RE: BRR Interview10 Oct 2018 10:59
Nice summary by Fortune at the end of the interview. Very positive!
"Finally where is the focus of BMN?"
"V remains the story. The first focus is making sure that Vametco which we now consolidate as you can see is a strong cash generator. We want to make sure that Vametco is an efficient operation. Efficient meaning it does realise its potential to be truly low cost producer. It currently is a low cost producer but it can get even lower than that. Key to that is achieving or executing successfully on our expansion project taking Vametco to 5000 tons V pa would not only create additional revenues and profits for Vametco but it also improves Vametco's cash position significantly, so that's quite important. Beyond the 5000 tons we've also mentioned that we're looking at growth beyond that and a brown field asset remains an important part of that strategy. We continue to look for opportunities that allow us to increase our production multiple times, quickly and at a fraction of the cost of doing this on a green field basis. That has not changed. We've said we want to be north of 10000 tons of vanadium producer per year. The market opportunity is there and we think that that opportunity is particularly suited for primary producers like BMN. So that's the growth story in terms of what we've termed the horizontal growth. That allows the platform to then do the very exciting things that we talk about in the energy space as Mikhail explained, which is to secure a significant portion of the energy storage market, which not only strengthens the demand profile of vanadium but in its own right it's a very attractive commercial opportunity for us. That's delivering what we've been always taking about which is a substantial low cost vertically integrated V platform."
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