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Based on BMN's average revenue per kilo last year that's how much I calculate the value of our proven vanadium resource is worth. That's without HPI and titanium. Now we are starting to roll I'll be very surprised if we are not in double figures before the end of the year and possibly much sooner.....

"· Ferrovanadium price averaged US$81.2/KgV in 2018, an increase of 148.9% relative to the previous year."

You're right, maybe it's an revised agreement.......

"The Company has now delivered sufficient tonnage to the potential off-taker for them to undertake a full kiln smelting test and expects to receive the outcome of the test in the next three weeks following which the Company anticipates that a long term off-take agreement with the off-take partner will be reached."

The outcome of smelting tests expected in next 3 weeks i.e. by 8/2/19 latest. Assuming successful, I wonder if the terms of the agreement are already agreed and just need signing or will there be a period of negotiation? In addition what exactly are the numerous potential development partners interested in? I would guess that they want a piece of the action i.e a stake in the business?

I believe ours was over $1000 per tonne, but can't find up to date prices. Has anyone got a link?

32 Millions tones of HPI - what value?

I spoke with someone who chatted with Peter Cox recently and he got the impression that the a selected partner may take a large stake in Ironveld. That would make a lot of sense and coincides with the statement in todays RNS "The bulk sampling operation, combined with the increase in the vanadium price during 2018, has enhanced the profile of the Project. As a result, the Company has received numerous enquiries from potential development partners, a number of whom have carried out extensive due diligence. The Company continues to evaluate all enquiries and will update shareholders with further developments as appropriate."

With it's massive resource "The Project's current resource contains 27 million tons of HPI and 1.4 billion pounds of Vanadium (V2O5) in situ." this is one of the most undervalued companies on AIM. It's started to roll now and will take some stopping!

The bulk sampling operation, combined with the increase in the vanadium price during 2018, has enhanced the profile of the Project. As a result, the Company has received numerous enquiries from potential development partners, a number of whom have carried out extensive due diligence. The Company continues to evaluate all enquiries and will update shareholders with further developments as appropriate.

and also to take a competitor out of the market!

Walker Crisps, 3rd largest investor in Kazera LOL. Maybe they are our offtake partner??
https://kazeraglobal.com/investor-relations/share-information/

Hargreaves Lansdowne Nominees Limited 40,221,888 15.66
TRACARTA 25,867,095 10.07
Walker Crips 23,867,095 9.04
Interactive Investor 15,409,724 6.00
UBS 14,674,265 5.71
Halifax Share Dealing 12,345,196 4.81
Malborough 10,866,667 4.23
Giles Clarke 10,499,410 4.09
Westleigh Investments 10,338,095 4.02
Harrison, John Nicolas 8,832,743 3.44

for the year ended 30 June 2018 are due imminently. Last year they were published on 7/12/17. What can we expect??

Very very cheap considering the value of this huge resource.....

Peter Cox, CEO of Ironveld, said:

"I am delighted that we have been successful in raising these funds to enable the purchase of equipment that will also us to meet the specifications of the ore that we are able to supply. We are hopeful that the successful delivery of the ore we are supplying through the sampling programme with our potential off-take partner will lead to a longer term agreement, ultimately generating significant revenue for the Company."

"The Company's Project has a vast resource containing 27 million tons of HPI and 1.4 billion pounds of Vanadium in situ. As vanadium prices reach historical highs, we are confident that we can capitalise on the growing demand and move towards monetisation of our asset."

Larry Johnson interview: "Incredible PPM levels, Unheard of"

Massively derisked opportunity now, Tantalum (essential mineral, computers/phones etc & high value) @ world class levels, off taker agreement in talks, Namibia a mining favourite jurisdiction

https://twitter.com/surprised_trade/status/1060080703499579392

https://mastermines.global/articles/is-vanadium-the-perfect-storm-for-investors/

Our drilling results report Very High Grades of Tantalum found at Homestead and Very High Grades of Lithium found at Purple Haze:

Homestead

0.5m of pegmatite with a grade of 12,149.41 ppm Ta2O5; and
o 0.5m of pegmatite with a grade of 4,139.35 ppm Ta2O5.

Purple Haze:

"the highest lithium intercepts were observed in boreholes DHLP02 and DHLP03, which intersected approximately 1 metre thick lepidolite (lithium bearing mineral) zones at a grade of 3.01 % and 3.59% Li2O respectively"

Compare these to Resource Corp who claimed the had discovered Very High Grades of Lithium and Tantalum at much lower grades:

"High-Grade Lithium and Tantalum confirmed by Channel Sampling" at "The best combination of grade and thickness from LU D12 returned an average of 1.53% Li2O and 64 ppm Ta2O5 over 11.58 m, including 1.9% Li2O and 52 ppm Ta2O5 over 9.02 m"

http://rockstone-research.com/index.php/en/research-reports/2002-High-Grade-Lithium-and-Tantalum-confirmed-by-Channel-Sampling

Nobody spends £647.5K on an off chance.

Just reading what they said "1.4 billion pounds of Vanadium in situ"

and we have in situ 635 million kg of vanadium. At $100 kg that's worth $63 billion (1.4 billion pounds converted into kg. See RNS linked below dated 26/9/18) and that's without HPI and Titanium. Surely with growing worldwide demand for our products this share has got to take off very soon.

"Ironveld's Vanadiferous Titaniferous Magnetite project has a resource that contains 27 million tons of HPI and 1.4 billion pounds of Vanadium in situ, the latter representing over four times the global annual demand."

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=IRON&ArticleCode=1158p8qx&ArticleHeadline=Ironveld_supplies_potential_offtake_partner

https://www.vanadiumprice.com/ See ferro vanadium price Oct 27th 2018 trading between $128 and $143 kg

See interview (at 1 min 40 secs regarding vanadium price increasing) : SP Angel's John Meyer and chairman of Strategic Minerals Plc (LON:SML) Alan Broome discuss with Proactive London the outlook for battery and strategic metals - in particular tin, tungsten, copper and rare earths.

https://www.youtube.com/watch?v=cl-O-q3gKAo&feature=youtu.be

Yep it definitely makes sense.........

jasehem, exactly my view part of their due diligence process.