Member Info for Alfacomp

Actually despite 250K sells injected at 11:34, 11:48 and 11:57 the concerted buying has just about sucked all of these completely up. It is no doubt rather interesting to look back at the 'sentiment' on this board just before that sequence of trades.

SOTRR - to answer your question - the strength of BMN+BE lies entirely in their integrated nature which insulates BE to a great extent from high Vanadium prices, essentially paying only the cost price for the Vanadium, a situation that no other VRFB manufacturer has got in their favour.

As far as target goes it would be unjustifiable to put my finger on any particular figure before the BE business model and the BMN dividend delivery model are known. What I can say is that it is not below 2 pounds at this point in time for me.

SOTRR - I don't think that BE do have or should have any interest in designing batteries. Other people have already done that and the technology is well established. What they can do is make electrolyte and assemble batteries under license for sale into the African market. That would be an incredible business to be in.

Nihilfit

The only one I can think of is a takeover offer from someone like Siemens at 1 pound or more. It would have to be someone like them, and not just a commodity miner like Glencore, for Fortune and Mikhail to be at all interested in playing ball.

A takeover offer at these prices might be accepted by a number of the shareholders on here, though not me as I think multi-pounds is quite feasible, but if it went through then that would leave me with a large capital gains tax bill to pay and I would not be able to use my allowance over many years to draw it down more tax efficiently.

Hope this helps a bit.

fb and royando - looks like you might be benefiting from someone dropping 2x250K between 11.30 and 12.00 I do hope that they owned those shares and were not looking simply to try beat the price down.

pb940 - nice find - the only small point to make is that the IDC is part of the SA government not the world bank.

Three weeks ago was valued at 364M Mcap and position 64 in the AIM100.

Today they are now worth 240M and have fallen to position approximately 90.

Thus we will end up roughly 2 ranks higher than the position of 74 as shown on the graph here:- https://www.thebushveldperspective.com/blog/public-blog-1/post/the-race-for-aim100-update-20-aug-2018-287

The guys on the street have heard of Mulberry and understand that they make handbags. They have not heard of Bushveld Minerals and probably have no idea what Vanadium is.

But they will.

I have complete confidence that there are really good reasons why things have been handled the way they have. I can wait as long as it takes to reach the potential that we all know that the company has. Rushing will not be in our long term benefit.

Headancer, no problem it is worth repeating every now and then

Headancer,

I guess you could say that it was pretty obvious, and anyone in the industry would know this as if it were in letters 50 feet high.

The question of whether Glencore might ever consider trying to completely corner the market in ex-China Vanadium mines is one that only those inside that organisation would know the answer to. I suspect though that if they did they would be in for a strong reaction from a number of quarters

1) us shareholders - typical a rather easily bought off bunch, but on this occasion just a bit too much on the ball to go the normal way of AIM

2) The south african government who has had it's own painful experiences with large and monopolistic mining concerns in the past, and who would be delighted to retain BMN as a) competition for Rhovan to keep them honest and b) as the hub of a future high value energy storage sector in SA.

3) Fortune and Mikhail - who clearly have the establishment of 2b) as a career defining goal.

Well done fatbanker, let's hope you don't have to take another one for the battalion

jjhbev - great, you can contact me at editorial @ thebushveldperspective . com - anyone else wish to contribute on this or any other subject - there are a number of interesting projects that have been put slightly onto the backburner and could do with someone to take them forward.

Ophidian,

the 2017 production report for Glencore put their Vanadium production at 20.9 million pounds of Vanadium Pentoxide ( http://www.glencore.com/dam/jcr:88d8679a-0eda-47c0-bb37-409415ddd33d/GLEN-2017-Q4-Production-Report-.pdf page 3)

This is 9,500 Tonnes of Vanadium Pentoxide, which only contains 5,320 tonnes of Vanadium - so Rhovan is a very similar size to Largo and to what we will be in perhaps no more than 18 months.

Headancer. Glencore already have a slice of this market, then own Glencore Rhovan. Oh and they also have a takeoff agreement with Largo for all the production.

So the only mine outside of China not controlled by Glencore is ours.

Okay the comparison with Largo is something that needs to be written up permanently on TBP with a proper graph of MC over time.

When we get news on Sojitz or production upgrades new visitors are going to want to calibrate where we stand against Largo - who is interested in taking this on ?

Ahh yes I forgot their warrants thanks for reminding me Nick - that then gives us some significant catching up to do.

Jamiejojo - Largo produces about 10,000 tonnes of Vanadium Pentoxide which only contains about 5,600 tonnes of Vanadium.

They are currently have a market cap of very close to 1.4B CAD which is about 1.067B USD.

If you simply scale by the production quantities then Vametco MC should be 3,750/5,600 of this - this would be 714M USD, or 560M GBP. Our 59.1% of Vametco would then give us an SP of 30.7p

Their production costs are slightly lower than ours, but they also have a significant amount of debt - it was 200M USD but they converted some a few weeks back and I have not had the chance to catch up on where exactly they are now.

In short the two valuations seem to agree if you assign zero value for our

Brits Resource
Mokopanes Resource
Lemur Project
Bushveld Energy
Our Tin holding in Afritin
Everything else.

Tyfoon - that is Scott for you - whatever you do or say you will not convince him that the rest of the world has been familiar with rechargeable batteries for decades. Still let's overlook that now, the boxes they are selling, whatever they call them have a lot of Vanadium inside.

Not RedT who were up more than 12% this morning on news of a VRFB sale to Anglian Water. Great news for the global VRFB industry.

Seems shareholder dissatisfaction actually had an impact down under

https://twitter.com/stockswami/status/1031373243641290752

I wonder what kind of aftershocks this might have for their attempts to get funding in the future. It's not a situation I have ever seen before.