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Nick - don't forget that new rebar specifications that expressly require Vanadium come into force in China later this year. This could add another 20% (16,000 tpa) to world demand. There is no chance that Vanadium prices will fall below 60 USD/KgV for at least the next 2 years with all this going on.

..and there it is 1000 shares sold back to the market makers at 21p - cost GBP 210 to try and fool those looking in for the next hour or so. Good luck in trying to buy them back at that price.

LadyJennifer - I have had to disable all forum and user login features until we can develop registration and signup modules that provide all the sign-your-life-away-backside-covering features that GDPR obliges us to do.

someone is desperate to sell 1000 shares at 21p in the 11am auction. They do this because the LSE system shows SP as the last auction price (which gets reported as an uncrossing 'UT' trade) instead of what it usually does which is to use the mid-price between the Ask and Bid. Ask yourself why someone is trying to make out that the SP is falling. Answer: they wish to buy your shares at low prices. Pretty transparent really.

Remember that V2O5 production is often quoted in tonnes of V2O5 (only 56% Vanadium by mass) whereas FeV and Nitrovan production are quoted as V tonnes - i.e. the number of tonnes of Vanadium contained in the Alloys/Compounds. You can only compare like with like if you multiply V2O5 production figures by 0.56.

Great stuff nick - good that someone takes advantage of the 500K that were sold at only 21p earlier this morning.

BBN - great post - The Bushveld Perspective has a 'Vanadium Projects' Project which a number of us are contributing to ( https://www.thebushveldperspective.com/adopt-a-project ) it's quite a big job to keep tabs on all the V projects that are out there and to keep the db up to date so I think we may need to have to do community curating for this project. Anyone else interested in helping out please feel free to step up.

You mean back to 24p - then on to 30p.

YTSS - I principle any dilution effect should be factored in when the warrants are first issued, it depends somewhat though on whether the strike price (the price that the warrant holder has to pay) is significantly above the current SP - if it is not then then the any dilution should be immediately factored in when the warrant is issued. Us PIs have steadily chewed through about 100 Million warrants since the start of 2017, so 19 Million is nothing to be much exercised about.

https://www.thebushveldperspective.com/warrants-tracker Following the exercise of over 7.5M warrants in two weeks ago there only remains just over 19M warrants outstanding. Of these only a small number - just over a quarter of a million, need to be exercised by the 25th August.

Loudspeaker US FeV prices are only 31.25 USD/Lb V - that is only 68.75 USD/Kg, what a disaster - this is only 175% higher than when we completed the purchase of Vametco in March last year and only up 400% since January 2016. https://www.thebushveldperspective.com/vanadium-prices Since buying Vametco we have of course significantly increased our stake from 26% to 59% by buying out Yellow Dragon ( see https://www.thebushveldperspective.com/slides/slide/bushveld-minerals-in-a-minute-50 ) Now it looks like we are about to Buy out Sojitz's share of Vametco - lifting our ownership to the level of 74% - and yet we are still only valued at around a PE of 4.5 - fair value just for Vametco is at least 2.5x this :- the SP should be around 70p

Wolfman_Jack - I agree with your point of view re the Largo debt - it is just worth reminding oneself about the incredible stategic play that Fortune made in getting Brits and then Vametco thereby avoiding the potential significant build costs of a green field plant. It will be fantastic to see if he can pull something similar off a second time - after all we know he is certainly trying.

Perhaps more to the point is the 150M USD placing that Largo just completed - I quote:- the net proceeds of the Offering will be used, together with cash on hand, to repay in full Largo's existing debts with both the BNDES and its syndicate of commercial lenders (Itau� Unibanco S.A., Banco Votorantim S.A. and Banco Bradesco S.A.), plus accrued and unpaid interest, and to pay fees and expenses in connection therewith. So they are raising cash to pay off existing lenders. What a lot of work to raise money from Peter to pay Paul. Someone remind me just how much debt Bushveld Minerals has ....

Thanks for clarifying JMC

Buzzipster great finds, from the more recently updated project (PPA 11768) : The Bushveld Vanadium Project is located approximately 65 km west of Polokwane and 45 km north - northwest of Mokopane from the 2016 Mokopane PFS:- The Project is located .... approximately 65 km west of Polokwane and 45 km northwest of Mokopane in the Mokopane District, Limpopo Province, Republic of South Africa clearly it is the BMN project as is the older updated project (PPA 15637): - Bushveld Minerals is proposing to develop a new open pit magnetite mine with associated infrastructure on a site located . Perhaps one is for the mine and the other the processing plant.

I am sure everyone will be delighted to know that we now have a greatly enhanced and hugely extended set of Terms and Conditions, Cookie and Privacy Policies now available on the Bushveld Perspective. Everyone enjoy:- https://www.thebushveldperspective.com/gdpr-policies-from-24-may-2018

Presumably it did not come as surprise to the market makers then - so by implication they must have known about it beforehand. Presumably needing shares they decided to increase the price so that they could buy them from the proceeds of sales at even higher prices.

pb940 - the volumes today are very small as well - so any concerted buying before the end of the day should have a big effect.

selling just 2 shares in the 11am auction so as to temporarily mess up the LSE reporting of SP.

BBN FeV prices, because they are for an alloy of varying constitution should I believe be quoted per Kg of contained Vanadium - thus you should be able to directly compare an FeV80 price with an FeV50 price - in principle the FeV50 price might be slightly cheaper as you have to lug around more stuff to get the same amount of Vanadium. Remember of course that in FeV it is bog standard Vanadium not the Nitrogen supercharged stuff that we sell as Nitrovan.