George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
At this moment in time with a recognition that CellCube needs a serious amount of funding, it’s really not practical or even useful to try to guess what it maybe worth until the MUST rto prospectus and related BE carve off plans for the future are released. The one thing that is clear is that any worth to BMN will come from being a shareholder, it’s not planned to be a part of the main mining business.
April 18 2023
The Minister of Forestry, Fisheries and the Environment, Ms Barbara Creecy, has launched the public consultation on the intention to exclude the development and expansion of solar photovoltaic (PV) and battery storage facilities from the requirement to obtain environmental authorisation. Read more…….
https://www.greenbuildingafrica.co.za/south-africa-environment-minister-applies-to-excempt-solar-pv-projects-from-certain-environmental-requirements/
@LukeC4… Fastmarkets usa reported spot prices have been hovering around the $40 + mark, although somewhat below the FM’s $45 he called a “ sweet spot” a few years ago, its still a reasonably good average and benchmark for BMN’s cash position, although that depends on its actual realised sale prices, not spot prices.
One thing we now know from IR for certain - the purchase price is paid up front and prior to shipping, so due to the circa 6 week shipping/landing lag, anything landed this month will have been paid for in 1Q and of course, shipments landed from January 1st through to early February will be counted in the audited full end of year cash position results.
Know what you mean Sharesahoy, but it’s probably still a bit of an unknown at this time, they have to complete the feasibility study first, and then may have to go out for tender for the BESS?
However … as this is Cape Town and so very much a home grown project and will almost certainly need a very long duration BESS solution to meet the intended needs, a VRFB solution maybe seen to be the most likely choice.
Imo, although we’ll once again have to wait and see what develops, it’s surely becoming more and more obvious that a large capacity VRFB manufacturing and assembly facility is desperately needed, one that is capable of churning out large quantities of VRFB units if they are ever going to be able to compete for larger scale projects with other more well established BESS solutions. They now got the nectar coming on tap, they now need a way of providing the huge numbers of units that are required to pour it into!
The City of Cape Town will design, build and operate a R1.2 billion solar PV plant with battery storage capable of providing up to a full stage of load shedding protection.
https://www.esi-africa.com/southern-africa/cape-town-announces-plans-to-build-and-operate-a-r1-2bn-solar-plant/?utm_campaign=ESI23%20-%20Weekly%20newsletters%20-%20Wednesday&utm_medium=email&_hsmi=70902910&_hsenc=p2ANqtz-_vjsKXO3W_cjzomvt-3EQcXAFp5Tk7nxkkEN2cJmEwtqyA1c9yxeYk3uYYmLzK-xq8j8xq4pnL2cuLli2n88uW0T5d0A&utm_content=70895651&utm_source=hs_email
According to all the publicity last year- there was nothing much left of the stash he’d hid in his sofa after his ranch was raided by a bunch of robbers! Almost cost him his job in fact! But yer, might now be well in need of lucrative investment returns - from the a newly listed JSE company!
It’s always been the plan. I’m surprised most here were not aware of it.
RNS Number : 6070Y
Bushveld Minerals Limited
14 May 2021
§ Including the ZAR36 million spent to date (approximately US$2.1 million), capital expenditure for the construction of the electrolyte plant has been revised to ZAR217 million (approximately US$13.6 million), originally US$10 million.
§ Bushveld's capital expenditure investment commitment for plant construction has been amended to ZAR81 million (approximately US$5.1 million) through 2024.
The remaining balance of ZAR136 million (approximately US$8.5 million) will be funded through equity and debt instruments in terms of the agreement signed between Bushveld Energy and its partner, the Industrial Development Corporation of South Africa.
@faramog …
Belco is expected to produce about a million litres of vanadium electrolyte before the end of this year, Nikomarov said.
However, although the plant — which has cost close to R100m and could run to another R160m by the end of 2024 — was rumoured to be ready to open last month, the doors are still shut, and the company is mum on the launch date.
"We need to align the timing of the interview with the opening of the plant," said Bushveld brand and communications head Kesebone Maema.
"The date of completion of the plant is not yet confirmed."
Nikomarov said the plan was to increase output from a million to at least 8-million litres a year over the next four years, which will make it the largest such facility outside China.
In fact, almost all the vanadium in the world comes from only three countries: China, Russia and SA.
This puts SA — and now East London — in a key position in one of the world's key growth industries.
The Belco plant will employ about 55 people. Once made, the liquid will be shipped or trucked elsewhere to where the batteries -- known as vanadium redox flow batteries -- are made.
https://www.dispatchlive.co.za/news/2023-04-12-vanadium-the-new-kid-on-the-east-london-renewables-block/
@ faramog,
“Nikomarov said the plan was to increase output from a million to at least 8-million litres a year over the next four years,”
That backups what FM said last year in an interview that “i the plant will take several years to ramp up to its full installed capacity”.
My numbers are taken from Alfacomps estimated ratios. However as we have recently learned, the ELZ plant has been designed to meet individual customers Battery/electrolytes requirements, also supplied from various sources. That will probably affect the quality, durations, volumes and ratios. It’s seems not the case that one size fits all.
So they did, I’d forgotten that, thanks for the reminder Ben.
1MW.h of energy storage is calculated to use between (a conservative) 4-4.5 Metric Tonnes of Vanadium (MTV) and 1 MTV = 1.78 MT of V2O5. 1 MTV = 8 MT of Vanadium Electrolyte
The potential to have an output capacity of 1 million litres by the end of this year is just that.
“Nikomarov said the plan was to increase output from a million to at least 8-million litres a year over the next four years,”
Which is something we already know.
They have consistently stated that it would take “several years” to ramp the plant up to producing the currently installed 800 million litre maximum capacity. - but have the ability to temporarily meet a short term spike in demand by introducing shift work.
What it needs now is at least a 1 litre million supply order to help them push it into commercial production beyond what’s planned to be poured into their own mini-grid battery back at the ranch.
Battery maker Invinity Energy Systems has been awarded £11 million ($13.7 million) by the British government to build the UK’s largest-ever grid-scale battery storage.
The grid-scale battery storage project will feature Invinity’s Vanadium Flow Battery technology, which provides long-duration, nondegrading energy storage and is ideal for the management of renewable energy systems. Invinity asserts that its battery technology will last for more than 25 years and is almost completely recyclable.
The 5MW/7.5MWh battery system will be able to store enough energy to power 2,500 homes for over two hours.
The grid-scale battery will be assembled in Scotland, at Invinity’s factory in Bathgate, West Lothian. Invinity, along with energy storage and infrastructure developer Pivot Power, will install the battery at the Hilltop Energy Centre in Cowdown, Hampshire.
The battery will be integrated with the existing power infrastructure and will provide crucial support to the National Grid during times of peak demand. The battery is expected to go live in 2025, and it will be the longest-duration battery asset to be connected to the UK grid.
This investment is a clear signal from the Department for Energy Security and Net Zero that long duration energy storage [LDES] will play a vital role in delivering a secure and affordable UK energy transition.
The UK is already an LDES pioneer, with market conditions that provide a positive environment to support these new technologies to reach maturity at scale and pace, and deliver real impact this decade.
This investment could prove to be a pivotal moment for the UK’s energy grid, and we hope to see it have global ramifications, to stimulate more of this type of investment into LDES around the world.
https://electrek.co/2023/04/12/uk-largest-ever-grid-scale-battery/
Despite a $30 million injection by the BMN consortium for expanding CellCub’s battery manufacturing capacity — unlike Invinity announcing regular project wins, CellCube haven’t announced they've won a bean on their web site for years. Zero contracts! What are they doing?
On the face of it that surely means they are in need of a way of just keeping the light on let alone an injection of further major capital investment?
How do you run a business that’s has had zero sales for years?
But then, if that’s the case —- the question that has to be asked is —- why is Garnet also wanting to retain an option to stay involved in a company that requires further major funding?
Maybe Garnet will be content just to remain a shareholder?
Given the attached conditions:
If (i) the full amount of the 2023 CLNs has not been raised by 30 April 2023;
(ii) the full amount has been raised, but Mustang has not obtained binding commitments of at least US$15 million towards its proposed fundraise at Readmission, nor funded Enerox with another US$1 million until the end of June 2023, in each case by 31 May 2023;
or (iii) Mustang has not obtained approval of its proposed prospectus in relation to Readmission by the 30 June 2023, Garnet will have an option to terminate the Garnet Acquisition, and upon investing a minimum of US$3.5 million into EHL, take a controlling position in EHL.
In such circumstances Mustang may still choose to complete the Acquisition (Stage 1), Acquisition (Stage 2) and Acquisition (Stage 3) and continue to Readmission but only with its minority position in EHL which would be approximately 46.4%.
—— this would appear to be a rather high risk strategy!
Although I’d hazard a guess that the BMN consortium behind the recent $30 million enerox investment have agreed to provide the means and funding to ensure it will go through … the FCA could still put the block on it by not approving the MUST prospectus by 30/6.