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Don't be disingenuous. It says that it is not operating [right now]. It was working and passed the tests conducting previously.

Have you not seen pb940's post below? Or do you just read what you want to read? Haha

"Maybe they switched it off cos they have enough info to know it works but the lithium still needs testing?

https://www.miningreview.com/energy/winner-excellence-in-battery-metals-bushveld-minerals/

The Bushveld Energy business model is anchored in Bushveld Minerals’ low-cost production platform and smart partnerships along the VRFB value chain.

In 2018, we delivered our first VRFB project in South Africa, a battery with peak power of 120 kW and 450 kWh of peak energy. It passed a series of manufacturer and Eskom site acceptance tests during January and February 2019."

The main thing here is that Enerox will give us preferential treatment in the future, and - as BigBiteNow has said on twitter - Enerox ownership helps build up the case for Bushveld winning the Eskom tender over the next few weeks!

OK 307p is a bit better (7p more) than I was expecting

Really looking forward to tomorrow's news - it should be the start of an excellent 3-6 month period through from here to 400p+

DYOR of course & Best of luck all : )

Yes, we're at 12.25p according to google right now

Last chance to buy before the news tomorrow, and last chance to buy below 300p I reckon

Only 500% ?? ; )

"According to The World Bank, the production of battery metals will have to increase by almost 500% by 2050 in order to meet the growing demand for clean energy technologies. Through the long-life span #VRFB, vanadium gives users access to clean technology. #VRFB"

Agree it is probably being manipulated but it is only temporary. There appears to be 1 big seller but they doesn't have an infinite number of shares to sell 500,000 - 1,000,000 every trading day. They will eventually run out and, when they do, the share price will rise 100%+ in a very short amount of time. It's happened before here.

Sounds plausible.

Especially when China have already announced $500BN in infrastructure spending this year to help boost their economy - they're going to need a lot of steel and therefore a lot of vanadium, so why not?

No ignore my figures - I messed up completely. If I go back and delete those posts then I would. Sorry

14/15 Elements of the pathway have altered but the essence of what it is about, has very much remained. There is a crescendo feel to this, which culminates in contract wins, that enable the next leg of the Bushveld Energy story to take flight. A big win here opens up the door

15/15 for so much more, as the entity that wins it not only demonstrates its abilities with the biggest utility in Africa, but also receives a significant contract win and cash injection. Its been a tough H1 2020 for BMN investors, but perhaps H2 will now be a different story.

Thanks for sharing, Halespure

@BigBiteNow
1/15My first thought last night upon reading of the Eskom tender, was when will the Enerox deal land? Answer. The very next day. By my calcs. Original deal = €12.5m (90% = €11.25m)
2/15 New deal = €2.6m + €3.7m = €6.3m Equating to a c. €5m saving. Just like Vametco, over time, that is going to look like a very good piece of business. Thoughts. Is it a co-incidence that this deal lands the day after the BESS tender is announced? Most likely.
3/15 However, I don't buy the co-incidence argument when it comes to BMN. If I was going to go after a substantial Eskom contract, opening up the possible further substantial work, I would not only employ the entity with the greatest number of installations but also
4/15 the one I had the greatest influence upon. Today's RNS. "BEL intends to own a minority interest in EHL" "mobilise third party financing" "The Enerox VRFB product is one of the most widely deployed over the past 10 years"
5/15 "a newly redesigned VRFB product orientated around a modular and stackable 40ft container" If a consortium involving BMN is going to win an 80MW battery storage project from Eskom, then its going to have to demonstrate a strong history of installations.
6/15 Nobody for me demonstrates that better than Enerox. In addition, I believe its going to need some influence. The IDC is the partner for the electrolyte plant and were the ones that established the very path that has led to the Eskom BESS.
7/15 I wouldn't be surprised to see them now enter the frame here, be it that it may come at a more localised level. Think local VRFB manufacture.
8/15 Whether its the IDC or not, the form says to me that local powerful influence, has been a tool in BMNs box for some time and it is an effective one. The speed with which the Section 11 change of ownership landed on Vametco, is a case in point. Agree with it or not, its
9/15 a necessary tool in S.A and one I feel will be brought to bear further on Eskom. Its quite unbelievable how often BMN lands in exactly the right place at the right time but time and again that's what they keep on doing and betting against it is for me futile.
10/15 I very much appreciate that BMNs move into energy storage is centred around far more than just this Eskom project. I also appreciate that BMN have downplayed their involvement. However, it is foolish to believe that this project wasn't a key focus all along.
11/15 It is foolish to believe that BMN have not influenced its path from day 1 of its inception, headed up by the very entity that partnered with BE back in 2016. More of which can be read about in the 3 pieces I wrote way back in Nov 2018.
Bushveld Energy - Your Time is Coming
thebushveldperspective.com
12/15
Bushveld Energy - Eskom Battery Mandate 2018
Phase 1 (800MWh)
thebushveldperspective.com
13/15
Bushveld Energy - Your Time has Now Arrived
Phase 1 (800MWh)
thebushveldperspective.com

Love the reaction to my find haha

Honestly couldn't believe it when I went on the Eskom website, typed in BESS, and found that bulletin had been published the same day (on a Sunday of all days!)

faramog - what World Bank money are you on about sorry? (Genuine question)

****
You're spot on as usual. I misread the RNS. Apologies guys - I should've had my morning coffee before posting haha

Nevertheless it's a great deal. And a big discount to the EUR 12.5m purchasing figure that was first being discussed.

* The Consortium (not we) have bought 90% of Enerox for EUR 2.6m + "a nominal amount"

To work the cost out to Bushveld, we have spent:

75.6% x EUR 2.6m / $3m to buy 90% of Enerox = Cost to Bushveld of $2.27m
We now own 90% of Enerox's assets of EUR 4.5m / $5.3m = New Assets to Bushveld of $4m.
Gain on bargain purchase of $1.73m - at this point in time. This may increase significantly if Enerox does something similar to IES.

Then the consortium have committed to giving Enerox a loan of EUR 3.7m / $4.35m between now and year end. Of which $3.288m would come from Bushveld.

Pdub,

Hope your treatment is going well mate.

Great post. and yeah, just to elaborate, I really like this acquisition because Enerox have proven themselves to be very competent at making the vanadium batteries, and the fact batteries they build 10+ years ago still work well, and have sold over 130 of them to plenty of different clients is testament to that. It's really exciting stuff.

Actually feel a bit sorry for the Enerox guys because we've bought 90% of the company at a bargain price at what may well be the cusp of the VRFB revolution.

With Q2 Operational news coming out and an RNS for that Eskom Windfarm BESS contract tender due in the next few weeks, I honestly believe the share price will recover strongly over the next few months back to 20p+

DYOR & GLA : )

Daisydog - I agree. The RNSs are always far too bloody opaque. Really gets on my nerves.

Shows Bushveld are only preaching to the converted / those who already know a lot about the company already. That's not how you win over new investors so really must change.

The underlying progress however is as excellent as usual. We've got a cracking deal here.

As many have said this is superb news and is in line with the strategic aims of the company, and it's coming at such a great time, when (1) VRFBs are in greater demand; and (2) Govt Stimulus Packages aimed at the green economy/infrastructure as well as some specifically for VRFBs is being announced.

To make sense of the figures:

We own 84% of the consortium purchasing Enerox. That consortium now owns 90%.
= we own 75.6% of Enerox (84% of 90%)

We have bought Enerox for EUR 2.6m (approx $3m) announced previously + "a nominal amount". This values the company at EUR 2.88m (~$3.4m).

The company have assets worht EUR 4.5m ($5.3m).

This means we've bought these assets for what is effectively a 36% discount to what they're actually worth.

The EUR 3.7m loan from the consortium that has been announced should not be confused with the cost of buying the business, because this is basically a loan to ensure that Enerox can continue making VRFBs for the foreseeable future. It's capital the consortium would've perhaps had to pay for anyway as the 90% owners of Enerox.

Hope that all makes sense

Managed to open the document in the end - that’s huge definitive confirmation progress is being made!

RNS conforming Bushveld have put their bid in later this month. Followed by transformational news in September I hope. Construction will take 7-9 months so it’ll be built by this time next year. This is massive!!

“Eskom invites sealed Bids from eligible Bidders for the design, engineering, supply, construction, erection, testing and Commissioning of Battery Energy Storage System (BESS) with a minimum of 80MW/320 MWh usable capacity for a period of 07 months or earlier to a maximum period of 09 months and, Plant Operation and Maintenance Services for a period of 5 years at Koekenaap, Matzikama District Municipality, Vredendal, Western Cape, South Africa.“

If you type “BESS” into the search bar you’ll see that Eskom have published something TODAY!!

I’m on my phone so I can’t seem to download the document so please may someone do the honours?

https://tenderbulletin.eskom.co.za/

Bit of an old article but still well worth a read

https://www.esi-africa.com/industry-sectors/renewable-energy/bushveld-minerals-a-large-scale-battery-storage-contender/