RE: RNS31 Jul 2019 08:34
H1 2019 EBITDA of US$48.6 million is an increase on H1 2018 despite the lower (14% lower) Vanadium prices since the start of the year.
Eskom VRFB commissioned and continues to operate.
Procurement for the Vametco minigrid starts in Q3 2019 - that starts tomorrow.
Electrolyte produced from Vametco feedstock and supplied to battery companies including the rental contract with Avalon and Sandbar Solar
Wage negotiations with AMCU completed for three years - this was something we were not previously aware of (unsurprisingly).
Brits mineral resource published showing 1.58% average Vanadium grades in magnetite.
Mokopane DFS started - " Mokopane is intended to become a primary source of feedstock for Vanchem and its development will be accelerated as a result of the Transaction. The capital expenditure requirements associated with developing Mokopane are significantly reduced to approximately US$20 million (based on current estimates)." ... as a reminder, the original cost of building the Mokopane mine and processing plant (9,525 Tonnes of V2O5 pa = 5,334 Tonnes V pa) was $298 million.
We shall be getting a fully operational mine and processing plant at a fraction of this cost, quicker, and with zero dilution.