Member Info for Libero

Since we were last at this price level in December:

- We've had Vanadium prices increase 30-40% worldwide, and a consensus form that prices will increase another 30% more to comfortably over $45kgV. With the Democrats having recently taken power in the USA I reckon this may be underestimating things but is still excellent.

- We've had BMN confirm that their Vanadium production was 25% higher / 700 tonnes of vanadium higher Year on Year

- We've had BMN confirm that they expect production to rise by another 700 tonnes this year despite works being done at both Vametco and Vanchem.

- The works at Vametco and Vanchem will increase annual production up to 4,200mtV and 2,600mtV respectively = 6,800mtV between them.

- Much higher production/sales X Much higher sale prices = SIGNIFICANTLY bigger profits for BMN

So how on earth are we here?

Vanadium prices are currently $35kgV worldwide vs $25kgV in December. That's a massive 40% difference. So one could argue that 15.5p today is 40% more of a bargain than it was in December.

We also recently had Fortune say in an interview that the cost to replace both of BMN's 2 Vanadium Processors alone would be $600m = £436,000,000

Our Market Cap is about 40% of that figure right now, and that's only for the 2 vanadium processors. Bushveld's assets are worth a multiple of that !

Honestly this is complete madness that we're at this price. Bargain of the century.

Buy in and load up whilst you can at these levels. We will not be here for long !

Also FYI the CEO of Portliner saw the potential of flow batteries for shipping 5 years ago, so has always been very ahead of the game in this sense.

He originally planned to use lithium ion flow batteries but they failed all the tests so they had to abandon that idea completely. Which would explain why he is now going for VRFBs and working with Bushveld/Enerox on this major project of his.

And, according to Wim on the Telegram group (who is super clued on this and may speak Dutch to translate all the stuff online about this), the VRFB technology passed the tests with flying colours, and can be recharged up at ports in under 30 minutes. Less time than it takes to recharge your phone.

So this sounds like completely revolutionary technology we're talking about here; and Bushveld/Enerox will be front and centre of all of this !

- Ridiculously low market valuation at present vs any analysis of Fair Value, which is a multiple of where we are now. With both Vanadium Prices and Vanadium Production well up, this current share price is even more of a bargain than it would've been a few months ago.

- Green Stock as well as an excellent mining stock. Not widely perceived to be Green yet but this will change very soon.

- Investors Chronicle, Financial Times, Myles McNulty, and many others have all tipped BMN at the start of the year.

- Out of hundreds of companies, Stockopedia came up with their Top 20 tips for 2021, and BMN came 3rd (and will do better than the two above it I believe)

- Vanadium prices have risen massively in recent weeks, and are expected to reach $45gV at the bare minimum this year, and BMN's share price always seem to track the commodity price sooner or later! (there's a huge gap at present!)

- Vanadium prices are now rising so fast I believe we will see $45kgV in the next 4-6 weeks

For newbies, please read Lionel's Summary here: https://www.thebushveldperspective.com/blog/public-articles-1/post/lionels-big-picture-428

Upcoming Newsflow:

- Vametco Phase III expansion project news (using Orion Funding) to raise production to 4,200mtV per year

- Vanchem Phase I refurbishment news (using Orion Funding) to raise production to 2,600mtV per year

- Enerox & Invinity news
- Enerox are working on the world's first ever floating VRFB and this should be announced in Q1 - please see my other post on this
- Enerox MoU with AVL in Sept '20 suggests the company is expecting to need so much vanadium. I wonder why.
https://themarketherald.com.au/australian-vanadium-asxavl-up-15-pc-after-deal-with-enerox-2020-09-09/

- Electrolyte Plant Construction phase start in Q1. This was pencilled in to start on 22 Feb so truly is imminent, and this may get a separate RNS in itself. For proof: Check the tender docs on the ELIDZ tender website https://www.elidz.co.za/tenders/

- Electrolyte Rental Contract news.

- Eskom BESS Tender News

- More energy storage contracts being announced now that things have opened up in S Africa.

- Vanadium commodity prices to rise above the psychologically significant $40kgV mark very v soon

- JSE Listing News and/or Main Market News. This clearly will happen - just watch this video interview with the CEO at 33 mins in for Fortune's comments on this topic - https://youtu.be/AX_WdScGDVw

Big News is coming, with 8+ share price catalysts on the way, which may actually all come in rapid succession! (which would explain the lack of news in recent months)

Target: 100p+

Can't take credit for this because this came from those on the Telegram group and actually BBN has already tweeted about this (https://twitter.com/BigBiteNow/status/1354826993590657027) but ...

A company called "Zel BV" will be using ships made by a company called "Portliner."

The "Portliner" website it says that it will launch its first ever "zero emission" vessel, a 135m container ship, in Quarter 1 of 2021. And they have strong ties with Enerox.

Also if you look at the Enerox website, you can see that it talks about a "Floating Energy Storage System with Portliner" https://www.cellcube.com/about-us

All of which leads us to believe that there will be a mega RNS in regards to Enerox supplying the VRFB for this, and in regards to Bushveld supplying the vanadium for this battery on a ship.

It seems as though Bushveld/Enerox are not the only ones to have the idea if you have a google of 'VRFB vanadium shipping' but if Portliner meet their Q1 2021 target as per their website then WE will be the first !
https://eepower.com/news/vanadiumcorp-to-develop-vanadium-redox-flow-battery-technology-for-ships/#

The market for this is absolutely massive, because there's thousands of ships out there of course, and the shipping industry is under pressure to be much greener. Here's one of many articles on this very point - and this one says VRFBs may be the key!
https://www.maritime-executive.com/article/could-flow-battery-technology-help-shipping-decarbonize

So, long story short, this Portliner VRFB-powered ship may well be one of the major share price catalyst we've been looking for and (with the exception of BBN) it doesn't seem like anyone saw this coming! It would certainly take the whole market by surprise!

PS - Have you seen that Enerox are currently hiring for 9 different roles? Something is evidently in the works!

Wow that’s amazing!

“ Bloomberg NEF expects the global energy storage market to grow 122-fold by 2040, to 1,095GW/2,850GWh.”

Also delighted to see Vanadium prices continue to rise overnight : )

Whoa sorry for the spelling errors - I’m on my phone and not sure what happened there but you get the gist!

Because ultimately they need us more than we need them.

There’s barely any vanadium producer so they’ll still come to us for their vanadium I’m sure. (Whether tha the in a gentleman’s agreement behind the scenes or not)

We’re still linked with them with the electrolyte rental company.

And so actually selling our stake after its risen so much makes perfect sense. And when the stock market were valuing our stake in IES at zero I’d rather have that converter into cash in the bank to be honest.

That money will then be used to help fund other exciting Green Energy projects and plans.

Very exciting times ahead :)

Also worth pointing out Invinity's Oct 2020 RNS saying how the state of California (always controlled by the Democrats - now it's the entirety of the USA!) specifically wanted to "NON-LITHIUM ION ENERGY STORAGE."

https://www.lse.co.uk/rns/IES/invinity-chosen-for-78mwh-of-california-projects-hpohq4g6ml35dpo.html

Why? Because lithium batteries have the potential to cause wildfires. (Same problem Australia has with lithium).

All of which suggests that America is finally about to play catch up to China with VRFBs.

And it's going to send vanadium demand rocketing, and send Bushveld's profits soaring!

100% Agree Sanchez. As said before, I wish we were dual listed in the USA. Perhaps something to email the company about actually.

Also what you say re USA links in nicely with what I said last week about the US becoming a completely different beast to what we've seen in recent years.

Know I've mentioned it before but the fact the Democrats have taken over the Holy Trinity that is the Presidential Office, the Senate, and Congress for the first time in a decade is massive for green energy and battery storage.

They've only been in power a couple of months and already we're seeing so much more from the USA than we had done during the past few years when Trump & the climate-change-denying Republicans were in control.

As I said earlier when I shared with you all earlier the recent vanadium news we've seen just in the last couple of weeks, it's clear that the USA are going to become a major adopter of Flow Batteries, which the Democrats see as vital for the future.

And, as we've now seen, the USA are now paying higher prices than even the Chinese for vanadium. When was the last time that happened? I honestly cannot remember.

So we now appear to have the world's 2 super powers appearing to be gearing up to battle it out for metals critical to making their respective countries' energy systems more sustainable, more reliable, and generally just greener.

Meanwhile you have the likes of South Africa, Australia, Saudi Arabia, and others now adopting VRFB technology like never before.

This therefore feels like that we're at a historically important moment in time in a way that'll become more apparent as time goes on.

And we're lucky enough to be invested in the best primary vanadium producer in the world, who will be making extraordinary profits as a result of rising vanadium prices!

So I believe things are going to pick up for us very very soon, and the next few years will look nothing like the past.

US Dept of Energy Announces $24.5 Million for Manufacturing Innovation to Build a Clean, Resilient Electric Grid
https://www.energy.gov/articles/doe-announces-245-million-manufacturing-innovation-build-clean-resilient-electric-grid

US Secretary of Energy: ‘Flow batteries are good for grid storage’ - 18th March
https://www.energy-storage.news/news/us-secretary-of-energy-flow-batteries-are-good-for-grid-storage

US Sec of Energy Tweet promoting flow battery usage - 17th March
https://twitter.com/SecGranholm/status/1372288127965003776?s=20

New one announced on the website for Skaapvlei only. The remaining 6 projects are not mentioned on the tender website at all suggesting that they remain closed and we can announcements on them soon.

Re the new Skaapvlei tender - it's clearly a very compressed time frame from the dates given:

8 April - Pre-bid clarification meeting (next week)
13 April - New site visit (the week after)
4 May - Closing Date (3 weeks thereafter)

= 5 weeks from today

They will then need to assess the bids before announcing so presumably it would be 8 weeks or so from the closing date. So I'm guessing early July is when Skaapvlei is announced.

With the remaining 6 Projects announced much sooner.

Skindle & Ejackson,

Agree with you both, but am surprised that there has not been anyone willing to acquire the company to be honest, because it looks very undervalued to me, with what I consider to be Fair Value being 400p+

Mind you maybe that will change after the next Trading Update, and appears to have been pushed back a fortnight from today's RNS.

"Studio will provide a post-close trading update for the financial year ended 26 March 2021 as a whole during the middle of April."

Really look forward to the update.

Strong Buy Recommendation from me : )

DesertStar,

Completely agree with you. I emailed the company about this on Friday and a specific point of saying how we need to dispose of Lemur ASAP to ensure no funds are willing but unable to invest here seeing as some of them have much stricter 'no coal' policies than others.

My view is that it would be better if we offloaded Lemur for $1 than to hold onto it when it doesn't appear to be adding any value / doing anything / part of strategy at all, and instead is helping prevent the share price from reaching its potential.

- Ridiculously low market valuation at present vs any analysis of Fair Value, which is a multiple of where we are now. With both Vanadium Prices and Vanadium Production well up, this current share price is even more of a bargain than it would've been a few months ago.

- Green Stock as well as an excellent mining stock. Not widely perceived to be Green yet but this will change very soon.

- Investors Chronicle, Financial Times, Myles McNulty, and many others have all tipped BMN at the start of the year.

- Out of hundreds of companies, Stockopedia came up with their Top 20 tips for 2021, and BMN came 3rd (and will do better than the two above it I believe)

- Vanadium prices have risen massively in recent weeks, and are expected to reach $45gV at the bare minimum this year, and BMN's share price always seem to track the commodity price sooner or later! (there's a huge gap at present!)

- Vanadium prices are now rising so fast I believe we will see $45kgV in the next 4-6 weeks

For newbies, please read Lionel's Summary here: https://www.thebushveldperspective.com/blog/public-articles-1/post/lionels-big-picture-428

Upcoming Newsflow:

- Vametco Phase III expansion project news (using Orion Funding) to raise production to 4,200mtV per year

- Vanchem Phase I refurbishment news (using Orion Funding) to raise production to 2,600mtV per year

- Enerox & Invinity news - MoU with AVL (https://themarketherald.com.au/australian-vanadium-asxavl-up-15-pc-after-deal-with-enerox-2020-09-09/). Which obviously suggests the company is expecting us to be involved with the goliath Eskom BESS contracts.

- Electrolyte Plant Construction phase start in Q1. This was pencilled in to start on 22 Feb so truly is imminent, and this may get a separate RNS in itself. For proof: Check the tender docs on the ELIDZ tender website https://www.elidz.co.za/tenders/

- Electrolyte Rental Contract news.

- Eskom BESS Tender News

- More energy storage contracts being announced now that things have opened up in S Africa.

- Vanadium commodity prices to rise above the psychologically significant $40kgV mark very v soon

- JSE Listing News and/or Main Market News. This clearly will happen - just watch this video interview with the CEO at 33 mins in for Fortune's comments on this topic - https://youtu.be/AX_WdScGDVw

Big News is coming, with 8+ share price catalysts on the way, which may actually all come in rapid succession! (which would explain the lack of news in recent months)

Target: 100p+

GLA : )

That would explain the fall if it was a sell but the timing suggests it’s a 3m buy. If it is a buy, then why on earth did we fall today? Likewise, with no delayed sells reported on Friday, why did we fall that day as well?

If it’s one big artificial drop then I expect us to rebound quickly but all seems v odd to me. I can’t make sense of it to be honest.

All I know is that this is the most incredible bargain price. Even more of a bargain than where we were back in November I’d say.

#nobrainer

Denno,

Nothing has changed since we were at 24p except ...

- Vanadium prices have increased another 20% or so.
- Vanadium production was confirmed to be 25% up YoY.

The two elements combined should have seen us reach 40p by now.

Unfortunately Keystone Investment Trust were bought by Baillie Gifford who stamped their mark with a change of strategy which meant Keystone had to suddenly sell 100% of their 13,000,000 BMN shares as a result. This unfortunately coincided with some director sells for tax purposes, and a general downturn in the market. All of which has impacted sentiment triggering more sells it would seem. Compounded by a lack of comms since early Feb.

So, long story short, we had every reason to increase in share price from 24p to 35-40p, but instead we've gone the opposite way due to sheer bad luck in my opinion.

It does not change the investment case at all. In fact the developments since then have strengthened it. And made this price even more of a bargain than it would've been at the start of the year.

DYOR but we're onto a winner here.

*have an interesting habit ...

calamari,

You had an interesting habit of turning up to kick us when we're down. Swear you did the same at 9p a year ago, and the same around 12-13p in late Aug/early September, etc. Whereas when we were doing excellently for a few weeks in December and early Jan, and being tipped by Stockopedia, the Financial Times, and others in January, etc you're suspiciously quiet.

So I can only presume you perhaps get some weird kick out of turning up at our lowest moments. Wonder how you would like it if we did the same on your investments in AMGO, BIDS, etc. I won't do that but my point is that , even though everyone is entitled to their opinion, it isn't a very nice thing to do.

Can see your views are consistent with what you said when we had a debate back in August/September. As before, I believe you're completely wrong, but honestly cannot be arsed explaining why this time around to be honest, because it clearly fell on deaf ears last time. You could have made a nice return by now had you listened but c'est le vie.

Best of luck to you

James, Myles McNulty is still heavily invested in Bushveld and incredibly bullish. He said so just last week in that tweet I shared.

There's no conspiracy.

Haven't checked the maths but 4,000 tones of vanadium is very conservative, it'll be higher than that this year.

Also we will reach an annualised rate of 6,000 tones of vanadium per year by 2022.

And production costs will fall as production increases as well.

...and vanadium prices are expected to average $45-50kgV as well.

So yeah I reckon you're underestimating things Lister mate

South Africa

“South Africa has opportunity to win back lost share of global vanadium market – Bushveld” – 16th March
https://www.miningweekly.com/article/south-africa-has-opportunity-to-win-back-lost-share-of-global-vanadium-market-bushveld-2021-03-16/rep_id:3650

S Africa opens tender for 2.6GW Green Energy Project
https://renewablesnow.com/news/south-africa-opens-tender-for-26-gw-of-wind-solar-735032/

S Africa: “A new horizon for battery energy storage facility solutions is rising in the South African power system” - 19th March
https://www.engineeringnews.co.za/article/a-new-horizon-for-battery-energy-storage-facility-solutions-is-rising-in-the-south-african-power-system-2021-03-19

S Africa: “Eight IPPs to plug over 1 800MW to power grid”
https://www.moneyweb.co.za/news/economy/eight-ipps-to-plug-over-1800mw-to-power-grid/

Tweet congratulating EDF Renewables, Total, and Mulilo Group on being preferred bidders for the RMIPPPP. The latter (Mulilo) is based in South Africa.
https://twitter.com/SAPVIA/status/1372808814924341248

USA - I'm seeing a major shift here all of a sudden !

US Dept of Energy Announces $24.5 Million for Manufacturing Innovation to Build a Clean, Resilient Electric Grid
https://www.energy.gov/articles/doe-announces-245-million-manufacturing-innovation-build-clean-resilient-electric-grid

US Secretary of Energy: ‘Flow batteries are good for grid storage’ - 18th March
https://www.energy-storage.news/news/us-secretary-of-energy-flow-batteries-are-good-for-grid-storage

US Sec of Energy Tweet promoting flow battery usage - 17th March
https://twitter.com/SecGranholm/status/1372288127965003776?s=20

Obama mentioning VRFBs (Admittedly v old)
https://twitter.com/Stockonomist/status/1371450864561487884?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

VRFB Recycling
https://www.einnews.com/pr_news/536859286/u-s-vanadium-successfully-recycles-electrolyte-from-vanadium-redox-flow-batteries-at-a-97-recovery-rate

China (this is the tip of the iceberg of course)

VRB Energy to build a 100MW VRFB in Xiangyang, China
https://www.power-technology.com/news/vrb-energy-battery-integrated-photovoltaic-power-station-project-china/

Saudi Arabia

“‘100% renewable energy’ luxury resort in Saudi Arabia will use 1,000MWh battery storage system”
https://www.vanadiumcorp.com/news/sustainability-news/100-renewable-energy-luxury-resort-in-saudi-arabia-will-use-1000mwh-battery-storage-system/

“Schmid JV to begin building 3GWh Saudi Arabia flow battery factory”
https://www.energy-storage.news/news/schmid-jv-to-begin-building-3gwh-saudi-arabia-flow-battery-factory-this-yea

... and there's stuff going on in Japan, Korea, Australia, the UK, and many other places of course.

All of which will boost Vanadium Demand.