@JMC69 - I'd like to remind you of your response to the challenge I issued back in June to improve the quality of the board by having a crack at working out the Q2 numbers. Respect my friend:
I'm willing to risk making a fool of myself if nobody minds.
Looking at it fairly crudely, in March production was 270mtv of which 190mtv was shipped to the US. Using the same ratio as a very rough guide that would suggest an extremely strong April of 207mtv shipped suggesting monthly production of 293mtv. May's 133mtv so far would suggest a minimum of 189mtv with possibly more to come that hasn't yet been recorded. That comes to a theoretical minimum of 752mtv for the quarter excluding the last five weeks which we've yet to see. In other words it should be a very strong Q2.
. It was also nice to get confirmation that the Eskom Battery trial is progressing seemingly without further complication.
All in all I thought this was a brilliant set of Q2 updates. The improved financials jumped on by the broker updates and already highlighted on the board are of course great news but for me the overriding takeaway is that things are coming together. The ****ups and own goals seem to be abating and we appear (under the new management structure) to be making sustainable progress which builds incrementally on small but important quality improvements. Evolution rather than revolution always gets you further in the end. Well done Fortune and Team a great update.
Elliot interested parties can find some updated slides at the usual dropbox address.
Firstly it’s worth noting that the Q2 update was both timely and expansive. Picking off the highlights for me; Q2 Production UP but not just up, we need to look at just how effective this Excellence programme has been. Because we know the March figure was 270MtV we can work out the monthly production rate for the last 4 months and also for the preceding 5 months, a big enough timescale to be meaningful (but exclude the down tie for last year industrial action) That lets us work out that we have actually seen a 22% increase in production, A truly remarkable feat. I was also most comforted to read “Improvements in mine production scheduling and vanadium grade in kiln feed continues, together with an increase in the hourly feed rate to the kiln and recovery” You might recall I posted on here some time back that based on the data @Paludina so kindly provides for us on shipping, that there had most likely been an improvement in Kiln throughput and recovery. I deduced this by tweaking some of the inputs to the Plant production model I have and maintain. Today’s data was within 9MtV (I over estimated at 751MtV) for production in the Quarter. I have effected another very minor adjustment. But the good news isn’t my model it is the fantastic improvements at Vametco.
Next and this is the bit I was most pleased to read. “Successfully completed the wage and benefits negotiations with the Association of Minerals Workers and Construction Union ("AMCU") for the 3-year period 1 July 2019 to 20 June 2022.” This is brilliant news and should set us up for a sustained period of consistent uninterrupted production. It will also form a blueprint for Vanchem with the unions when that completes.
As far as Vanchem is concerned, I don’t think many of us were expecting completion on this much before end of October so confirmation of that is most welcome. As is confirmation that the ELIZ Electrolyte Plant EIA has completed public consultation and is on schedule for completion in 2019. Personally I don’t see construction of the Electrolyte Plant as being a particularly big or complex construction project. The chemical processing plant is pretty much off the shelf and it is a very simple process. I would say 3 month to build and maybe 3-6 to commission and validate. Remember we can also potentially make electrolyte at Vanchem going forward. Another highlight for me was that we have already made and supplied electrolyte from Vametco produced starting materials. Now that is a real positive and should make the validation and commissioning at ELIZ more straight forward. We knew about the rental contracts, but I liked Fortunes comments which made some clarification for me. “In addition, we delivered our first vanadium battery rental product, which was developed in conjunction with and sold by Avalon Battery Corporation” Battery rental product implies to me it is our Vanadium.
@Faramog, I think we are experiencing our antepenultimate or possibly pre-antepenultimate ( our antepenultimate will then be very brief) visit to the twenties. So it won't be long before we can safely think about that Party.
vijay31077 - try this link, it will help you to sort out and be more consistent with your inaccurate use of determiners, which I notice is lacking when you are being insulting but is a jumble the rest of the time. Particularly pay attention to when to use (and when not to use) the definite article and/or the indefinite article. This may help to establish a more believable posting style. Of course if you are simply a fan of Jimmy Perry and David Croft then can we graduate to aping Captain Mainwaring now please as I find his idiosyncrasies less grinding. You stupid boy.
not sure it works like that. They make their money from volume of trades rarely from margin. Also, they had pre-sold those Miton shares shorting against them as I explained before. I still see the next range taking us up to 63(ish)p.