Snott - the guys who drive the diggers are in their cabs, they are employees of BMN. The guys who drive the dumpers sit in their cabs and are subcontractors. Anyone who has ever worked in an opencast mine will probably confirm that you don't have people wandering around the mine site chatting about what was on telly last night.
The processing side of things is, like all chemical processing plants, made up of big machines that run pretty much all the time, except for when something breaks and then needs to be fixed. Where more people are employed is in quality control and testing, plus a number driving forklifts of finished product around. For these people the place they will catch anything is most likely from their home communities.
If it was up to me I would get them all housed on-site and away from potential infection, have their temps monitored each day and then isolated further, on-site, until any infection clears. However I'm not in control and Fortune is clearly on top of the situation there so whatever he decides is for the best.
Indeed there's nothing to say that you need to have the mine running to be able to load stuff from the stockpile into a shipping container for export.
Are there some people out there so dim as to think that when the mine stops the sales stop. Have these people ever visited an industrial or chemical processing plant. This is not just-in-time manufacturing there's stockpile capacity built in throughout the production line - there has to be or the whole thing won't work.
Whilst high Vanadium-for-steel prices are still good for Bushveld there is now effectively a different Vanadium-for-Invinity-VRFBs price. The idea that there is only a single price for commodity Vanadium disappears when you have long-term (and private I might add) supply agreements that give VRFB companies such as Invinity the stability to develop the large scale VRFB industry.
It is not even out of the question to consider that slightly higher Vanadium-for-Steel prices actually help to subsidise the development of the VRFB industry.
Lithium-ion, viewed as a technology, might appear to do a similar thing :- lure eV buyers in with the promise of cameras all over the vehicle and a slick iPad-style interface and then use those revenues to build the hugely expensive battery factories.
VRFB on the other hand can build a megascale battery faction with a tiny tiny fraction of the billions needed to build one of Mr Musk's fancy gigafactories.
Mara1 - there was a time of course before BMN and IES cut a long term Vanadium supply arrangement that there was the idea abroad that what was good for BMN (high V prices) was bad for IES/RedT.
Isn't it great that we are now singing from the same hymn sheet
Isn't it remarkable that no other battery chemistry offers the technical possibility of the electrolyte retaining its full asset value after 20 years or such a large reduction in Capex via a simple leasing arrangement.
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Mara1 - indeed that sell was the selling down of 62,229,986 (pre-consolidation) shares owned by Payar Investments Ltd
(subsidiary of Khazanah Nasional Berhad). After consolidation this yielded 1,244,599 shares which was sold to MM1 at 10:47:00 on friday. Four and half minutes later the precise same number of shares appeared in a second trade at exactly the same price which we can assume will be an inter-Market-Maker transfer.
For those that were not aware Khazanah Nasional Berhad is the sovereign wealth fund of the Government of Malaysia. One can assume that they may have decided during the long period of suspension that they no longer wished to maintain their holding, and were simply waiting until the deals all got worked out and the new company launched to cash out. Why they have chosen to sell I do not know but it may be connected with why they bought in the first place - perhaps they thought that they could use the investment as a strategic one so as to try and establish some manufacturing production in their country. This opportunity may now have evaporated with the arrival of the new CEO.
in the Battery Metals Class
great summary ninjamagic - I was reading an article today about how is was vitally important that swiss gold refiners return to work as there were "fears that it would be impossible to turn enough 400-ounce bars stored in London into 100-ounce bars used in New York drove" (https://www.mining.com/web/swiss-gold-refiners-to-resume-work-easing-supply-constraints/ )
Well I can see that some people might be upset if the gold bars that do nothing but sit on a shelf with not be quite the right weight, but to be honest I think we could probably conceive of a world in which they gave themselves a good slap round the face and said to themselves 'you know it really doesn't fekkin matter'.
Vanadium on the other hand does something quite a lot more useful than sit on a shelf. It makes the steel that contains all those gold bars, and all the other buildings too, so has quite a bit more to offer the 99.9% of mankind who isn't somehow obsessed about the size of their gold bars.
exactly right knuttie - it is better to have 10% of something than 100% of nothing. It is cliche because it is true.
Furthermore we don't just have 8.7% of Invinity we also have all the revenue from sales of Vanadium to the Joint Venture leasing vehicle that BMN announced with Redt on March the 9th. A financing party will no doubt provide the cash for the initial Vanadium purchase and processing into electrolyte and it will be paid out of long term leasing payment made by the battery user/owner. Via this arrangement BMN gets its cash essentially all on day one.
Brad29 - the 2018 Price spike in Vanadium started in mid 2017 immediately the improved chinese rebar regulations were announced. About 2 months after the price started chinese initially tried to stop the price spike by releasing 10,000 tonnes of their strategic Vanadium reserve but this only held things back for a couple of months and then the price increases continued into and all through 2018.
The Rongke power 800MWh Dalian battery would require some 4,000 tonnes of Vanadium (c. 7,150 tonnes V2O5).
As you can see from this article :- https://www.thebushveldperspective.com/blog/public-articles-1/post/vanitec-4th-energy-storage-meeting-part-1-274 the demand for chinese rebar would be something like 5 times the size of this.