Member Info for Daisan

It would be truly remarkable if we smashed through 40p with barely a pause and never look back. I am not expecting this to be the case without very significant news.

Practically everyone on the ARS board has filtered him.

Bizarrely there is still the contradiction of no new supply for a couple of years to address demand and the suggestion that the average FeV price for 2019 will be $45/kg.

Personally, I don't see how Bushveld can spin off BE. BE is necessary for the 'vertically integrated' message. Without it, there is no vertical integration and Bushveld exerts no influence over the development of VRFBs in Africa or anywhere else. The message around the benefits of keeping Bushveld Vanadium and BE together are so core to the company that I find it impossible to envisage a spin out.

Day 2? Do you mean month 2?

I agree that the warrants have usually all been sold by the time you see the conversion notice.

40p is likely to be round number resistance. The interesting aspect has been the speed that we have moved from the last round number resistance.

Debt is an interesting issue and is just symptomatic of how the market has developed over the years (to the detriment in my opinion). There is little doubt that from an accounting perspective some companies taking on debt is a huge positive and we see it all the time in the US particularly. In fact, arguably a key driver of the US equity market over the last few years has been share buy backs using debt. Personally I think that it is buying performance at the expense of tomorrow but I understand that the market thinks differently.

I would argue for a growth company that having no debt can put you in an enormously advantageous position, particularly when combined with strong cash generation. Should opportunity arise it gives you so much firepower that you can take advantage. However, if the opportunity is not there then the company should be returning excess capital to shareholders. Otherwise the company opens up the potential for a lack of financial discipline.

Is it true. Is it necessary. Is it kind.

Ophidian,

Yes, very positive activity today on good volume. The most positive fact being that this is a weekly close which is generally given greater weight than a daily close. Not only that but it seemed to be closing strongly as well.

I quite like to see a successful back test of the break out zone but this is not a given and if the momentum is strong enough it may move further without one, especially given that our buyer seems to be happy enough to buy on the open market.

All in all, you would have to be pretty grumpy not to think that this week has seen a significant shift in the fortunes of the share price.

I suspect that people thought 37p was preposterous when we were languishing at 1.3p. Weirdly, if we project a similar rise now from 1.3p to 37p we get........£10.53. Spooky. Must be the Singaporeans.

http://www.goldensummitcapital.com.sg/

Whilst Golden Summit Capital is not necessarily the same entity as Golden Summit International, Thomas Chan is given as the contact for Golden Summit International in this document:

https://www.lawinsider.com/contracts/1pN9HtOWxhBfUIuw2GImqT/m17-entertainment-ltd/1731946/2018-05-25#the-parties-as-set-out-in-schedule-2

Which is all I can find for now.

Thomas Chan is Founder and Managing Director of Golden Summit Capital, a private investment firm based in Singapore. He has more than 20 years of experience in Investment Banking and Investment Management. Prior to founding Golden Summit Capital in 2010, Mr. Chan was a Managing Director at Goldman Sachs and had served in several senior roles within the firm.

In addition to public and private capital market investments, Golden Summit Capital has been an active participant in the venture capital arena, focusing primarily in the seed to early growth stage. The firm also manages a diverse real estate portfolio in Singapore and other parts of Asia and Europe.

Mr. Chan holds a Master in Business Administration from the University of Chicago Booth School of Business and a Bachelor of Arts in Economics from Stanford University.

Well, if his targets are for 3 months hence then he is a genius!

I think that you might want to review your words or disable your autocorrect Good2bhere.

It's a shocker. I read a tweet that suggested it looked like they were trying to put up a space station. No way is that going to get the go ahead and puts a marker in the sand for similarly low grade projects. Looks like this may filter out a number of the ASX Vanadium associated stocks (there are quite a few).

Released an absolute stinker of a 'study' today which suggested a capex of A$2-2.5bn (£1.1-1.4bn):

https://stockhead.com.au/resources/king-river-releases-underwhelming-vanadium-project-study-shares-get-pounded/

That is an UP FRONT capex, not duration of the mine. Despite this suggesting that the chances of this being developed are zero, they are progressing to a PFS in 2019 (I don't think that they should bother) which would suggest that they are at least 3-4 years away from production at which point I would expect a number of other (lot better) projects to be in production (not least Mokopane) and the Vanadium price to have stabilised.

I was treating the Vanadium market as a whole SickOfTheRatRace rather than breaking it down into steel and electrolyte but you are correct I am sure - most if not all of the new production from Bushveld is likely to be consumed in manufacturing electrolyte if the requirements for VRFBs in the region as suggested by Eskom's releases are to be actioned by Bushveld.

"Vanadium prices are likely to retreat as new supply comes into the market over the next couple of years...."
"However, new supply from advanced-stage exploration companies will take more than three years to come online."

The only way you reconcile these two sentences is if the new supply does not come from advanced stage exploration, which means the existing primary producers, the co-producers and the 'other sources' (stone coal, etc.). The primary producers are likely to raise their production of which I expect Bushveld to be the most significant. However, this will not close out the deficit. There are some minor new suppliers that will help a little but the other sources are influenced by market trends (use of lower Vanadium bearing iron ore) and the environmental laws. In fact, these two effectively come down to the environmental laws. So, effectively these statements are suggesting that the environmental laws will be routinely broken if the supply gap is to be closed within the next couple of years.

It is certainly possible that this will take place in a high priced Vanadium market but it is not a given. As such, it is worthwhile keeping an eye on reports about this practice and what action the Chinese authorities take.