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I'm predicting it's going to be a good week next week, a long silence from Bmn usually brings a corker piece of news out.
Tuesday 7am ?
FeV up 2.7%
Excellent description between both any sensible buyers would surely go with vanadium with so much more positives
A must watch VRFB video - https://twitter.com/VanitecVanadium/status/1152204661732118528
Pat48 - I would say not - they look like well behaved rollovers
Most likely they are rollovers of some sort.
9 Jul 19 – Currently, mainstream transaction prices for Chinese vanadium pentoxide powder 98%min stay at RMB122,000-126,000/t (USD8.2-8.5/lb V) EXW D/P, up by RMB2,000/t (USD0.1/lb V) from last week. Traders, harboring a strong sentiment of pushing prices higher, are active in sending enquiries; but as purchasing prices offered by downstream steel mills for vanadium products have not risen yet, insiders believe that it would be difficult for the current upward movement in vanadium raw material prices to go on, and prices for Chinese vanadium pentoxide powder would tend to stabilize in the coming week.
A consumer in North China purchased 10t of vanadium pentoxide powder 98%min at RMB126,000/t (USD8.5/lb V) delivered D/A 180 days this Wednesday, equivalent to RMB123,000/t (USD8.3/lb V) delivered D/P, up by RMB3,000/t (USD0.2/lb V) from last week. He said, “Now suppliers keep raising their quotations.When we made purchases directly from producers, we always encounter traders who compete against us with higher prices. Last week the quotation we received was only RMB123,000/t (USD8.3/lb V) delivered D/A 180 days. We just hesitated form some time, and when we set out to purchase now, we have to pay RMB30,000 (USD4,365) more for the deal.” As July is the off season in steel mills’ purchasing vanadium products and their bidding prices can’t go up, the source believes that prices for Chinese vanadium pentoxide powder would stabilize in the coming week.
With an annual consumption capacity of 400t of vanadium pentoxide powder, the source expects to consume 30t in July, unchanged MOM, and holds 15t of stocks now.
A trader in North China reveals that most quotations they receive now for vanadium pentoxide powder 98%min are around RMB125,000/t (USD8.4/lb V) EXW D/P, up by RMB2,000/t (USD0.1/lb V) from last week.He said, “Now spot supply of the material is tight. We purchased 30t of vanadium pentoxide powder 98%min at RMB123,000/t (USD8.3/lb V) late last week, and are in no hurry to make sa.es now.” He added, “We received an enquiry from a client who intended to buy all the material at RMB125,000/t (USD8.4/lb V). We required the client to make a 100% down payment, while they insisted in making the payment one week after they have received the material. Finally the deal was not concluded.” Owing to tight market supply, the source believes that prices for Chinese vanadium pentoxide powder would stay firm in the coming week.
Typically trading 30tpm of vanadium pentoxide powder, the source expects to sell 30t in July, unchanged MOM, and holds 60t of stocks now.
Pension monies just come through for my SiPP so just managed to do complete the first of a series of top ups. Approx 24k @ 23.9 (not live price of course). All adding to the pot.
Daisan, exactly that's why I ask again. Lemur could be a Very attractive proposition with the Power plant. I'm very intrigued to how that arm of the business will come to fruition!
Thanks for your assessment Alfa, it appears that my positivity was getting a little ahead of the present reality, but it's still good to see steps are being taken to improve the VRFB package from where it currently stands. I look forward to seeing more improvements coming through in due course.
Is there a competition between the 100,000 sellers and 100,000 buyers and if so any idea who is winning. Are the MM’s having to counter the buyer to keep sp in this range?
Tyfoon - I don't think it really changes that much - their approach to using precipitation inhibitors to increase the concentration of dissolved Vanadium only really works on one side of the battery - so you could not immediately apply the technique to increase the energy density of an all Vanadium flow battery. And indeed why would you bother as the energy density of the Vanadium flow battery is not really the issue for stationary applications - if anything the amount of Vanadium used in the battery, which directly contributes to the cost, is the issue there. In practise there are internal resistances in the power stacks that limit the range of state of charge that you can practically use full power to (eg you might only get to use the full power in the range 20-80%, if you are prepared to knock back the power then you can charge 0-100% energy capacity. Some of the most interesting developments that I saw in Lyon were to do with improved flow profiling and electrolyte contact resistance which I expect will soon be contributing to getting greater effective use of the Vanadium electrolyte in an all VRFB flow battery, and it is developments like these that I believe Mikhail was referring to when describing how the kgV per GWh figure may come down from the current approximate value of 5000T/GWh in the next few years.
This is probably one for Alfa or someone with similar knowledge of physics/chemistry but the inventor of the VRFB, Maria Skyllas-Kazacos, has continued her studies into V batteries and has come up with a way to significantly increase energy density up to 80% more than is currently possible. That must surely increase the range of applications suitable for V batteries eg domestic and, who knows, perhaps even the Holy Grail, EV.
As a consequence, this improvement has the potential to materially increase global demand for vanadium.
Vanadium Oxygen Fuel Cell Utilising High Concentration Electrolyte
A vanadium oxygen fuel cell is a modified form of a conventional vanadium redox flow battery (VRFB) where the positive electrolyte (VO2+/VO2+ couple) is replaced by the oxygen reduction (ORR) process. This potentially allows for a significant improvement in energy density and has the added benefit of overcoming the solubility limits of V (V) at elevated temperatures, while also allowing the vanadium negative electrolyte concentration to increase above 3 M. In this paper, a vanadium oxygen fuel cell with vanadium electrolytes with a concentration of up to 3.6 M is reported with preliminary results presented for different electrodes over a range of current densities. Using precipitation inhibitors, the concentration of vanadium can be increased considerably above the commonly used 2 M limit, leading to improved energy density.
Well said Pdub. Patience has always been key and those with suitable amounts of it will be well rewarded. All good things come to he who waits. (Or she)
I don't agree that that H1 2019 was not exciting! Sure the sp has been disappointing in this period, but those with a genuine long term perspective surely cannot fail to be excited by the H1 announcements:
Production at Vametco up in March (270 mtV)
Final Results confirming no debt and £42 million in cash
Brits drilling results
New General Manager at Vametco
Vanchem acquisition announced
Vametco mineral resource and ore reserve update
Electrolyte rental model announced
Brits Vanadium Maiden Mineral Resource
Each of these is another step along the path, laying the foundations for what is to come. I believe we will see the fruits of these developments and others not mentioned in the coming 6 to 18 months. Patience is the key.
LTHs have been here before. Quiet periods for the share price, followed by significant and sustained sp rises. In my opinion only a matter of time before the sp responds to the unfolding news stories from BMN.
Just my opinion.
Those that have don't like change...those that haven't are the once that want it...
Changing the mindset of developed countries will continue to be a hard sell for the time being...however, Africa is somewhat different and has a huge marketplace crying out for electricity and they want it now but the economics and distances thus far and still remain an obstacle for many but with the new small scale micro/mini grid technology, economies of scale in developed countries driving down prices and increasing product development, things are now changing and could change rapidly with the right financial support and funding...
Here's further insight into BE’s target marketplace – Africa.
‘There are also many other suitable applications for VRFBs within the transmission and distribution network, mini and smart grids, as well as behind-the-meter applications.’
‘By August 2017, the study concluded that favourable demand for VRFBs, particularly in the utility (including transmission and distribution networks) and off-grid, as well as mini-grid markets, exist.’
'Bushveld Energy's Vanadium Redox Flow battery (VRFB) solutions can help communities not connected to an electricity grid in two major ways.
At present, only one in three people in sub-Saharan Africa has access to electricity and the rate in rural areas is much lower. Those lucky enough to buy electricity in off-grid locations, often spend up to $1/kWh. VRFBs can bring quick, lower cost electricity to these communities, while
Providing a 24 hour, 100% renewable energy solution at prices well below diesel or heavy fuel oil (HFO) generation;
Delivering a simple “plug and play” solution in a matter of months.
Adding further benefits, such as
Cutting CO2 emissions by up to 100% (versus thermal generation);
Reducing the risk of theft (of fuel or batteries);
Eliminating the noise created by generator engines.
and UET has this little vanadium cutie…how difficult would it be, in the not too distant future, to set up a solar panel and battery assembly plant model on a franchise basis together with Leased Electrolyte for the mini-grid and off-grid market ready to be rolled out throughout Africa…now wouldn’t that be the icing on the cake?
I think anyone in their right mind would have thought the same daisy. Puts emphasis on just how cheap these are, doesn't it.
Just bought a new tele myself - scarily thin though! Opted for interest free payments so if this does drop lower I can top up a couple of K. But also thinking I may look to invest this money in other aim shares so I can keep a round figure - but you can certainly separate the wheat from the chaff on twitter as it's interesting to see what people are hyping. Experience has taught me not to get drawn in and look for myself though ;)
If you check the data on Euroclear, it shows monthly shorted shares that are less than 0.5%. BMN had 0.62% in May, and 0.91% in June. So it did increase. It only releases data a month in arrears, so isnt posting July's info yet.
It's not just any round number sells that are considered shorts dryland. Usually they are 50k and 300k, in a sequence of at least 3 within 3 minutes, that are at or near a round number and are designed to take out the quoted amount of shares by the MMs. These aren't the only trading patterns that have become apparent, but it's one of them. What you might find they are doing is recycling a portion of their short position. So keeping 90% in, but playing with buying and selling the remaining 10% in order play with the SP. So what looks like a constant increase in its position, actually isn't.
Hope it's an exciting H2, because H1 definitely wasn't. If anyone had told me in November that the SP would be half of what it was then 8 months later I would have laughed and said they didn't know what they were talking about.
I confess that this is outside of the sort of company proposition that I tend to follow. However, from my, admittedly limited, research on the subject, I believe that this kind of operation is much more valuable than a coal mine on its own. It does, of course, also carry a higher development cost but I would expect that to be provided by a third party entity either through a JV or outright sale at some point.
I’ve never known it quieter on here.
The calm before the storm.....
So much news to come over the coming weeks/months!
Q2 Vametco results, due this month/early August, will be excellent due to the increasing production expected.
Q2 update for Bushveld Energy showing further progress made in the quarter. Eskom VRFB testing news. Contracts?
Q2 Lemur update.
Other news in no particular order...
Vanadium price starting to increase again due to the large structural supply deficit.
News of phase 3 increases in Vametco production capacity to over 5,000 tonnes pa.
Vametco mini grid news.
Vanchem acquisition news increasing our production capacity further.
Vanchem upgrade program.
Mokopane mining licence.
Mokopane news of early revenue generation.
Details any projects BE are currently working on.
Bushveld Energy contracts (from the hundreds of enquires received).
Eskom VRFB testing news.
Electrolyte production facility progress.
UET final partnership details.
Leasing partner news.
Additional contracts through Avalon Energy.
BE partnerships and critical supply agreements.
Opening of BE production facility.
Imaloto coal BFS.
Imaloto coal platform sale/spin off news.
Afritin first production commencing.
Developing the organisational capacity to align with the Company’s growth.
Continuing simplification of the Bushveld organisational structure for efficient management.
Possible suitors looking to take over/partner with ‘the most significant, lowest cost, vertically integrated vanadium company in the world’??
All looking good.
It should be an exciting H2.
DYOR of course :)
The request for proposals for the first phase of 800 MWh is expected to be released to the market by mid-2019, with construction, testing and commissioning anticipated before the end of 2019, while the second phase is anticipated in 2020.
Has this first phase been delayed?? Or are they still looking at getting these batteries commissioned before 2020?if so they want to be getting a shift on.
It is true that the Vanchem acquisition RNS states that:
"Upon receipt of the mining right, Mokopane will be a primary source of feedstock to the Vanchem Business "
and firmly links the development of Mokopane and the Vanchem acquisition. However, the RNS also states:
"The Company retains the optionality to supply magnetite concentrates from Vametco to the Vanchem Business."
which, to me, implies that the opportunity exists to supply Vanchem from Vametco should the time frame for Mokopane development not be consistent with the needs of Vanchem development.
I've posted this question before but not much response. Has anyone being involved with an outright sale of a coal mine AND power plant that has both BFS completed and financing in place. That is where Lemur is going to be very soon.
Last Q1 update:
Lemur has signed a Project Preparation Finance (“PPF”) facility agreement with the Development Bank of Southern Africa (“DBSA”) for an amount of US$1 million.
The facility will assist in funding the completion of the project development activities and advisory services for the Imaloto Project, thereby enabling Lemur to reach financial close1.
Review and sign-off of the power bankable feasibility study (“BFS”) has been completed by Sinohydro.
Review of opencast mine BFS completed. Optimisation exercise underway to consider the inclusion of underground mining within the development plan.
Engineering, Procurement and Construction (“EPC”) contract negotiations for the power plant are progressing.Social and Environmental Impact Assessment (“SEIA”) fieldwork ongoing and on track to be completed in Q2 CY2019.
Negotiations with potential lenders are progressing.
Almost 4 years work has gone into Lemur post acquisition. This is a big development that would demand a hefty price tag for an outright sale?
Or will BMN go to production with a smaller stake? Never say never. Personally I'd rather these two options than float.