Member Info for mogwhy

There's no mention of energy storage in these 3 projects but I find it inconceivable that there won't be if BE have ownership.
So, I'll include these projects in the major project list and assume that they will each have a 4 hour duration VRFB.

Here's a more reputable source. this is from August 2021.

https://bit.ly/3G5BE0s

The Asianmetal numbers should be taken with a very large pinch of salt.
For example, let's take the benchmark FV 80% US data.
Asianmetal says it's down 5.5% over 360 days where in fact it was $24.70 a year ago compared to the current price of $32.75 which is an increase of 32%.

Another 200 MWh project in Guangdong, China added to the list.
That makes at least 6 major projects under construction in China alone which will require 6,200 tonnes of vanadium.

Utility scale (40 MWh+) planned VRFB projects (5 tonnes of V per MWh)

1,000 MWh----- China - Jiangsu TianWan nuclear station (5,000 tonnes)
1,000 MWh----- China - Jiangsu offshore wind integration (5,000 tonnes)
---800 MWh---- China - Ningxia energy storage power station (4,000 tonnes)
---800 MWh---- China - Shijiazhuang (4,000 tonnes)
---500 MWh---- China - Hubei Zaoyang Ph 2 (VRB Energy) (2,500 tonnes)
---500 MWh---- China - Hubei Zaoyang (VRB Energy & Pingfan) (2,500 t)
---500 MWh---- Australia - VRB Energy (2,500 tonnes)
---400 MWh---- China - Dalian (Rongke/UET) stage 2 (2,000 tonnes)
---400 MWh---- China - Yancheng (Shanghai Electric Group) (2,000 tonnes)
---400 MWh---- China - Wuhan (2,000 tonnes)
---400 MWh---- China - Hubei (Pueng/Pingfan/Gaoxin project (2,000 tonnes)
---300 MWh---- Australia - Pangea, Port Augusta (CellCube) (1,500 tonnes)
---200 MWh---- China - Guangdong Nuclear Power Station (1,000 tonnes)
---200 MWh---- China - VRB Energy project TBA H1 2021 (1,000 tonnes)
---180 MWh---- Bushveld Minerals self generation project (900 tonnes)
---128 MWh---- USA - Salinas Green Valley project (640 tonnes)
-----80 MWh---- USA - Gonzales Bodega project (400 tonnes)
-----60 MWh---- China - Hongyanhe, Dalian (Rongke) (300 tonnes)
-----51 MWh--- Japan - Abira Town Hokkaido (Sumitomo Elec) (255 tonnes)
-----40 MWh---- China - Tuoshan, Dalian (Rongke) (200 tonnes)
-----40 MWh---- China - Lejia, Dalian (Rongke) (200 tonnes)
-------?----------- China - VRB Energy / Hanloon Energy power station

One off total of 39,895 tonnes of vanadium required (over next 1-3 years ?)
Global vanadium production in 2020 - 114,000 tonnes

The roof should have gone on last week.

ID----TASK NAME----------------------------DURATION---START-----FINISH
337 COMMENCEMENT OF THE WORKS-- 346 days 27 05 21 - 06 11 22
339 CONSTRUCTION-------------------------- 253 days 27 05 21 - 19 06 22
341 ELIDZ - Construction Period--------- 142.5 days 27 05 21 - 20 12 21
347 Install final section of Roof ------------------1 wk 13 11 21 - 17 11 21
350 Civil Completion----------------------------- 0 days 21 12 21 - 21 12 21

LB21 is correct. Leasing rates will move up and down with the vanadium price because BMN get paid whatever the current market rate is.

We'll soon find out if Duferco start selling because they're only 0.3% away from the 5% threshold for reporting. That's 3.9m shares before we see a TR-1.

And there we have it. Confirmation that Duferco sold their entire previous shareholding.

Uksteveg - the company doesn't need to RNS the TVR again as it's already informed the market on 8th Nov when the shares were issued.
There's no requirement to publish an RNS after the shares are admitted to AIM for trading. AIM is a trading platform for the shares and doesn't affect how many are in issue.

Uksteveg - the onus is on Duferco to send a TR-1 to the company. The company will then issue an RNS.

BMN issued an RNS on 8th Nov regarding the issue of the shares to Duferco and the new total number of shares after the issue. There's no further requirement for BMN to do anything unless the shares were not issued.

2 new USA projects added.
https://bit.ly/3onErLa

Utility scale (40 MWh+) planned VRFB projects (5 tonnes of V per MWh)

1,000 MWh------ China - Jiangsu TianWan nuclear station (5,000 tonnes)
1,000 MWh------ China - Jiangsu offshore wind integration (5,000 tonnes)
---800 MWh----- China - Ningxia energy storage power station (4,000 tonnes)
---800 MWh----- China - Shijiazhuang (4,000 tonnes)
---500 MWh----- China - Hubei Zaoyang Ph 2 (VRB Energy) (2,500 tonnes)
---500 MWh----- China - Hubei Zaoyang (VRB Energy & Pingfan) (2,500 t)
---500 MWh----- Australia - VRB Energy (2,500 tonnes)
---400 MWh----- China - Dalian (Rongke/UET) stage 2 (2,000 tonnes)
---400 MWh----- China - Yancheng (Shanghai Electric Group) (2,000 tonnes)
---400 MWh----- China - Wuhan (2,000 tonnes)
---400 MWh----- China - Hubei (Pueng/Pingfan/Gaoxin project (2,000 tonnes)
---300 MWh----- Australia - Pangea, Port Augusta (CellCube) (1,500 tonnes)
---200 MWh----- China - VRB Energy project TBA H1 2021 (1,000 tonnes)
---180 MWh------Bushveld Minerals self generation project (900 tonnes)
---128 MWh------USA - Salinas Green Valley project (640 tonnes)
-----80 MWh----- USA - Gonzales Bodega project (400 tonnes)
-----60 MWh----- China - Hongyanhe, Dalian (Rongke) (300 tonnes)
-----51 MWh-----Japan - Abira Town Hokkaido (Sumitomo Elec) (255 tonnes)
-----40 MWh----- China - Tuoshan, Dalian (Rongke) (200 tonnes)
-----40 MWh----- China - Lejia, Dalian (Rongke) (200 tonnes)
-------?------------ China - VRB Energy / Hanloon Energy power station

One off total of 38,895 tonnes of vanadium required (over next 1-3 years ?)
Global vanadium production in 2020 - 114,000 tonnes

HarChris - thanks for confirming that only positive views are permitted on this BB.

Just found an error in my V tracking spreadsheet.
The actual average is $34.6 for the year starting Dec 1 2020.
That gives a realised price for BMN of approx. $32.2

The weaker Rand is good news for costs and if stays at the current level it will average 14.7 for the year. If V prices remain as they are for the rest of the year then the average for the year will be $36.9 after taking the 1 month lag into account. That should make BMN about breakeven for the full year.
I'm still bearish in the short term with a possible cash raise and the Duferco overhang to work through but all the building blocks are there for the future.

Not only was the dilution a bit more than expected, but they also paid out in $2.2m in cash on Duferco's behalf which I suspect was a surprise to most of us.
That didn't help the strengthen the balance sheet.
I wonder if ARC's end of year cash at bank projection of $8.5m took that into account.
I doubt it.
ARC was also assuming a realised price of $34 for 2021 and so far BMN have achieved $29.
It certainly makes a cash raise more likely.

This looks to be a different project to the Eskom BESS packages because I don't think any of those were situated in the Northern Cape.

cindercone - the contested mining right application on Portion 2 of Uitvalgrond was RNS'd in November 2015. This dispute has been discussed on this board before, about 2 years ago.

compos - the Uitvalgrond dispute has not been settled. It's been going on for over 20 years. Please provide a link to show that it's settled. I would be very happy if you can prove me wrong.

Codejunkie - if you don't want to know about all this, then just filter me and bury your head in the sand.

https://twitter.com/insightfactor/status/1452604584560664577

https://twitter.com/insightfactor/status/1452606393333260291