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Thanks for sharing. Did Nick Derby used to be appear in the list?

I remember he's still invested but doesn't post on LSE anymore because, after his cancer scare, he decided to live life more (don't blame him with the money he must have!), but wondered if used to actually feature on the list?

Nice blue start to the week. I believe we should move to 14-15p quite soon.

LT Target remains: 100p +

Nitrided Vanadium Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

“Nitrided Vanadium Market is growing at a High CAGR during the forecast period 2020-2026. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market”.

Top Key Players Profiled in This Report:

Bushveld Minerals, Pangang Group

Various factors are responsible for the market’s growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Nitrided Vanadium market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the Nitrided Vanadium market’s trajectory between forecast periods.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Nitrided Vanadium market.
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Nitrided Vanadium market.

https://primefeed.in/news/3421656/massive-growth-in-%EF%BB%BFnitrided-vanadium-market-to-witness-astonishing-growth-by-2026-bushveld-minerals-pangang-group/

So I believe there's only 6 trading sessions to be purchasing shares at this sort of price level (I don't expect it to change much before the news) before this rockets up to 350p+

I will continue to take advantage of this whilst I can, having bought from 274p through to 296p already in various tranches.

Best of luck all :)

As you can tell, I work with quite a few large companies around the world, and this gives you an idea of how I know about this multi-billion UK company intending to set up a vehicle to invest in energy storage over the next few months. I'm just not allowed to say who it is because it's a current client. i.e. I'm not talking boll*cks here, they're going to do something v similar as the Colruyt Group. (ideally investing directly into vanadium!)

Good research over the weekend guys - thanks for posting.

Also really enjoyed the video from SloppyGuiseppe - thanks for sending. I actually used to negotiate some of the insurance for Ireland's electricity network including "Semo" (think I'm allowed to say that now!) who discuss the 'day-ahead' and 'intraday' trading market to make the electricity market as efficient as possible.

Also the video discusses people being able to store and sell solar power they've generated to neighbours and/or back to the grid. This is something that's already happening in Australia. For instance, a massive company called Synergy (who I also used to place their insurance for) have done this for 2-3 years already, and I remember them telling me how it has reduced demand for energy from them, and reduced their revenues, but it's something they fully support because they believe it's the right thing to do - to reduce reliance on fossil fuels and allow people to create, store, and sell their own energy.

https://www.synergy.net.au/Solar-and-battery/Explore-our-range/Choosing-your-battery?tid=Explore-our-range:side_nav:Choosing%20your%20battery

It probably makes sense for small lithium batteries to be used for households but it also makes sense for vanadium batteries being used for medium-to-huge businesses and by solar and wind farm operators. That is the future. Australia knows this already. And the rest of the world will get to the same point too. Europe evidently will have to make rapid progress to meet its own ambitious 2030 targets for instance.

So it's abundantly clear that the demand for vanadium is going to skyrocket over the next few years, driving up the price, and making Bushveld incredibly and increasingly profitable during the 2020s.

DYOR & GLA

Thanks for sharing - have you got a link?

Ooo share a link, Sloppy

Thanks again as ever for all your research - it's much appreciated!

That's what caught my eye in the first place.

Having done some research, it's a profitable company, which has grown year on year, and is continuing to do so.

It looks as though revenue and profits will rise by 16% ish, meaning the EV/EVIT is currently standing about 9.5

Good dividend policy too.

They could benefit from the break-up of the "Big Four" and pick up more customers off the back of the failures of the "Big Four" to spot what was going on at WireCard etc.

All looks v positive. Watching with interest. (and wishing I had more money!)

I said we'd tick up a little and we did. Not quite 11.8p but only 0.05p off.

We started the week at 12.45p and finished at 11.75p. A 0.65p / 5.6% difference. Not great but nothing as dismal as how some people were talking at some point.

What I feel the week has demonstrated is the importance of sentiment on this board. The unfortunate thing is many people are currently seeming to see a red arrow and get more pessimistic about things and that drives sentiment and the price downwards. Whereas when we found our mojo once again on Wednesday/Thursday the share price rose with it. No supposed MM games could prevent us rising, and that demonstrates the power of us PIs and the overall mood on here.

Putting mojo to one side, it is clear we're very undervalued at present, and it's also clear that there are many reasons to be excited - as per my post earlier - so I would encourage people to remain positive.

Have a great weekend all : )

but they're coming in v slowly on what seems to be a quiet day for the stock market overall

Can see this finishing at about 11.8p. Bit annoying when everything was pointing to a strong buy in the charts today towards 150 but it's still 7% up from a couple of days ago tbf.

A rise to 14-15p next week I hope

Looks as though Colruyt Group may have discovered the virtues of vanadium through the wind farms they already own...

I therefore doubt they're merely looking to sell "VoltStorage" batteries for EUR 5,999 to ordinary households only. I reckon they will explore how to use this for their windfarms. Give it time.

Wonder who is [ultimately] supplying their vanadium? Bushveld supply 50% of the world's vanadium outside of China so there's a fairly good chance it's us

"About Virya Energy

Virya Energy was founded in late 2019 by Colruyt Group and Korys to combine their respective renewable energy holdings. Virya Energy currently holds participations in Parkwind, the Belgium based company active in offshore wind energy, and in Eurowatt, a company predominantly active in French onshore wind energy but that is also present in the Polish, Spanish and Portuguese renewable energy spaces. Virya Energy focuses on the development, financing, construction and operation of renewable energy assets and has the ambition to pursue its international growth. Through the combination of its participations, Virya Energy aims to foster technological and knowledge exchange between its teams and to create economies of scale to remain an important player in the rapidly evolving renewable energy industry."

As mentioned, I know of a multi-billion UK company who are looking to also create a new joint ventures entity to centralise and streamline their green energy investments; and the top of their list was energy storage batteries.

I will let you know when I've heard more news on this later in the year. [They have to tell my colleagues and I about this for the work I/we do in a professional capacity]

The Colruyt family, the family that gave its name to one of the biggest retailers in Belgium, has invested in VoltStorage. This German start-up produces big batteries for home-storage of locally produced electricity (solar panels, wind…)

Via their private holding Korys, the family is the biggest investor of a group that injects €6 million into VoltStorage. How significant the Korys share is in the total investment is not communicated, but it is “enough to have a seat in the Board”.

Home-storage
With the significant increase of individuals producing their own electricity, the need for storing energy at home has also grown. “On average, homes with solar panels use 30% of their energy directly,” says Loïc de Schaetzen, investment director at Korys.

“The rest is injected into the energy network. When they are able to store the energy themselves, they can use up to 80% of their self-produced electricity.” The market of companies that produce these home-batteries has become extremely competitive lately, but VoltStorage claims to have an advantage.

“The batteries of VoltStorage are more sustainable and eco-friendly,” says de Schaetzen. “Most other batteries use lithium and cobalt, like in cars, we use vanadium. You can find it everywhere in the world, and it doesn’t lose its storage capacity. Furthermore, vanadium is recyclable and not inflammable.”

Vanadium batteries are already commonly used in the industry. VoltStorage wants to launch them for individual houses and, in the future, for apartment blocks and offices. “For that, we need a bigger battery, that’s why VoltStorage went to look for additional investors.”

Steady growth
Today, VoltStorage only sells batteries in Germany, Austria, and Switzerland. There are no plans yet to go to other countries. “The Belgian market and legislation are not yet ready for it,” explains de Schaetzen. “And at this moment, we’re very busy in the countries where we do sell. Sales double every year.”

At this moment, VoltStorage hasn’t reached breakeven yet. “We plan to reach this within two years.” Earlier investors are the American fund SOSV, the Swiss energy-company Energie360°, and the German entrepreneur Matthias Willenbacher. The new ones are Korys, Bayern Kapital, and the European Institute for Innovation and Technology.

Korys
The Korys holding behind the Colruyt family has already invested in green-energy companies. It already bought shares in companies like Parkwind, exploiting windmills to produce energy in a sustainable way.

Retailer Colruyt and Korys have also created a new joint venture, Virya Energy, to centralize and streamline the their energy investments. But at the moment, VoltStorage will not be integrated into this collaboration.

"Our scalable and low cost production base gives Bushveld a solid platform to implement its vertically integrated business model, through Bushveld Energy, our downstream vanadium-based energy storage business. In 2019, Bushveld Energy made significant progress across all its key areas of focus - advanced the development of electrolyte production capacity, deployment of its electrolyte rental model, development of energy storage mandates and launched the VIP as part of its strategy of developing partnerships for VRFB assembly/manufacturing. Investing in the development and deployment of VRFB technology is a key part of Bushveld's strategy for two key reasons. Firstly, it will assist to increase the scale of adoption of VRFBs, which will increase demand for vanadium. Secondly, it provides a natural hedge for the Company against vanadium price volatility. Our downstream and upstream targets will grow the Business and generate value for shareholders."

-Growing production from Vametco & Vanchem.
-Reduction in production costs. (somewhat assisted by a fall in ZAR currency)
- Increasing vanadium prices.
-Electrolyte production to come.
-BE contracts.
-Vametco mini grid news
-Mokopane offtake news/DFS completion
-JSE listing.
-Invinity (Avalon/Redt) news - who have already received orders for 40 vanadium flow batteries since the start of 2020
-Enerox news, and other strategic investments in VRFB companies?
-Lemur disposal?
-Govt stimulus packages aimed at green energy - $35bn for solar farms recently announced in the USA, etc
-Companies investing in green energy more than ever.
-Colruyt Group investing in vanadium batteries being used in Electric Vehicles. Who else will follow?
-A growing awareness of the limitations and risks involved with lithium batteries.
-A growing awareness of the need to store energy for when the sun isn't shining etc
-Projects being announced that will require lots of energy storage batteries - e.g. Cleve Hill Solar Project in Kent given UK Govt approval recently .
- ETC ETC

DYOR but there's plenty to be excited about here

"We see the coming demand for vanadium being powered by the roll out of clean energy across the globe. While there is plenty of interest in the generation side of the equation – e.g. solar farms – there is less public focus on how this energy will be stored, especially if the sun is not shining or the wind is not blowing.

Flow batteries, also know as redox flow batteries, are an Australian invention which we discuss on the podcast. Such batteries are likely to play an important role in the capital cost of energy storage, due to their density and life span. It is an area of technology that utilities around the world are taking more of an interest in.

Demand for these batteries is already picking up. We saw Invinity Energy Systems (AIM:IES) report last month that it has already received orders for 40 vanadium flow batteries since the start of the year. Utilities are already running trial projects. While it might be too bullish to describe vanadium as the next oil, the fast roll out of these batteries is going to place considerable demand on vanadium producers as well."

And let's not forget BMN own ~9% of IES!

is still 7 at most.

MC of $170m (converted from £135m)

+ Current Liabilities £20m

+ Non-current liabs of £73m -- being harsh to include this

- Cash in the bank

- Nothing else --- being harsh again not to include inventories

= EV of £231m

Divided by EBITDA of £32.6m

= 7

As already said, anything under 10 is a bargain, so 7 is dirt dirt cheap.

It also shows that you'd be mad to sell at this price. It would like selling a £100 voucher for much less than £100. You'd be mugging yourself off. IMHO

Appreciate I was probably the one to start looking at the NAV but it's worth emphasising that companies typically trade at some sort of multiple to their NAV. (Boohoo, despite all its scandals, is still trading at 250p+ vs a NAV of 22.9p for instance).

i.e. it's typically impossible to invest in a company at a price less than their net assets are worth.

However if we use other metrics:

- The P/E ratio is less than 3

- The EV/EBIT ratio is less than 2.8

P/E ratios can be up for debate but we're clearly well beneath what you'd ever find elsewhere.

Enterprise Value / Earnings Before Interest & Tax ratios take cash/debt into account and can help explain why a PE ratio is very low (i.e. because the company is carrying too much debt). Does that happen here? No, the EV/EBIT is also insanely low.

Anything under 10 is considered a bargain using this EV/EBIT metric, so an EV/EBIT ratio of 2.8 is unheard of.

In my opinion, whichever way you slice it from a fundamental point of view, this shows this is a crazy bargain.

Ah I was looking at the Net Assets (which have grown from more than quadrupled from £56m in 2016 to £241m in 2019) and comparing it to our MC.

Can see you're right the 2019 reported NAV per share is 16 cents / 14pish. Not sure why there's this discrepancy but it's a 53 x increase compared to the 2016 NAV of less than 0.3cents.

Still illustrates what a superb board we have in place.