Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
LinkedDreams - the post got 121 recommendations, so fell short of the 200 target.
BMN are aware of the post.
If there's going to be any sort of corporate action, it's likely to be after the closed period ends when the accounts are published next week.
For those having trouble with the link, try this and go to "view presentations".
https://flowbatteryforum.com/past-events/
All the presentations from the recent online showcase are available to download here, including Mikhails. Some interesting reading to take your mind off the shareprice !
https://tinyurl.com/y2uhv4d7
numpty5 - FM has previously said that if a major shareholder wished to sell down, then he would facilitate a transfer to a buyer. This has not happened and the share price has suffered as a result.
The JSE listing provides a convenient route for a transfer of shares via a short term treasury holding. I don't see any downside to doing this and neither do 104 other readers of this board.
faramog - if FM was aware of GS selling, then why did Chika tell gambitxjs the opposite. That it was just a transfer with no change in beneficial ownership.
If GS are selling down out of spite due to a falling out with BMN (remember the AGM votes) then maybe they wouldn't play ball with FM regarding taking over their shareholding.
The bottom line is we don't really know what's going on, so let's try and force some info out of the company.
My post from 12:15 yesterday has now got 84 recommendations in the first 24 hours. Please go and read it if you haven't already.
If you're normally just a reader of this board and not registered with LSE, please consider joining so that you can make your vote count.
If it gets to 200, I'll write to the company to make sure that they are aware, although I'm pretty sure this board gets monitored anyway.
The sooner we can clear this Golden Summit overhang, the sooner we can move forwards. This will especially help those who had expected to be taking some profit out by now after all this time.
At the current share price it would cost BMN around £4m to take over Golden Summits' remaining shareholding. They could then be added to the existing 670,000 shares which are currently held in treasury until the JSE listing.
This would boost the share price in the short term and put us on a path towards a fairer market value.
They would almost certainly make a good profit on the JSE listing. With our current cash pile and revenue generation this is easily affordable and would go a long way to restoring shareholders faith in the board as it's obvious that a fair number of us are pretty disappointed with some aspect of the companys' behaviour.
Please vote this post up if you agree, to get some idea of whether this is a widely held view of the sort of action that we need from the board.
Alfacomp - there was an interactive web session on July 1. I assume it was there.
The 2 projects at the top of my list were announced last year. See page 12 below
https://tinyurl.com/y2tm5fs3
No detail but...
https://twitter.com/VSUNEnergy/status/1278331028625428486/photo/1
It's been rumoured that two new 1GWh vrfb projects in China were announced at the International Flow Battery Forum last week. If anyone can find confirmation I'll add them to the list below.
Major 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)
---800 MWh------ China - Dalian (3,600 tonnes in 2 stages)
---640 MWh------ Eskom BESS phase 2 (2,880 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)
---332 MWh------ Eskom BESS phase 1 package 2 (1,494 tonnes max)
---320 MWh------ Eskom BESS phase 1 package 1 (1,440 tonnes max)
---300 MWh------ Australia - Pangea, Port Augusta (CellCube) (1,350 tonnes)
---165 MWh------ Eskom BESS phase 1 package 3 (743 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 30,366 tonnes of vanadium required
The key date for the potential 1st Duferco conversion is 7 November 2020 which is the first anniversary of the Vanchem transaction closure.
Following any conversion "The holder will not be able to divest any Bushveld Minerals shares received for six months following conversion and be subject to an orderly market arrangement for the following six months."
The closing date for bids for the Skaapvlei contract has been extended until 30th September and the contract is expected to be awarded in November or December according to the "responses to clarifications" document released a couple of weeks ago.
It may well be that all of the above market predictions come true, that the vanadium market goes on to answer the VRFB call and it flourishes. If so then great because nothing cements the BMN investment case more than that. BMN is highly likely to have the ability to bring online more vanadium resource at greater speed, than any other source in the whole world. What I am communicating here is that BMN aren’t reliant on that success, that they have everything they need in house once the VRFB development arm demonstrates its ability to deliver large scale mandates.
It is for those reasons that a project such as the Eskom BESS project is so relevant. A great many market observers will likely see it for what it looks like on paper, a large contract that establishes the BMN energy storage subsidiary as a serious player in the market, and quite right. But as I have explained, that project is more than just a contract win, it is the key to demonstrating that the fully integrated model has truly arrived, and with it Bushveld Minerals in a way all other market participants could only ever dream of.
http://www.bushveldminerals.com/wp-content/uploads/2018/05/Bushveld-Minerals_-Vanadium-101-final...pdf
The majority of the vanadium market is talking about the pending VRFB market growth driving and expanding future vanadium demand, but it doesn’t yet appreciate how that will all work. Some are discussing the merits of the VRFB industry supporting long term prices by increasing demand at times when demand in the steel sector falls away through cycular changes in the market. The theory being that lower vanadium prices will drive greater VRFB take up, thus increasing demand for vanadium and pushing up prices once more. Great.
What BMN are implementing and they are currently the only ones outside of China really doing so, is they are fundamentally protecting themselves and their assets, from that market. With a fully integrated model they are effectively the producer and the customer all in one basket. They can tailor their production to whichever need is greatest, be it for profit or for greater market share. They can bring on new production through their early mover status, which right now is delivering market advantage and thus significant cash flows anyway, but is supported by BMN’s geographical location and thus their ability to tap available local brown field processing capacity. For a company with access to over 55 million tons of vanadium reserves with a sizeable increase due to come from Vametco’s neighbour, the Brits project, their ability to expand their horizons is as good as assured.
What I have discussed here may not be directly communicated by the company but it is the reality of the situation. BMN have been visionary beyond their ability to see a deficit in the vanadium market, with the fully integrated model offering an investment play that is, in my opinion, as good as it gets. The fact that it is based in SA is actually, believe it or not, all the better, because it enables the company to fast track its plans and realise its dominant position in the market through those brown field opportunities, an advantage no other vanadium region can currently boast and it allows localised access to the largest utility in Africa. Furthermore, the driver of this energy storage market is not money that will be curtailed by cyclical trends because it is sourced from world bodies dedicated to answering the pressures brought about by climate change. The World Bank’s recent $1 billion targeted commitment towards battery storage is a fine example of this, and it certainly won’t be the last.