Member Info for Daisan

And a very worthwhile contribution it was Jonnymaz!

This seems to be jumped on by the bulletin boards of every company I have followed on AIM for many years. The reason being, of course, that AIM investors hate dilution more than anything else despite the fact that AIM companies are the most likely to require it.

As has been stated, just because the facility is there doesn't mean that they will use it. However, if an opportunity exists (and I think the one that we are all most agreed upon is Vanchem) then having the firepower available is surely desirable. Consider that Vanchem will not be as cheap as Vametco. We are no longer at the bottom of the price cycle for Vanadium and Vanchem comes with certain embedded costs that need to be covered. It would not surprise me if we had to pay multiples for Vanchem but the opportunity presented in the current price environment is considerable and I would expect a payback measured in months rather than years.

Whilst I would prefer more open communication, there are circumstances when commercial considerations impact this stance. I would suggest that buying out Sojitz and Vanchem are two such circumstances.

I'm afraid not pablo2. I will have a look on the other board to see if the most frequent contributor over there did.

Well, the only thing that you can guarantee about that report is that it is wildly wrong. Considering the limited amount of exploration in the region, it is impossible to put a value on them. Indeed, if Tulkubash and Kyzyltash scale linearly with the exploration programme, the entire strike length could yield a resource that takes a large chunk out of this figure on its own. Add in a strong gold price and it may even get there! OK, that would require the stars to align, but if you consider that the strike length is 6-8 times that currently used for the resource definition, linear growth could yield that sort of resource.

Not quite sure what you mean GRAHAMBARNES. If you are asking how many shares are held in treasury, there are none.

I am not sure that we want to be in the same position as Grasberg. That is an enforced sale. Granted it is a sizeable sum but it is the world's second biggest copper mine. It has been dogged by political issues for years.

Copper tends to command a bit of a premium (and quite a lot over Vanadium currently) owing to the 'bellwether' nature of the metal. If Vanadium maintains its strong price for the next few years, this premium will be gradually eroded as the market becomes convinced that the prices are here for the long term and that pricing volatility has decreased.

Ophidian,

Thanks for your thoughts. Much appreciated.

Are there posts missing or has Chartist2 finally descended into madness? An N4P induced one I presume.

Very high profile locally by the looks of things. Considering this it is interesting that she chooses to work with Asiamet. I suspect that she has not come cheaply which shows a commitment to making this work.

RichKen,

A mine life of 13.5 years is fine and certainly justifies the project going forwards. The issue with funding it will be whether the financiers believe that the Vanadium price 'spike' has longevity.

The next few years will be volatile for Vanadium. If VRFBs take off the way we hope, there will be enormous demand that in the short to medium term just cannot be satisfied no matter the price. But the price will inevitably rise. This price increase will make a huge number of projects very viable indeed with money pouring in to develop them. However, the net result of this is that there will be a wall of production coming on stream in a few years. The interesting thing will be the balance. If the supply coming on stream is sufficient in volume (and I think that there is a possibility that this will be the case), then the price of Vanadium will come under severe pressure such that only the low cost producers will ultimately be viable. I think that we know who these are.

So the likes of Prophecy stand a good chance of being developed and potentially surviving whilst the likes of Aura, for example, may well be developed but subsequently struggle. In the meantime, Bushveld will essentially be running a money printing operation. There is an opportunity here over the next few years for them to seriously increase production to the tens of thousands of tonnes of contained Vanadium. Just think of the profitability of a 20k mtv/year FeV equivalent operation at $100/kg and all in costs of $20/kg (it's $1.6bn).

Obsured potential! :-)

Fascinating.

I take it this is the article?

https://www.investorschronicle.co.uk/shares/2018/07/11/bushveld-minerals-obscured-potential/

Waiting for the interims.

It looks like they have started drilling segment V which is their highest priority target for 2018 so we should get some interesting results back from there. By the looks of things they are satisfied by the connection between soil sample results and the presence of commercial mineralisation so their confidence of the overall resource must be very high and just requires the drill to confirm what they already suspect.

Alfa,

According to the list:

2850.00.20 Hydride, nitride, azide, silicide and boride of vanadium

What happened to a lot of the posts from this morning? I make it that about 10 or so have been removed. There didn't seem to be much wrong with them so I don't understand why they would have been reported.

Well, maybe not the same boat, but another boat sailing in the same direction (i.e. looking for supply). I'm not sure I can torture the metaphor much further! My reference was to the likely impact on Vanadium prices as a whole which are already reacting to this hunt for supply.

I actually think that it may have less impact than may otherwise have been the case owing to the fact that China is on the verge of becoming a net importer. We have seen the impact of that on Vanadium prices anyway and the process is likely to continue if not accelerate as China is in the same boat as the rest of the world in scrabbling around for product wherever it can find it.

The implication being that this is for the 10,000mtv expansion I presume. Yes, I did wonder when I read those words. They lack precision in their communication. Of course, this does enable an awful lot of idle speculation amongst us that we would not otherwise have to engage in.

Ophidian,

Apologies for the delay in replying. I was out until late last night and have been pretty busy of late.

You may well be right that we are now in a Wave 3. If so, the price rise will likely be significant before this rise is over. I would also expect it to be strong rather than gradual with big volumes. I am not in your league in terms of this analysis but I presume that you have a target price although as I recall you are reluctant now to provide these.

Ah! The Foundation series. A vision of genius. If you have read it you will note the existence of the Mule and the reason for the existence of the Second Foundation. Nothing is perfect!