Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
The very fact that Big Pawer are entering into an offtake with a project that won't be producing anything for YEARS tells you all you need to know about their business. Big Pawer are a relatively obscure, small VRFB manufacturer in China, who only make VRFB to a maximum capacity of 25 kw. Compare that with the 200 MW/800MWh battery currently being installed by Rongke Power in Dalian and you get a sense of where they are at.
If you had read regularly then surely you would have seen that the usual regular posters in BMN got fed up of having to constantly bicker with trolls, and so most have migrated to twitter. They are all active there I can assure you. You can join twitter, if you aren't already, and I'm sure you would find many here supporting the company there.
Both li-ion and vrfb are smaller and more versatile that Pumped Hydro. I'd say they can both be installed quicker than 20% of the time it takes a pumped hydro to be built, considering they can take at least 5 years.
However considering that South Korea recently had actually turn off a number of lithium-ion installations pending a safety review after 23 li-ion fires, and their energy storage implementation has slowed due to this, I can imagine that VRFB will take a fair bit more of the market share than 3.7%. Just have a read of some of the fire reports and warnings from US officials that are available on line if you want to see the genuine hurdles that li-ion face when it comes to safety. For example, google Arizona and lithium-ion fire.
There is a battery being planned in China currently that is 300 mWh. So that 200 mwh limit is wrong. Plus, you can effectively build vrfb as big as you want and need. I'm not sure that anyone has tested or found the upper limit of their capacity.
And world vanadium consumption was roughly 150,000 mtv in 2018, 135,000 of which was used for rebar. Even assuming that very small market share of 3.7%, they project a need for 138,000 mtV for energy storage alone.
An interesting, if fruitless exercise, is comparing the current valuation of FAR with BMN.
FAR produced 49.1 tonnes of vanadium pentoxide this quarter. At 56% contained vanadium that equals, 27.5 mtv.
Now compare that to the production at BMN which was 482.5 mtv at Vametco, 219 at Vanchem = 701.5 mtv.
Mcap FAR = £32m
Mcap BMN = £167m.
BMN produced 25.5 times the amount of FAR this quarter, yet it is only 5.21 times the Mcap.
On this basis, BMN should be £816m, or FAR should be £6.5m. Either way, the valuation relationship between these companies is very out of whack.
SCoutS, have you heard of the Dalian battery in China by any chance?
Basil, your estimation of how much vanadium will be needed for the Dalian battery is a little off.
If we assume that the figure is 4.5 kgV/kWh, which is around the mid range point of those quoted on the BMN webinar presentation, then 4.5 x 1000 = 4500 kgV/mWh.
800 mWh for dalian X 4.5 mtV = 3600 mtV.
Yea, 100% open cast mining is level 4 of 5 of lockdown. So unless there is total lockdown, bmn can operate 100%. That's quite a remarkable outcome going forward when you consider how long this could be dragged on for and the impact on other industries.
Dear Market Makers,
I would like to buy some shares, but have been unable to for the last half an hour. Do you have any? I see you are taking some, so you must. Would you mind selling me some please at these prices. Thank you in advance,
Endion
It is usually due to volatility in the share price during the auctions. In this case someone was willing to pay 9.6p for around 25k shares whilst two other orders were on the ask at 9.1. Until the auction is settled on a price at the UT executes, the auction is extended by price monitoring extensions.