Member Info for tekanalyst

If the vote does go through then it will be curtains for Bushveld as the Board of Directors have made sure that SPR get to walk away with the best asset whilst BMN is left with the Orion debt. It will only be a matter of months before Vametco goes the same way as Vanchem. UK shareholders have been stitched up by the Board.

Something remarkable yesterday - https://twitter.com/Paludina/status/1793572801129148706

Why is there no discussion of this here ?

He thinks that he can flog some of his shares back to PI's at slightly higher than it is now, should the deal get passed. He cannot but suspect that SPR will never pay back the £40M loan that Vametco made to Vanchem to refurbish it and thus BMN will be left with a fraction of its operating assets and all the Orion debt, giving it no long term chance of survival. He's just after a quick out.

It is in black an white in the company's articles of incorporation:-

"No member shall be entitled to vote at any general meeting, either personally or by proxy, or to exercise any privilege as a member, unless all calls or other sums presently payable by him in respect of shares have been paid."

SPR have not paid for the shares that they should have under the Nov 2023 final agreement, loaning us the money does not qualify. Hence SPR are not entitled to vote.

Harchris, the shareprice erosion happened years before. It happens continuously on AIM if you had not noticed. This is because the market makers can play private investors for fools and simply sell shares short. For the record when BMN listed over a decade ago it had nothing, zilch, nada, and was a putative iron ore company. It was Fortune that turned it into a Vanadium business, connected up the dots with the Flowbattery people and got us to the position of owning 50% of the world's Vanadium plants outside of China.

Now you're happy for SPR to walk away with a good chunk of this at around 20% of the rebuild value, with no more cash to keep the business operating.

I have to say that what PMC says is absolutely correct, regardless of whether you like how he is saying it. SPR is not the only way out, though the board are confidently predicting that it is. This is the same board that has presided over 95% shareholder value destruction, 80% of which has come since Fortune was forced out of the business - and yet they have the brazen temerity to warn shareholders that they may 'lose a substantial part or all of their investment' if we do not jump to their tune right now. Too late, they've already lost a large part of the investment of many of the shareholders here. I see now reason to allow SPR to pick up for pennies the company that we have built with our investments.

What seems to have been missed by those that think that there is no option but to accept this shoddy deal is that it does not add any upfront cash to the original 50% deal. Thus it does nothing to shore up the company, but gives away another 50% of Vanchem on the hope that SPR will pay out, when it has not even done so properly over the last 6 months.

Trevor - mothballing is not an unusual situation in Mining - eg see here https://www.cliffordchance.com/content/dam/cliffordchance/briefings/2013/06/mothballing-mines-preempting-the-issues.pdf

Amongst the questions that Portillion has put to the board is "What other options have been considered by the board?"

It is not unreasonable to ask the board whether they have considered mothballing either or both of Vanchem and Vametco until such time as Vanadium prices recover. Obviously Orion would need to be required to play along with this, but someone puts a stop to the headlong running of Vanchem into SPR's arms, with essentially no additional upfront cash from them.

Except it owns manufacturing plant worth more than $200M to replace, so bring on the administrators, get this stuff sold off to the highest bidder, not just the first guy who managed to get their foot through the door, pay back orion and other debts, and then return the rest to existing shereholders - it's going to be more than the £13M quid that co is supposedly valued at at present

Marc - what's the point of having no dilution if the company has given away it's most valuable asset for a fraction of the price it is worth ?

Https://twitter.com/BMNperspective/status/1787726540827951391

God you do talk a lot of nonsense Coffeecups - fly ash from wells flaring ?

For the record they are burning off the light gases to relieve potential pressure rises. There is no ash produced. The Vanadium that is found in oil fly-ash is contained in the Heavy Oil fraction - which is precisely why it is known as 'HOFA'. Guess what they do actually have power stations out there to run their cities and desalinate their water.

When are people going to stop listening to the rubbish this clown generates ?

Congratulations Coffeecups UET went bankrupt over a year ago. Do TRY and keep up.

Knutsford it is hardly suprising that lithium battery manufacturer claims to have never heard of flow batteries

Broomtree, maybe you should learn to not believe everything you read. There were 22 trades on the 19th October 2023 and the lowest price was 1.45p - jeez you only have to look at the price graph to realise this wasn't the lowest price day of trading this year.

Bid has now risen to over 2.3

10 day MA clearing crossing the 50-day one. I know not everyone swears by Technical Analysis, but some do and that's what tips the balance every now and then.

I suspect that he'd want to know how is it possible that Ferro-Alloy Resources, a company which produces less than 1/20th of the Vanadium that Bushveld does, and which lost $4.3M last year, and with none of the BELCO, minigrid, or Vanadium Flow Battery producer assets (Cellcube) that BMN has, is somehow worth almost twice as much as BMN is currently 'valued' by the market as having.

The answer is simply that nobody has ever heard of FAR, although it is inexplicably listed on the main London market, and has half a dozen trades per day, whilst on the other hand thousands of AIM investors have heard of BMN and have therefore been ripe for social media and share-price gaslighting for the last 5 years.

It is called Kitchen Sinking - Craig is getting all the bad news out of the way now and then will be able to focus on future plans to improve production and return value on BELCO, the minigrid and the Cellcube holding (approximately 1/4 of Cellcube held - this could be worth 5-10p on the Share price).

At the current price Bushveld is an absolute steal. Anyone who considers that Climate Change is real, and has any awareness of what the Chinese are doing with their Vanadium Flow Battery industry can see that these batteries are going to be a major thing in future. Now is your chance to get a foothold in that.

Orange Trust have not sold it is due to dilution that they've crossed below the 5% threshold