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It's a shame that the ignorant posters who continually denigrate charts and technical analysis don't spend their energy on actually educating themselves. Just because they don't understand it doesn't mean it doesn't work.
It doesn't work 100% of the time, but it isn't meant to. It's an analysis of crowd behaviour and it can give you that vital edge when used properly with discipline.
Unlike fundamentals, where you sometimes have to wait years for a result (BMN 2018-21), a good trader can make smaller regular profits which soon add up. I know because I've been there, and the only reason I don't now use TA is because it was too time consuming for the lifestyle that I wanted for myself.
It's a fascinating and rewarding subject for those who have the ability to master it.
Uksteveg - not if you know what you're doing.
I've used spreadbets as part of my investment strategy for nearly 20 years. There are considerable advantages if you've used up your ISA allowance.
For instance, if you have another £20k which you want to invest, a spreadbet would only use up about £5k to cover the margin. The rest you keep in your bank account to cover any margin calls if the position moves against you. It's essential to have enough spare cash on hand. This where most people lose, by not being able to cover margin calls.
The profits are tax free in the UK and if you have profits on a position, you can take a large part of those profits out in cash to spend without reducing your position size.
Definitely not for anyone who doesn't understand how it works.
I can't emphasise that enough.
If you don't have much spare cash in your account and the price moves against you and puts your account in deficit, you will either get a margin call to deposit more funds into your account or if the deficit is too big they will close some or all of your positions to put the account back in credit. Closing a long position frees up that shareholding for IG but not necessarily for the wider market.
I used to day trade the FTSE100 and it was common to see unexplainable spikes in the IG price to force out profitable positions. Not for the faint hearted.
Beware if you're spreadbetting on IG.
At the close, every day for the last week, they've been dropping the price by 1p on forward contracts. Presumably trying to close out holders who haven't got much spare margin in their accounts. Doesn't happen on the daily funded bets. Haven't seen it on any other platforms.
HNY Libero. We covered this a month or so ago.
This is the construction schedule for the electrolyte plant
which can be found at the end of the tender drawings.
09.02.21. electrolyte plant construction starts
02.07.21. electrolyte plant section 1 complete
03.09.21. electrolyte plant section 2 complete
24.09.21. electrolyte plant section 3 complete
03.03.22. electrolyte plant commissioning starts
19.07.22. electrolyte plant handover
References to an extension to an existing factory looks to be an error.
I think they used a pro-forma document from another tender and didn't remove all the old data.
It was Fortune that started the "treble production" mantra and it still states that on the home page of the BMN website.
http://www.bushveldminerals.com/
Planned electrolyte production (4.5 tonnes of V per MWh)
2mt electrolyte- China - Fangchenggang (250,000 tonnes per year)
--------?------------ China - Ningde, Fujian (30,000 tonnes per year)
3,000 MWh pa -- Saudi Arabia, Dammam (13,500 tonnes per year)
1,650 MWh pa - China - Yichun - Jiangxi Yinhui New Energy (7,425 tpa)
1,000 MWh pa - China - Ankang, Shaanxi - Huaqin Energy (4,500 tpa)
---200 MWh pa - South Africa - Bushveld Energy Phase 1 (900 tpa)
---200 MWh pa - USA - New York (Margaret Lake) ph 1 (900 tpa)
Total of 307,225 tonnes of vanadium per annum (3 times 2019 global output)
As a global technology leader in the field of pioneering vanadium redox flow battery technology, Enerox is one of the pioneers in sustainable long-term energy storage.
The company is geared towards strong growth and is setting up a powerful, internationally oriented core team for project-oriented business development.
https://www.cellcube.com/job-offer-projektmanager-batteriespeichersysteme
The thing with Mokopane is that BMN only owns 51% of the mining rights. I suspect Fortune would like to get his hands on a larger %age before anything really happens.
I would have preferred to see him crack on with the full BFS to give us some optionality on a full greenfield facility that might interest a strategic partner.
Libero - you might want to take a look at this map of VRFB projects.
Not sure how accurate it is, but gives you a feel for the geographical spread.
https://flowbatteryforum.com/wp-content/uploads/2020/07/200701-FB-World-Map.pdf
Just in case anyone doubts the extra requirement for vanadium over the next couple of years, here is a list of planned major VRFB projects. Add in all the smaller Invinity type projects as well and you can probably double it.
Major planned VRFB projects (4.5 tonnes of V per MWh)
1,000 MWh------- China - Jiangsu TianWan nuclear station (4,500 tonnes)
1,000 MWh------- China - Jiangsu offshore wind integration (4,500 tonnes)
---800 MWh------ China - Shijiazhuang (3,600 tonnes)
---400 MWh------ China - Dalian (Rongke/UET) stage 2 (1,800 tonnes)
---320 MWh------ Eskom BESS phase 2 (1,440 tonnes max)
---500 MWh------ China - Hubei Zaoyang Ph 2 (VRB Energy) (2,250 tonnes)
---400 MWh------ China - Yancheng (Shanghai Electric Group) (1,800 tonnes)
---400 MWh------ China - Wuhan (1,800 tonnes)
---166 MWh------ Eskom BESS phase 1 package 2 (747 tonnes max)
---160 MWh------ Eskom BESS phase 1 package 1 (720 tonnes max)
---300 MWh------ Australia - Pangea, Port Augusta (CellCube) (1,350 tonnes)
---180 MWh------Bushveld Minerals self generation project (810 tonnes)
-----82 MWh------ Eskom BESS phase 1 package 3 (369 tonnes max)
-----51 MWh------Japan - Abira Town Hokkaido (Sumitomo Elec) (230 tonnes)
-----40 MWh------ China - Wafangdian Zhenhai Wind Farm (180 tonnes)
One off total of 29,096 tonnes of vanadium required
Global vanadium production in 2019 - 111,225 tonnes
-----------------------------------------------------
If that isn't enough demand, then look at the extra yearly requirement for planned electrolyte production.
Planned electrolyte production (4.5 tonnes of V per MWh)
2mt electrolyte- China - Fangchenggang (250,000 tonnes per year)
--------?------------ China - Ningde, Fujian (30,000 tonnes per year)
3,000 MWh pa -- Saudi Arabia, Dammam (13,500 tonnes per year)
1,650 MWh pa - China - Yichun - Jiangxi Yinhui New Energy (7,425 tpa)
1,000 MWh pa - China - Ankang, Shaanxi - Huaqin Energy (4,500 tpa)
---200 MWh pa - South Africa - Bushveld Energy Phase 1 (900 tpa)
---200 MWh pa - USA - New York (Margaret Lake) ph 1 (900 tpa)
Total of 307,225 tonnes of vanadium per annum
That's almost 3 times current annual vanadium production.
The timetable for all 3 packages can be found at the end of the consultants terms of reference which you can download here https://tinyurl.com/y5ho7lex
Sanchez599 - my understanding is that the initial contract award date for packages 2 & 3 was to be 21 Jan 2021. With package 1 delayed to allow extra time to prepare the bids, the subsequent tenders were also going to be delayed a short while.
If you look at the end of the consultants terms of reference document, there is a complete high level timetable for all 3 packages for the EPC and commissioning. So I'm expecting the release of the request for bids for packages 2 & 3 to be released any time now.