Member Info for UncleJohn

Faramog,You are right unfortunately!!! Would that it were 10 x greater!!!

Really pleased to see so many increases in shareholdings, which reflects the increases in nominee numbers. Faramog please also increase mine to 18333000. I would suspect most are relatively firm LTH which is great as it means the "pool" of available shares is decreasing by the day.

Today's RNS is not really a dilution overall as the purchase of the outstanding 25% is a sensible move that will make funding easier and it actually mathmatically increases the investment value by 33%. Funding the construction costs is the major issue and it would be better done by loan than further share dilution and I would hope that the purpose of the joint broker is to facilitate the funding, whilst preserving the shareholders interests.Personally I only have a small holding here at the moment as in particular I want to see how things progress over the next 6 months. I have sincere doubts that the mine will be operational by early 2021. Add on at least 18 months.

I think in fact we are very well protected against an unwanted T/O. If you add up the percentage of shares as shown on the BMN website at the end of May, I calculate over 46% are in the hands of PI's through nominee shares and in this I included the likes of Barclays Wealth,Equiniti, and AJ Bell in addition to the llikes of Hargreaves Lansdown,Halifax and II. PI's will win the day hands down unless we get a fantastic offer!

I think that it is great that we have this log, but it does need to be taken with a bit of a pinch of salt as I am absolutely sure that a number of the holdings on there will have been sold and we have no way of knowing which. It stands to reason over the last 12 months there will have been sales by people who have felt over exposed to BMN, or have simply needed the cash for other purposes. Likewise there are some very large holdings under "Other BMN Holdings", which may or may not be correct. Our only info is where there are changes to shareholdings in excess of 3%, that is approximately 33 million shares. i.e. most of the holdings we have no idea about.

Looked down the back of the sofa (metaphorically for those of a literal mind)to find more funds to top up 85k at this price, sub 27p

I can still buy as of 2 minutes ago 100,000 sub 27p, that proves there is a supply. If I had more funds I would definitely do so!!

The rise in the vanadium price is scaring them off

Patience yes undoubtedly. There is a general point that noone has mentioned which is that overall there has been a significant withdrawal of monies from AIM stocks for months (and I am not referring to Woodford which is a different issue), this itself will turn in due course. I hold a number of AIM stocks all of which I am perfectly happy with and have solid prospects, most already generating healthy growing profits. None of them are rising and their respective BBs in so far as there are contributors are all saying much the same sort of thing. Frustration All Round. Take a long Holiday!!!

Excellent post Pdub, I too have spent my life sorting the wheat from the chaff, and what one learns is that it is rarely the loudest or the most vocal who are the Experts. I have now held BMN for a year or so building my shareholding over the months and now through the contributions of the experts in BMN from different perspective including the Bushveld Perspective now have a fairly comprehensive knowledge. Many thanks to a great team of posters. Indeed it is remarkable that the technical knowledge on this BB easily surpasses any other that I read. The only downside has been when the BB has been when there has been an infestation of trolls (luckily they seem to have largely died for the moment). Good Luck and fortitude with your treatment

This BB is being wasted by the likes of NI, who clearly is a deramper. The best thing to do as expressed by others is to ignore the posts and even better just filter him. Saves you the bother of reading diatribe!

Sanchez, as far as I can see we are all agreed to a large degree, the downward trend has been due to a combination of things primarily led by the vanadium price, shorters, large pi's selling, some and impatient pi's. What we are all agreed on as far as I can see is that the fundamentals for the company are excellent and that when the change comes it will be swift. The first firm contract for BE will be a biggy as it will prove the doors are opening on the VRFB side.

spbhoy- quite clearly this is algorythmic shorting, the figures say it all, but as most have said, it cannot go on indefinitely, they do have to buy the shares back and a high percentage of the shares are held by lth's who understand the games being played however frustrating it may be. Frankly I don't entirely rule out the objective being an opportunistic takeover. Cartainly here the price here is being driven down not because the fundamentals of the company are bad, but for the very reason that they are good, and the ulterior objective is to get in cheaply/and or takeover. Either way I trust the PI sh show them the door!!!!

As usual a well researched article well done. I would commend the reading of it by others.

gkb47- They only lose if the cost of buying the shares is greater than the proceeds from the sale and if they have been sold at much higher prices all that they are losing is a percentage of their ill gotten gains.

Squirty Flower- I agree with all your thoughts for choosing bmn to short and in my mind this started some considerable time ago when the sp was much higher. 6m shares is peanuts to the organisation and there will be other shorters for sure, which when combined with some sellers and a falling vanadium price has made the first part of their job very easy. They are however playing on a difficult wicket now. As others have pointed out the liquidity of bmn is not great and trying o purchase 6m shares will not be easy, and I have no doubt at all that they were wrong footed by the Vanchem acquisition RNS. Buying 6m shares will take at least as long as they have been selling them. What we don't know and this is the 64k$ question is how many shares have been "borrowed" and when they are repayable. Any thoughts anyone?

All AIM co's drift on lack of news, that is pretty clear fact. Why? Mostly because AIM investors are by and large PI's and not institutions and many are in it for a quick buck with relatively small investments and a dribble of small investments coming to the market does adversely affect sentiment.
That is part of the story of the BMN sp of the last few months. Clearly there have also been some fairly persistent sales of larger holdings, which would still be a small proportion of the holdings of those who bought a couple of years ago. Not necessarily shorters, just investors realising small parts of their gain.
Thirdly the MM's have been playing games. Yesterday a day in point, where MM's will buy any amount, but it has zero effect on the price. I tend to agree with others that MM's have been desparately trying to rebalance their books in a concerted manner to keep the price down before we get the Q1 figures in the next week or two which will I am absolutely certain be much better than many people think. Currently uncertainty reigns and for those with more conviction now is probably the best opportunity to buy the shares for over a year.
As far as the limitless buying is concerned, all the figures dictate that the MM's haven't been over successful unless there are a lot of buys that haven't been recorded yet where it was genuinely a third party buyer trying to build stake prior to some form of t/o bid. I don't subscribe to that at the moment, but it would be very opportunistic.

I can sell 400k, but can't buy 200k. The MM are short of stock and are trying to fill a big order/close out a short

Raz- I think it would just sit there unless there was a seller of at least a million shares who was prepared to accept 27p or less. i.e. mm's don't have to start filling the order, because that could be prejudicial to them

As probably the only PI who has not commented yet on recent events, I think it's my turn to try and raise the game and get away from the incessant drivel and tetchiness.
1.Nothing has changed so far as BMN are concerned, it is business as usual.
2.Some of the fall is undoubtedly due to the fall in the vanadium price totally at odds with the predicted shortfall only a matter of months ago. I believe the fall is now way overdone and in generality the shortfall position is correct but latterly there has been a surplus of vanadium in the market place.
3. The share price fall reflecting the Vanadium price fall has been exacerbated by a number of shorters
4. The share price fall consequentially has also been exacerbated by the triggering of stop losses.
5. The MM have had a field day and personally I suspect are also part of the shorting brigade
6. Clearly there have been some large sellers as is evidenced by the trades.
Where next? The $64k question.
Since there is nothing wrong with the business what goes down will go up and could go up sharpish, but in all likelihood we need to see a recovery in the vanadium price. Whilst the current V price is good for VRFB, this will only be of benefit in the longer term when BE has significant orders for VRFB's which won't be until 2020. Therefore we need to see a significant rise in the V price without it escalating so far as to kill off the VRFB market. I can't tell you where that is, but it is the key question. Am I selling, no way.