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that is what I would guess

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.

exactly so DBB

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.

you said it DD

Blue sheets are requests for information sent out by the Securities and Exchange Commission (SEC) to market makers, brokers, and/or clearing houses. Blue sheets ask for information related to specific securities or transactions—especially those that may have affected the price of the security. Blue sheets are often requested in order to determine if there has been any illegal activity or to determine why a certain security experiences a large level of volatility. Like most things in the trading world, blue sheets have now become electronic.

KEY TAKEAWAYS
Blue sheets are requests for information sent out by the Securities and Exchange Commission to market makers, brokers, and/or clearing houses about trades.
Recipients must provide information about the security along with the date, price, and size of transaction, and the names of all parties involved.
Institutions may be fined if they update or don't provide accurate information.
This information is meant to improve transparency of banking and trading activities.
Blue sheets are now requested and filed electronically.

https://www.investopedia.com/terms/b/bluesheets.asp

Evidently - everything I can discuss can be discussed here.

Evidently, have you read the Invinity admission document ?

useful historical intel bluerill. I think we've thoroughly worked through and drawn a line under this particular subject now.

even a hundred quids worth.

Can someone remind me what 'Market Makers' are supposed to do.

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

https://www.miningreview.com/energy/winner-excellence-in-battery-metals-bushveld-minerals/

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.

A note to this:- Glencore total 20.2 million pounds of V2O5 equates to 5,141 Tonnes of contained Vanadium.

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.

Congratulations pickler you have won. Not the Bushveld wordcount challenge but rather the more secure understanding of Bushveld's role in this particular merger, and the VRFB flow battery market in general. That will allow you to sleep very soundly at night and may even lead you to significant financial gain by purchasing more shares whilst the share price is unrealistically low.

What did Charlie Munger say in that video mentioned earlier today ?

"it was cheap in relation to what was plainly going to happen - that was a valuable insight"

Yachty - it depends what the duration of the battery components is. You cannot simply compare the powers.

For example you could split a 1MW/ 1MWh battery in half and say that you have 2x 1MW/ 0.5MWh batteries - same cost but the apparent power of the second configuration is double that of the first. Instead you need to add up all the energy capacities not the individual powers - in both situations you end up with the same cost per MWh.

If the Lithium-ion batteries are only 1 hr duration and the VRFB is 4 hr then the comparison is not quite so one-sided. What you actually need in any particular situation depends on what you are doing. Grids typically need more than 10x as much energy stored in 4 hr batteries than they do in 1 hour batteries. That means that the 4 hr batteries will typically walk off with something like 5-10x as much cash as the vendors of the 1 hour batteries.

The pair of 1,244,599 trades are clearly just Payar Investments Ltd selling down - the second trade will no doubt be an inter-MM transfer. That seller has gone completely.

I forgot to say thanks very much goblesmythe.