Member Info for Lindon

The most important component in the BE spin off and the MUST RTO story is the electrolyte … BM get and retain ownership of the manufacturing and sale of it - to whoever and whatever small, medium and large storage energy customers who want it - and wherever they may be.

@fara.. yep, presumably the intention to ‘migrate’ the chemical plant ‘both in operation and ownership’ prior to the spin off is still part of the equation. That keeps FM in direct control of the most important component … with this controlling interest manoeuvre also retaining the whole vertically integrated model. Also going to include ‘lock in and partnership’ clauses ‘to be announced in the MUST prospectus’. Now we gotta wait for that to happen!

Could it be the procedural plan is to spin off BE into a being private entity and to reverse that entity into MUST at the same time?

" BM and BE will collectively hold 51.5 % of Mustang" ....... For now.

But will be the position once BE is spun off from BM?

Such as? He’s had no products to sell.
BE don’t make batteries and the electrolyte commissioning, testing and validation processes to certify the product from the ELZ plant is insurable to last for 20+ years, won’t be completed til sometime next year. You can’t sell what you’ve never had, and what is more no-ones gonna sign any contracts and commit to major expenditure on buying an un-validated product that you don’t yet produce!

RBC have only now initiated coverage.
As a acknowledge major specialist in the field, they were appointed as a joint house broker in order to arrange the BE spin off, as such, they undoubtedly know far more about what the proposed new structure is going to look like - and their main remit will to arrange for new institutional investors to buy into it.

Although the published 600p target might seem a huge mistake, given what they undoubted know as ‘insiders’ - it ain’t necessarily so.

Also notice also the sudden movements in the share market and increase in buying volumes since target price came out.

The timing of this could well be indicative that new news about the spin off is about to break.

Nov 19, 2022

According to the Minerals Council South Africa, their members have planned more than 6,500MW of embedded energy projects in the pipeline, forming the bulk of the more than 8,000MW of energy projects the private sector has indicated to Nersa it wants to develop.

The 89 projects by 29 mining companies represent more than R100-billion.

A point in case would be Palabora Mining Company, which has contracted Mzansi Energy Consortium to develop a 132MWp solar PV plant and battery energy storage system capable of storing 310MWh of electricity.
The Marula Green Power Plant is expected to be rolled out over two stages. The first stage is construction, with the second stage being operation and maintenance. Commissioning should reduce load-reduction-driven power cuts for PMC and support applications like energy arbitrage and demand savings.

The second parallel phase is the construction of the 132MWp solar plant and transmission lines to PMC, which will be commissioned in the fourth quarter of 2024. The Marula Green Power Plant will be funded through a limited recourse project finance structure with zero cost to the mine and is expected to reach a financial close in the second quarter of 2023.

Find out more about the nexus of power and mining …………..

https://www.esi-africa.com/industry-sectors/future-energy/procuring-energy-for-your-mine-is-a-process/

Will … “if it is too "pure" the commercial competitiveness goes out the window”.

That depends on who can produce ‘pure purity’ cheaper than the competition. Who dares wins … and for SA and the rest of the over 50 countries on the African continent BMN are obviously in the prime position as the VRFB mini- grid market becomes more established …. so nothing to stop BMN setting their own ‘in house’ electrolyte price and also eventually have a separately quoted African market V price - to go along with the USA, European and China market quoted prices. Could eventually lead to the establishment of a proper futures market for V getting off the ground, which, imo, would provide stability for everyone in the industry as VRFB’s start to disrupt the current litho based establishment in the ROW.

Electrolyte produced directly from tailings (AMV) will, I believe, be the next downward driver of electrolyte production costs, interestingly they showed a AMV flow diagram yesterday, but noticeably, no comments, but if that method can satisfy the purity needs in the commercial volumes required - and vastly reduced cost of other methods of production that it’s being touted to do, then who dares will certainly win - Imo!

You might find this old article from my notes by TP interesting, it showcases the purity issues. Presumably BMN have no probs producing to the required standards.

www.://usvanadium.com/u-s-vanadium-successfully-recycles-electrolyte-from-vanadium-redox-flow-batteries-at-a-97-recovery-rate/

Details from my notes, rather old and not sure how accurate they are now due to electrolyte efficiency advancements,in recent years, but probably reasonably good ball park figures.

1MW.h of energy storage is said to use between 4-4.5 Metric Tonnes of Vanadium (MTV)

1 MTV = 1.78 MT of V2O5. 1 MTV = 8 MT of Vanadium Electrolyte - dry weight comes out at around one eighth of the fluid weight,

- Kills time having arguments with other BMN PIs. (between glasses of sustenance)

Best bit!

‘Twas what he said - but as we all know, it’s going to depend on the what the BE spin off arrangements do to the market perceptions and by definition , the sp. We need that BE spin off info, everything hinges on that and we ain’t gonna know because of the timing of this meet!

He was 5minutes late to start too!

Someone phoned him for an Electrolyte contract!

@ eatstocks, spot on, but let’s now see what the results are when they open over there - and also how todays investor meet q&a session pans out … very disappointingly with no RNS released on the BE issues - it doesn’t look like it’s going to be as usefully informative as it might of been if took place after the news release. Another deliberately arranged poor comms tactic?

Best wait and see, it maybe all genuine but some of those posts looks to me like they’re coming from a suspiciously concocted effort - all the hallmarks of a typical p&d exercise.

But it’ll be good publicity if it attracts a wider American pi base.

@ Pat48, if they’re going to discuss anything that’s deemed to be sp sensitive news on that subject, I think they’ll have to issue an RNS first. Maybe they intend issuing an RNS between now and then?
Also, I believe (maybe wrongly) that today is supposed to be the last day for MUST to announce to the market what their current rto situ is with the FCA - is and if or not another extension is going to be required.

www.invinity.com/invinitys-flow-batteries-successfully-delivered-to-orkney-for-world-first-clean-energy-project/

Apologies - that was wrong link - this is the link for the Orkney project that is now in production
www. invinity.com/flow_battery_plus_tidal_green_hydrogen_orkney/

Hydrogen is only labelled ‘Green’ when it’s produced from renewable energy sources such as wind, solar or tide, which are obviously not a constant. Otherwise it’s grey or blue which are classed as ‘dirty’ production processes.

The electrolysis process needs a storage battery for the times when the sun doesn’t shine, the wind doesn’t blow and the tide is between its ebbs and flows. The benefits of a tidal source of energy is that it’s 100% predictable - that obviously isn’t the case with wind and solar.
Due to fact that the electrolysis process cannot be continually stopped and restarted its vital that is has a constant flow of power and battery that’s capable of doing the ‘heavy lifting’ and supplying the power - possibly for long durations of time- and more than just once every 24 hours - can charge and discharge virtually forever and those benefits are why the green hydrogen project in Orkney chose to use an Invinity VRFB.

This project in this article was completed, commissioned and is in full production.
www.shetland.org/blog/green-hydrogen-potential

Hydrogen is also more likely to used as a fuel as an alternative to LPG rather than an energy storage medium - although it can also be used for that IF it can be made efficient and economical. Currently that doesn’t appear to bd the case.

Yes, that situation has been made clear. They have confirmed that the electrolyte plant (BELCO) will migrate from the BE platform to BMN Vanadium - both in ownership and operation prior to the BE spin off.