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Lucan, It may well be that this is the case but I suspect that it couldn't be a huge amount given the volumes and the fact that the price dropped sharply (indicating very weak demand for the period). It is possible that this will mute a post CNY rally somewhat but I think it likely that sharper rises will not be that long behind. Of course, I could be wildly wrong!

Alfacomp, The point was that sodium's energy density is lower than lithium's rather than Vanadium hence the reason that sodium is more likely targeted at stationary energy storage.

There is significant evidence to suggest that there was at least one significant background seller before the second peak.

That said, there are a lot of these research projects and it is unclear which will overcome the many challenges and progress to commercial viability so I wouldn't reach for the antidepressants quite yet.

More significantly, the suggestion is that sodium can challenge lithium in stationary energy storage rather than mobile applications owing to the energy density. So a direct challenge to Vanadium as well.

Rather chaotic isn't it?

'Wild conspiracies' eh Chartist2? I take it that you are referring back to your posts on ARS?

Well, should there be a placing it clearly won't be for working capital which is what AIM investors tend to fear all the time so the real question is what would the placing be for? There is sufficient cash in the system and being generated to cover any possible capex currently in the public domain so by definition this would be targeted at something that is, as yet, not in the public domain (even if these things have been continuously speculated about!).

It's a spoof trade rather than a 'real' trade per se.

I think that the point is not whether the share price is going to go up or down (and nobody knows this irrespective of what they may say) but rather the fact that we have not seen the 'sell' trades to explain the disparity between buys and sells that have occurred on a regular basis over the last few weeks/months. I don't think anyone can reasonably dispute that the reported trades suggest a preponderance of buys over sells. Despite this the share price has gone down which suggests that there is large selling in the background. The fact that these trades have not been reported indicates that it may well be one or more large holders. Once the selling is complete we would expect to see a large trade that would account for the apparent disparity. Otherwise it is unclear what has caused the imbalance. If anyone has an explanation I am all ears!

These are currently providing some room for optimism concerning the progress of the transformation programme. Whilst it is still early days on both the current quarter shipments and the programme itself, the shipments look like averaging about 38 tonnes a week. If this conforms to approx. 60% production it would represent a meaningful increase. It is worth keeping an eye on this data as it could provide an early indicator of improvements.

I am not sure why we should be surprised by a large seller. First Island (Rhino Trust), if it is them selling in the background over the past few weeks (it seems like years), made a great deal of profit in a short period of time. They are not investing for their retirement but rather to generate funds for their institution. They may have investment rules that stipulate points at which they have to sell (this would certainly not be a surprise). In any case, they clearly started selling and I find that it is always wise to assume the worst case scenario in these instances i.e. that they are taking their holding down to zero.

Well BBN, far from flippant but it would be the first time I have ever seen or heard of such a thing in the mining world. I do, however, subscribe to the concept of long term contracts that could provide a discount in return for some other commitment that benefits the company and it may well be that the price rise provided an opportunity to negotiate such a contract. This is standard practice across many industries, the issue being that we haven't seen such a thing previously with BMN (although there have been suggestions that this is being looked into I believe). If the discount is as a result of this then it would be interesting to understand what the quid pro quo is and I would expect it to be significant if they have given such a discount as it is above market norms for this market currently if I recall correctly.

Good grades but they are only samples. I am sure we have all seen many companies where the sample results look great only for the drill to give mediocre results. Let's wait for the drill results but at least these results are promising.

I suspect that is the more likely answer knuttie. I find it highly unlikely that we would offer a discount because the price rose. Do BMN's customers offer a premium when the price falls?

It's not raining. :-) There is plenty to be positive about in the Vanadium space as I anticipate further upwards pressure on the price and Bushveld has the assets and geographical positioning to give them plenty of opportunities. But to ignore the production issues would be an error I believe. They are by no means insoluble and the company is obviously doing the right thing to resolve them but we will have to wait until the Q1 report (plus Paludina's reports) to judge whether there has been progress on this.

The obvious point is that production and costs are the aspects of the process that BMN have control of whereas the price of Vanadium is outside of that control. As these are the constituent parts of revenue and profit, of course the production volumes should be of primary concern.

I confess I put that one down as a French win but then again I didn't expect them to shoot themselves in the foot on more than one occasion!

Well, let's hope that the commissioning of the VRFB and commencing of the Eskom trial form the basis of a very upbeat BE report (which hopefully should come next week). There is reason for optimism based on the SPAngel news item and considering the emphasis that has been placed on BE, good news on this front should prove a shot in the arm for the share price.

Ophidian,

According to the latest BMN presentation I can find they indicate under Vametco:

"Complete the third phase of the expansion project which will take production capacity to 5,000 mtV"

http://www.bushveldminerals.com/wp-content/uploads/2018/06/Bushveld-Minerals-Junior-Indaba-presentation.pdf

Slide 26.