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Excellent, great feedback from the meeting many thanks.

AGM was scheduled for 11am, did it only just complete?

Were all resolutions passed (no RNS confirming yet?)

Another fantastic update and one that was delivered as promised by the end of Q2.

For those who wish to seize on the 210 years of resources angle to justify a viewpoint that this adds little to the company, consider that:

1. Any proven resource adds to the overall valuation of the company in any takeover situation. What you may consider meaningless now can add significantly to any per-share buyout price.
2. It has been previously commented that Brits resources could be used in tandem with Vametco to reduce mining costs which when implemented is an immediate improvement to the bottom line. That's near to medium term, not in 150 years time.
3. I am sure Alfa used the 210 years comment to purely emphasise that we are not going to run out of resources any time soon based on the current production level. However consider that if material is mined not just for Vametco production but production elsewhere whether Vanchem (whilst waiting for or complementary to Mokopane) or third party (the company has stated they have given consideration to ore offtake agreements) then that 210 years figure will reduce potentially to something much more comprehensible to medium to long term investors. It will also reduce if / when Vametco is further upgraded beyond 3,400 tpaV.
4. Vametco would have to be replaced long before the resource is extracted so there are no fears of running out of material.
5. At present no-one has any real idea how much material will be required in future to meet VRFB demands but the sheer scale of already announced projects is looking more and more like "as much as you have". This RNS tells the world (again) that if you need it, you know where to come.

So in short, this adds significant value and is far from a "jam in 150 years" RNS!

Swerves out of interest what are you expecting to come out of the AGM to boost the price, other than the standard corporate "all resolutions were passed"?

"Plenty on the go at our Uis Tin Mine. Commissioning of the processing plant at Uis has now commenced and is being conducted in a phased manner. Commissioning will be followed by a production ramp up of four months. The goal is to achieve design capacity before the end of Q4 2019"

https://twitter.com/Afritin_Mining/status/1140918939247140864

Some more on Lemur and clean coal technologies.

From the Lemur Q4 2018 update:

The plant will utilize Circulating Fluidized Bed Combustion ("CFB") technology and Electrostatic Precipitators ("ESP") will be equipped for emission control.

"The circulating fluidized bed (CFB) is a developing technology for coal combustion to achieve lower emission of pollutants. By using this technology, up to 95% of pollutants can be absorbed before being emitted to the atmosphere."

https://en.wikipedia.org/wiki/Circulating_fluidized_bed

"An electrostatic precipitator (ESP) is a filtration device that removes fine particles, like dust and smoke, from a flowing gas using the force of an induced electrostatic charge minimally impeding the flow of gases through the unit."

https://en.wikipedia.org/wiki/Electrostatic_precipitator

vauch Q2 for Lemur should be released next month based on previous timescales. The Social and Environmental Impact Assessment was due to be completed in Q2 2019, so hopefully we will hear more on that at least.

As a reminder for readers, the Q1 update said:

Lemur has signed a Project Preparation Finance (“PPF”) facility agreement with the Development Bank of Southern Africa (“DBSA”) for an amount of US$1 million.

The facility will assist in funding the completion of the project development activities and advisory services for the Imaloto Project, thereby enabling Lemur to reach financial close. (footnote was "Financial close refers to the date on which Lemur secures funding to implement the Imaloto Project pursuant to all finance documents being entered into and all the conditions precedent being fulfilled to the satisfaction of the funders."

Review and sign-off of the power bankable feasibility study (“BFS”) has been completed by Sinohydro.

Review of opencast mine BFS completed. Optimisation exercise underway to consider the inclusion of underground mining within the development plan.

Engineering, Procurement and Construction (“EPC”) contract negotiations for the power plant are progressing.

Social and Environmental Impact Assessment (“SEIA”) fieldwork ongoing and on track to be completed in Q2 CY2019.
Negotiations with potential lenders are progressing.

OK so a coal station is not going to be as clean as a renewable installation, but let's not get too carried away. This station is being built with all the current clean coal technologies, and Prince Nyati has said "Secondly, we have selected a clean coal technology, which ascribes to some of the highest emission standards in the world. We believe that this will lessen the environmental impact of coal energy generation and also mitigate global climate change,”

Prince has also said "Despite the global push towards increasing renewable energy into the energy mix, renewable energy cannot economically provide the baseload power required to support the industrial development that Madagascar so desperately needs. "

I am not trying to justify a coal project against the renewables juggernaut, just attempting to highlight that although it is a coal station it is being built with emission standards high on the agenda.

carpfisher - to be honest it was an easy view to hold as there was history there to suggest it (the proving of assets for sale). The difference in that instance is that there was the Fortune factor for which there was no precedent available. History now shows you were correct with the Vanadium assets and we wouldn't be where we are today without them. So a great call to have made! Just goes to show that occasionally going against the majority view can be proven correct and I am sure in this instance all long term investors are grateful of the position we find ourselves in - with the best yet to come.

Great post pdub, hope you are coping OK right now.

I just wanted to add Corbine to the list. I do not recall whether Corbine was expert in anything in the sense of qualification or experience, but he was certainly expert in analysing the BMN situation and putting forward little nuggets that really made the reader think.

Personally I would never have invested in those early days without without the contributions of Corbine.

These days we are very lucky to have the technical mix we do on this board and there are many unsung heroes who quietly toil in the background that also have my gratitude for contributing and continuing to make this the best researched board on LSE.

No dubious response from here. When this was last discussed I said the very same thing to bridge parts of UK lines where it is cost and labour intensive to install electrification such as where there are low bridge clearances or passenger numbers do not justify the expense at the end of branch lines.

Excellent, thanks pdub.

About £750, minus any dealing costs.

Based on a price of HK$0.25 x 30,000, with exchange rate (according to Google) of HK$1 = 10p.

Coverage of the recent drilling RNS.

https://ukinvestormagazine.co.uk/afritin-rallies-on-encouraging-uis-venture-test/

Erm is that actually true or has Miningmx got the wrong end of the stick. I see no evidence of BE providing it's own VRFB's to Avalon?

Out of interest how has China solved the problem of enough charging points? For me that is the second biggest stumbling block for UK EV uptake, the first being range which makes the majority of EV's only suitable for inner cities (which is improving).

Charging points are fine for those with their own driveways but it seems no-one has yet come up with a viable solution for retrofitting victorian terraced streets with no drives and no fixed parking bays (and no guarantee of a space outside your house to plug your car into a charger in your front garden).

As communicated by SP Angel recently - there have been 21 fires at LI-ion plants in S Korea.

Unfortunately it make take one of Elons installations to go up in smoke before the majority take notice of the inherent dangers of large scale lithium-ion deployments.

With everything going on this is like trying to ski uphill.

@SquirtyFlower yes it doesn't seem to mention BE supplying the electrolyte. Just a small point, although BE doesn't yet have its own electrolyte in *quantity* it does actually have its own electrolyte with initial concept created at Vametco. Of course large scale will need the new plant to be built or a temporary facility/partner used in the meantime.

However that is not to take anything away from this announcement. Every market has to start somewhere and we now have first mover bragging rights with a working commercial model in active use that will serve as a framework for future deals. All the hard graft and legal work is now done.

In terms of VRFB and the often repeated point about high Vanadium input costs this is huge news and removes one of the major stumbling blocks to large scale VRFB adoption.

At least part of it was to prove the process and supply samples to potential electrolyte customers for analysis/verification of suitability.