study the SP Angel figures that have been posted, then you can do some estimates.

Larky, very roughly but some guidance, if you assume $35 is break even, every $1 increase in V price is $4m profit. This is based on SP Angel forecasts & V price needs to be annualised.

I would also expect a reasonable profit in 2021, assuming average sales price remains over $40/kg in H2.