Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
FWIW, I am 100% in agreement with you BBN. Indeed it is not a very difficult conclusion to reach not that I in any way denigrate your work. Keep it rolling. Unfortunately many BMN investors have been caught with losses and have not had the patience to let all the issues unwind. Therefore, proof of the pudding hard numbers will be needed by many and indeed the Q2 results themselves may not be sufficient. As always with investing if you wait until all the ducks are genuinely in a row you will have missed the boat.
LB21 Look at the RNS dated 4th Feb 2021, dealing with resource update. Iron ore has never been split out as such because Bushveld is a vanadium company, but the vanadium is extracted from the iron ore currently at Brits but there is also Mokopane a vast resource that hasn't even been touched yet. Pro Rata the value of vanadium far exceeds Iron ore but the point that was being made a little while back was that even allowing for all the costs of extraction the iron ore alone far exceeds the market capitalisation of BMN. Obviously this was less true when iron ore prices were much lower. Hope this helps you
Frankly all people can do is speculate, this doesn't actually get anyone anywhere. all we know is that BMN is massively undervalued, BUT until there is a massive change in sentiment so that buys consistently significantly outnumber sells nothing much will change. Will it ever change I hear you say. Yes, most definitely and fast. When ? Only once the financial results demonstrate the profitability and/or there is a very significant Escom announcement involving BMN. I will sit tight. Indeed the longer it stays at this price the greater the chance I have of further increasing my holding as other funds become available.
Jl has his opinion I have mine, both are legitimate. Investment is about years, not today or tomorrow. Lets see how things are in 12 months time. Protesters have always existed for every change in life. Ultimately common sense will prevail. Lets just drop this somewhat useless thread of emails and move on to something else.
UKsteve, I acknowledge there are the Orion CLN's, which Orion will want to convert at some stage, obviously your guess is as good as mine but Orion are very savvy and in my view will want to see a decent profit. One way for them to "have their cake and eat it" is to convert over a period of time so as to maximise their profit whilst at the same time providing cash for further loan projects. They certainly will not convert for some while as it would negate the profit element. Orion plainly did extensive DD on BMN like many LTH's and know what is in the pipeline. Hope this helps.
One thing is absolutely for sure and that is once the sp starts going up properly it will go up far, far quicker than it has drifted down, merely because it is in such an underrated situation. So the sell now, buy back later brigade at this point have a very good chance of having to buy back more expensively or elect to miss the boat altogether.
It reduces Acacia's holding from circa 60m shares to circa 45m shares, so the market has had to absorb 15m shares over the last 6 weeks which explains some of the general downward movement as the MM try to shift them.
As you can see, BE has not actually commenced the electrolite plant construction yet, it is in the procurement stage and they are only intending to sign the lease for the siting of the plant this quarter. It is good that it is progressing but commissioning in H2 2022 is some way off and inevitably that is before slippage on a project in construction terms that hasn't even begun. Overall I am happy with the RNS as going forward production will increase significantly, the vanadium price will go up and the mere fact that there is no mention of Lemur means that they are trying to divest BMN of it.
BTB, you are somewhat cynical of the RNS, and with some justification in that similar projects appear to have gone nowhere, it is always pie in the sky. However one day it might just work!!! Added to which, and this is important there are upside revenue implications. Even though these may not be mega they are much better than a kick up the backside. So all in all a good RNS and I am not cynical. As for my Nano shares I am just sitting on them until D day whenever that is but I agree with your point about Samsung doing everything in their power to whittle down the sum and to prevent it becoming payable. I am confident Nano will win.
Given the state of the markets generally today, the reduction in sp is nothing and the volume is incredibly low. Nothing to worry about. Indeed it is a plus sign as far as I am concerned that in the main the SH know that they are sitting on gold (sic), maybe nickel would be more apt!!
Fizzydrink, clearly you have made a loss having bought when the vanadium price and shareprice were much higher. That is not the BoD's fault it is your greed in hoping that the sp would rise higher with a further spike in the vanadium price, your bad judgement. obviously I am sorry for those that are in a loss situation. If you have lost faith in the co and the BoD the answer's simple sell and try your luck elsewhere.
I too am underwater here and will be for a little while. The difference between us is that I can see how the BoD have strengthened the company immeasurably over the last 18 months, even though currently this isn't shown in the sp. I remain a holder and still firmly believe that this will all come good. Obviously you are entitled to your opinion but it really ought to be backed up by facts, rather than a swipe at the BoD.
UKSteve, I too am much more interested in the way forward as opposed to the history which we know (and I doubt there is anything lurking). Indeed the 35 day maintenance shut down was known to be coming and is all part of the gearing up for the enhanced production levels. I don't think the loss from this will be nearly as bad as some might think as they will have been able to sell from existing stockpiles. Quarter 2 should be a major advance.
jam2morrow-you aren't alone, it is the second time recently I have topped up with a raise of funds later the same day. On the plus side my ATM holdings are well in credit and £10m will definitely help speed growth in production/profitability and enhances capital base, so overall a good time to do the raise, and more jam tomorrow.
The general nature of posts shows that many are frustrated by the lack of speed of development. I have no doubt that Fortune himself is frustrated that things on the Be side can't get into gear quicker. Factually I agree with BBN's opinion that BMN is actually in the strongest position it has ever been, and ultimately as I have said before the fundamentals will be recognised.
On the comms side it is fair to say that AIM shares and in particular oilies and miners thrive on RNS's. BMN has latterly been deficient in this regard. Save for the short lived strike issues, there have only been 2 RNS's of substance since the final results in February, both relating to Enerox as opposed to the BMN business. AIM shareholders need reassurance that all is going o.k., even if there is a degree of repetition. It is not legally necessary BUT regular RNS's do make a difference.
Fortune please note.
Thanks for the summary Westie, as far as downside is concerned, whilst I have no doubt finance can be raised the big Q is at what cost to LTH's. i.e. the extent of the dilution of our investment. One good factor in this project is that compared with many projects the timescales are relatively succinct and EML is in a favourable jurisdiction.
Sanchez, I agree with you. Indeed nearly all the readers/contributors to this BB know that the mega increase will happen it is purely a question of "when". In all things, perception tends to lag reality, and thus LTH in the know are far in advance of the general market both PI's and II's. In BMN's case this has been truly exacerbated by 2018, where the spike in the Vprice and the SP led to a lot of losers inevitably. This has been further exacerbated by the Vprice through 2020 and, although I'm not actually sure by how much, the negativity and perceived infighting on this BB. At some points it has seemed like a war between the rampers and the derampers each having their own agenda plus some very knowledgeable posters who have been shot at by the derampers. All this needs to get through "the system". My gut view is that we are at the very tail end of this as there has been noticeably less controversy over the last few weeks and much more by way of constructive dialogue, posting and learning. Long may it last. As Alfa and others have said on many occasions the fundamentals of BMN will win in the end. I am a fundamentalist.
Floyd 81. Thanks for the link to the Terry Perles interview. Whilst he hasn't historically always been right with regard to the price direction of Vanadium, this is a very good interview , based on the overall development and where we are actually at for vanadium in the fairly immediate future and I would commend any of the contributors to this BB to listen to it.