Member Info for mogwhy

jaf - not true. A decent broker will get you better than mid price.
Most people do it online and accept what's offered.

SuperRoty, I think whether or not Talaxis take up their next option will depend entirely on the result of the BFS. That might sound obvious, but their next move is binary. As an investment proposition, it depends on how you view the odds.

EXW China APT now showing positive on all timeframes for the first time in a year.
No doubt the higher cost players are being forced out of the market.
http://www.asianmetal.com/TungstenPrice/Tungsten.html

Another one in China. 40MWh.
https://twitter.com/VanitecVanadium/status/1201576952567611393

Unfortunately that website doesn't appear to be anywhere near up to date.

Thanks Alfa - updated list with errors corrected.

1000MWh per year Saudi Arabia - Gigawattfactory (5,000 tonnes per year)
200MW/1,000MWh China - Jiangsu (5,000 tonnes)
200MW/800MWh China - Dalian (4,000 tonnes)
200MW/800MWh South Africa - Eskom BESS phase 1 (4,000 tonnes)
160MW/640MWh South Africa - Eskom BESS phase 2 (3,200 tonnes)
100MW/500MWh China - Hubei Zaoyang Phase 2 (2,500 tonnes)
50MW/200MWh Australia - Port Augusta (CellCube) (1,000 tonnes)
10MW/40MWh China - Hubei Zaoyang Phase 1 (200 tonnes)

Total of 24,900 tonnes of vanadium

Typo - last line should read 200 tonnes.

It would be interesting to put together a list of the larger potential VRFB projects out there to gauge the potential requirement for vanadium.
Unless someone knows of such a list, I'll kick it off.
Add any others that you know about over let's say 20MWh (which is equal to 100 tonnes of V).

1000MWh per year Saudi Arabia - Gigawattfactory (5,000 tonnes pa)
200MW/800MWh China - Dalian (4,500 tonnes)
200MW/800MWh South Africa - Eskom BESS phase 1 (4,500 tonnes)
160MW/640MWh South Africa - Eskom BESS phase 2 (3,200 tonnes)
50MW/200MWh Australia - Port Augusta (CellCube) (1,000 tonnes)
10MW/40MWh China - Hubei Zaoyang (100 tonnes)

Kalan, I think you will be pleasantly surprised by the level of Q1 production. Note that the RNS says "W expects production to build substantially in Q1 2020 with a full three months of production".
I would hope that we get somewhere near 100 tonnes in January.
That would be less than 50% of the plants design capacity now that we're running 24 hour shifts.
We'll find out in about 4 weeks.

jaf - thanks for reminding us that the boxes are getting ticked off, albeit later than expected. Progress is being made towards making WRES a mid-tier mining company.

For any potential new investors looking in who value a boards financial commitment, here is a list of Michael Mastermans share buys over the last 7 years since the sale of AIO to WRES.
June 2012 £50k
Jan 2013 £100k
July 2013 £50k
May 2014 £180k
Nov 2014 £8k
Jan 2015 £152k
June 2015 £140k
Nov 2015 £75k
Mar 2016 £75k
Aug 2016 £100k
Nov 2016 £100k
Mar 2017 £150k
Jun 2017 £50k
Oct 2017 £100k
July 2018 £24k
Aug 2019 £41k

and Byron Pirolas' share buying history
May 2009 £160k
Dec 2011 £100k
June 2012 £100k
Nov 2012 £50k
July 2013 £50k
Dec 2013 £50k
July 2014 £100k
Dec 2014 £10k
Jan 2015 £50k
Mar 2015 £50k
June 2015 £160k
Aug 2016 £100k
June 2017 £50k

Just for you REDDINGTONR :-)

Q1 - Audit for compliance of E5.3m grant conditions
Q1 - Regua development plan
Q1 - La Parrilla January production update
Q1 - E5.3m euro grant paid
Q1 - Regua capex finance announced - no raise required
Q1 - Transfer of old concentrator to Regua
H1 - Tarouca exploration licence renewal
H1 - Regua JORC update
H1 - La Parrilla Q1 production and sales update
H1 - Regua FID
H1 - Refinancing of the BlackRock debt
H1 - Regua ore mining contract
H1 - Regua concentrator commissioned
H1 - Mining at Regua starts
H1 - WRES announces cash flow positive
H1 - La Parrilla 200 tonnes per month production achieved
H1 - Initial sales of tourmaline announced
H1 - Regua production starts with first ore into concentrator
H2 - EIA approval for T3.5 expansion at La Parrilla
H2 - Sao Martinho trial mine licence granted
H2 - Limited drilling on Sao Martinho to define geology
H2 - Gold JORC update
H2 - Sao Martinho joint venture
H2 - La Parrilla and Regua combined production hits 4,000 tonnes per annum run rate

Vanadium: One of the paradoxes of the VRB evolution is that at $30 per lb, the battery developers were complaining they needed $10 per lb Vanadium Pentoxide to be viable and yet with the metal back around $6-7 per lb there is no more sign of them snapping up supplies (or potential producing assets) than there was at its peak. The market has obsessed about what the Chinese “must do” about V percentages in rebar alloys and the reality is that the Chinese don’t need to do anything. They have brutally manipulated this market with their on-again off-again pronouncements on this subject. So we have an infernal duopoly of the Chinese managing well, playing Whackamole) with the top of the market and Glencore furiously attempting to underpin the bottom end. The goldilocks number for V2O5 prices is somewhere between $12-15 per lb and frankly VRB manufacturers will need to cut their coat to this particular cloth and stop their whining… We expect V2O5 prices to rise above $10 and maybe as high as $12 during 2020.

Jaffaman - the RNS clearly states that "higher tin grades currently driving higher than expected tin production"

Just for fun, if we assume that APT rises to $300/mtu and tin goes to $20,000/t by the end of this year, then total revenue for 2021 rises to $105m.
All for a current market cap of about £20m.

Now that we know about the increase in tin production, we can revise the projected revenue numbers for full production at 2,700 tonnes per year.
At current commodity prices this gives us revenue of $61m per annum or $5m per month.
At current exchange rates, that should translate into ebitda in the region of £2.2m per month or £26m per annum.
If we get Regua up and running at full production by the end of the year, then we get total revenue of $85m.

Initial revenues.
21.4 tonnes of tungsten concentrate = $411,000
7.9 tonnes of tin concentrate = $70,000

I think Bella meant this company.
https://energystoragesolutions.com/

m-i-b we may have used the forthcoming grant as collateral against a loan, but it will still be cash in the bank because the E3m term loan was over 15 months.
It was at a very low interest rate too of 1.75% pa.

Payment of the E5.3m grant which is equal to approximately a quarter of our current market cap.
Cash in the bank to do with what we want.
Add on the fully drawn $5m loan and that's a total cash balance equal to 40% of our market cap.