RE: Vanadium Prices7 Mar 2020 14:43
from the last rns, these guys are getting on with it. it will turn and when it does the company will be in an even better position.
That said, we are not resting on our laurels and are focused on disciplined cost control across the whole Group to ensure that all operations are run on a sustainable basis in the current price environment.
Elevated production from Vametco, inaugural production from Vanchem and the execution of the Mokopane mining right is to be welcomed, however, one cannot just grow for growth's sake. We will make sure that we will continue to be conservative in how we invest capital and ensure that any production increase is profitable, especially while the current price environment prevails. In FY2020, we will continue to ensure that Vametco maintains its competitive edge by continuing to innovate, invest for the future and optimise margins, while at the same time providing the team at Vanchem with the resources necessary to replicate Vametco's achievements. This will allow us to build a business that is resilient throughout the commodity cycle and ready to capture the benefits of a price recovery.
By doing so, we aim to become an even lower cost producer of vanadium, with an increasingly diversified product range, allowing us to see through short term weakness, make decisions with the longer term in mind and provide a stable environment for the development of new downstream demand sources, such as energy storage.
Wish i had Alfa's deep pockets to top up.
GLA