Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Cash is king and due to the delayed delivery times the absolute minimum BMN will be getting for their sales to the US well into next year is $44 per kg.
I've explained to Alfred before that Investing. Com get their prices from Asian Metals and that CRU notes are the metric for tsales to the US.
Just like his take on the Vametco name plate capacit he has no knowledge of the company other than what's in black and white and seems a couple of soldier's short of a squad.
Clearly he is short or just a paid troll.
US FeV still $44 per kg.
https://twitter.com/AndreaHotter/status/1585551065788956678?t=Byyk2Xp7rV0LDHd2Kh18Fg&s=19
The 132,000 Kgs of Nitrovan known to be en route] to Baltimore will probably be commanding the US FeV price of up to 12 weeks ago.
@Viper that's a bit of an unknown atm.
At the time of the interims being published it was $7m.
But because of the closure of the port of Durban due to biblical flooding a bottleneck formed causing delivery delays up to 12 weeks, BMN are only paid on delivery.
There was 276 mtv in transit at sea worth around $15m when they were published, three weeks later the fcf would have been $22m. The estimated delivery time before this congestion had been 6 to 8 weeks
This was bought to the attention of the bod who are looking at this with the auditors for future reference.
The lack of research knowledge from the trolls is appalling, especially concerning Vametco
We bought Vametco from Evraz for a steal at $16m.
The reason being that Evraz had always blended the input ore with Vanadium rich sl@g from the Highveld steel plant nearby and when that shut in 2015 it was deemed that it was not financially viable to produce vanadium from the mine ore alone and it was mothballed and left to rust.
FM with the aid of World class geologolists the Vijoens and a highly skilled tech team proved them wrong.
The Kiln at Vametco had suffered from a lack of maintenance over it's operational years and proved troublesome in its early ramp up with BMN.
Obviously the name plate capacity would suffer using V concentrate alone, and it's age was showing.
In the early years pushing the old girl full pelt was causing frequent break downs and the decision was taken to reduce name plate numbers to an optimal one that produced a steady run rate with no breakdowns as it takes a long time for the kiln to cool down, be repaired and started back up
A regular maintenance program was put in place (nearly 30 days in this Q2) and numbers are now consistent with no breakdowns and are improving every quarter.
The Orion money was originally destined to completely refurbish the Vametco kiln but feasibility studies undertaken said that using the money to refurbish kiln 3 at Vanchem would result in an earlier pay back on the investment, we also own 100% of Vanchem.
We haven't had any serious incidents at Vametco since the maintenance plan was implemented and the plant has steadily improved its run rate.
This refurbishment switch was also approved by Orion,
My opinion is that the path taken was the right one and this puts the name plate capacity for the Vametco kiln to bed.
Social media troll influencers are well paid for their skilled dark arts.
Spooking people into selling their shares is a walk in the park for them
The can even get people to self harm, sometimes even worse.
Doesn't take a genius to work that out
As South Africa’s efforts to plug the gaps in our electricity supply grind slowly forward there’s a clear hole emerging in the plans for new, renewable energy generation.
Inthis edition of Podcasts from the Edge, Peter Bruce talks to Frank Spencer, head of deployment at Bushveld Energy, a subsidiary of Bushveld Mining, which is listed in London.
Bushveld is building a plant near East London to make electrolytes for its vanadium redox flow battery (VRFB). Spencer says a plentiful supply of vanadium in South Africa shouldn’t be overlooked as the rest of the world rushes into lithium ion batteries. The VRFB lasts way longer and doesn’t catch fire – and we can build it here.
To prove it, Bushveld is not only making electrolytes in East London, it is building a 3MW solar plant at its mine near Brits in North West to feed a new 1MWh battery, a demonstration VRFB, to show potential new clients.
If Bushveld gets it right, towns and cities could go the direct battery route and get Eskom to charge them when it is not load-shedding. It’s a new option. Different, and local.
https://www.businesslive.co.za/fm/fm-fox/2022-10-25-podcast-big-batteries-heres-a-way-to-do-it-our-way/
The last paragraph in the RNS is probably the most significant one.
· Demand for Bushveld Mineral's suite of vanadium products remains strong, and the flexibility afforded by the diverse product mix and wide geographic presence is a significant strength when the current reduction in steel capacity utilisation is considered, allowing emphasis on higher value products and markets. The expectation remains that sales volume will equal production volume.
IN BRIEF: Bushveld Minerals to produce more vanadium in 2022 than 2021
Tue, 25th Oct 2022 14:49
Bushveld Minerals Ltd - South Africa-focused vanadium producer and energy storage provider - Reports production in the third quarter that ended September 30 of 1,016 metric tonnes of vanadium, a fall of 3.8% from 1,056 metric tonnes a year ago but an increase of 52% on the second quarter of 2022, when it was 668 metric tonnes. Sales in the third quarter grow 25% to 1,034 metric tonnes of vanadium from 826 tonnes a year prior. Meanwhile, production for the first nine months of 2022 totals 2,657 metric tonnes of vanadium, 1.1% higher than 2,629 a year prior.
Bushveld says it benefits from a weaker South African rand.
The company adds it is on track to meet 2022 production guidance of between 3,900 and 4,100 metric tonnes of vanadium, at least 8.6% higher from 3,592 produced in 2021. Further, it expects costs to "normalise" throughout the rest of 2022, with 2022 production cash costs expected to be within guidance. Weighted average production cash cost in the third quarter was at 29.3 per kilogram, 7.3% higher than USD27.3 a year ago.
Current stock price: 4.65 pence
12-month change: down 55%
By Tom Budszus; tombudszus@alliancenews.com
SP is 4.65p but the MMs are selling at 4.64p making every buy print a red sell.
With the recent self generation scheme of 100 MWh without Nersa getting involved, all the red tape and hoops that the mini grid at Vametco had to jump through have now been removed.
If they stick to last year's schedule, they should be landing this week.
With the longer delivery times experienced during the first half of this year, I know everything eventually levels up, but at the time of the half years results there was a very significant amount of stock worth approx $15m in transit to customers and if the delivery had been made 3 weeks earlier the actual cash position would have been $22m not $7m.
Now I don't know if that was why the SP took an approximately 25% hit as the market deemed we were cash poor against debt level, but in black and white it was a big negative.
A member of the research group has bought this to the BODs attention and the matter is being looked at.
Another monster project starts in China
https://twitter.com/Paul39078971/status/1580083349078519810?t=9gUPw2gHYwIri33yDe8Oug&s=19
https://twitter.com/AndreaHotter/status/1579806050383196162?t=UsOFY41QlZ7tFAMGiy-Ujw&s=19
A few years ago spent lithium only got through the US hazardous waste materials regulations by the skin of it's teeth.
It will always be subject to review.
Yeah I read that, I want to know what their discussion paper says on the acceptability of Russian metal brands.
Sorry forgot the link.
https://twitter.com/AndreaHotter/status/1578127261991309312?t=8Qq8HWeCMzqsWyZ3bGboHw&s=19