Because after 12 noon yesterday the MM's sold more than 400K more shares than they were able to acquire. They sold these at an average price of 13.8p so now they need to find a way to get the price a little lower and then get those shares from somewhere.
If you can tolerate breathless yanks anymore during this lockdown period there is this from yesterday.
I see that the claim (about 8 minutes in) that Vanadium is very toxic has already been debunked. I copy the comments below:-
7:57 'Another thing I would like to mention about Vanadium is that it is considered very toxic'
This is an incorrect statement which needs challenging.
He is obviously referring to the IDLH (Immediately Dangerous to Life and Health) figure quoted for Vanadium Pentoxide dust in the air.
1. Vanadium Redox Flow Batteries have vanadium in aqueous solution and there is no dust
2. The VRFB electrolyte tanks are completely sealed and even if the electrolyte was allowed to dry out it would not form Vanadium Pentoxide
3. Vanadium batteries cannot burn
4. If you want to worry about something being toxic then perhaps worry about the toxicity of Lithium Hydride (IDLH = 0.5 mg/m3) or Hydrogen Fluoride, one of the deadliest vapours imaginable, both of which are generated in Lithium-ion battery fires.
5. If you want something else to compare with you can compare with Coal dust which has a IDLH level of 15mg/m3 i.e. less than half that of Vanadium pentoxide. Is coal considered very toxic ?
(all data taken from http://stage.moldex.com/wp-content/uploads/2019-Chemical-Selection-Guide-RevAC.pdf )
nice find Delboys, that's around a quarter of a million dollars there.
Interesting is the shipment earlier in the year, to Baltimore, but in the name of Corner Banca SA a swiss bank specializing in private banking, as well as in retail banking, providing lending, payment cards (Cornèrcard) and online trading (CornèrTrader).
indeed luderitz, which is of course why the Bushveld Perspective was created. Were it not for CV-19 there would have been an update on these articles from this year's conference.
I'm still hoping that the Vanitec ESC and the International Flow Battery Forum are going ahead this summer.
Drifter88 - the average cost of electricity is irrelevant, it is the cost of peaker plant electricity (something like 5x higher than the average) that you need to consider because peaker plants is what VRFBs are going to replace.
The US Eland project has already established that solar+4 hr storage can be provided at $20+$20 per MWh, albeit this is for Li-ion storage. This compares with peaker plant prices of $200 per MWh.
At a single charge per day VRFBs are only a bit more expensive per MWh, increase the battery duration to 8 hours and they will be cheaper than Li-ion.
I hope nobody misunderstands what the VIP program is all about. It is not about propping up a pre-commercial sector it is Bushveld's mechanism for cornering the market of up and coming VRFB companies. You wanted an integrated Vanadium-to-Batteries offering, this is how it happens.
With battery build costs of 40%+ attributable to the Vanadium alone it was always only going to be a matter of time before the Vanadium producers took control of the Vanadium-to-VRFB supply chain (the reason it is not the other way around is essentially because Vanadium producers have an already lucrative market in Vanadium for steel and so have no need to really bend to the will of any new VRFB boy on the street). Whichever speculators produced the Vanadium price spike in 2017 and 2018 they really did us a favour with their timing. Money flowed into Glencore, Bushveld and Largo's coffers, then Largo had to hand a big chunk of that back to Glencore. Bushveld kept its and invested in building out its Vanadium production capacity, cornering the brownfield production in South Africa as well as buying into the squeezed VRFB manufacturers at brilliantly discounted rates.
It just goes to show exactly what Fortune meant when he said that Vametco was the 'launchpad, not the destination'.
knuttie - when you see that the chinese are building a single VRFB the size of a football stadium I think that we can confidently conclude that they are getting closer to commercial adoption.
stodgy - I think that scenario is highly likely - SA is widely considered to have done a very good job in stopping the virus in its tracks whilst Brazil's leaders have been in denial up until now and have given the virus the chance to get a grip in the favelas
Ohhh, dear you know so little you sad pathetic individual. The real story is laid out here for those that have the smarts to figure out they actually need to do some research not listen to some here today and gone tomorrow Avatar on a bulletin board:-
Not at all Hamil, if you would have bought in 2014,2015, 2016 and early 2017 you would have made even more profit. Any investor who wants to get an easy profit without taking the pain of being down once in a while is deceiving themselves and maybe others.