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I found this recent newsletter article. It is not well written in my opinion, but the author states that he thinks Bushveld has better long term growth prospects than Largo and that he owns both.
Looks like we're getting some (small) attention stateside!
https://www.truevineinvestments.com/truevineletter/2019/2/26/largo-resources-is-poised-for-a-new-move-higher
Reading between the lines it sounds to me as if his relationship with Australian Vanadium has soured, and this article is a subtle or not-so-subtle jab at his perceived need for his services.
Also notice this: "This is the major reason we reduced our investment in Vanadium in late 2018 until recently and moved it to hard rock lithium. We intend to maintain a reasonable position as the rewards for any new entrant that is successful will be substantial. I look at it more as balancing risk while maintaining exposure."
His previous Twitter disclosures showed that he only owned AVL as far as vanadium was concerned.
But for us, maybe it's not as bleak as the title lets on? Here's an interesting paragraph:
"Hot-rolled coil prices are now trading at a rare discount to steel rebar, reflecting market expectations that demand of the metal used to reinforce concrete and in construction will rise because of stimulus spending by Beijing. "
An article on Chinese steel mills from Reuters:
https://uk.reuters.com/article/us-china-steel-autos-analysis/hot-rolled-mess-chinas-steelmakers-hit-the-skids-as-car-sales-slow-idUKKCN1QG0M1
Just noticed our favourite analyst Chris Ecclestone has a take. Haven't had a chance to read it yet.
http://hallgartenco.com/file.php?path=Mining&filename=Largo_Feb2019.pdf
What is our relative value to Largo these days? We used to be massively undervalued by comparison, is that still true?
Granted, I know we have Bushveld Energy and Lemur
I would not call this a bit of a rise. This kind of volatility is pretty incredible in my view, especially without any news.
it's interesting they would mention Vanadium. It's so small relative to the other metals in that sentence.
How do you know there were c0.8m short sells today?
I wonder how well this chart correlates with Vanadium prices? I can't line it up very well with the charts on Vanadiumprice.com because of the different time scales
https://pbs.twimg.com/media/DzlCk1cUUAAG38y.jpg
probably a bug? Wasn't 121 a few weeks back?
I used to see "Short Holdings" reports for Bushveld's US OTC ticker show up as part of the day's news on Vanadiumprice.com and the number of shares shorted there was always incredibly small. Granted, the short holdings would be much smaller than the longs. But if you look at the average daily volume it doesn't do much (average 15k shares). The ticker is BSHVF.
Granted this is the average daily volume, and some days may have larger trades than others.
I'm not sure who mentioned OTC, but this stands for "over-the-counter" and may have been a reference to shares not traded on an exchange rather than specifically on the US OTC market.
Sorry Clark but I don't know which article you're referring to. The Reuters article in my aptly named thread appears to me to be inconclusive but lays out several scenarios and the article's last paragraph is:
"Perhaps Chinese steel mills find a price of more than $100 a tonne for iron ore too rich, which may suggest that their preferred option may be to start using more lower-quality ore."
So, it appears the expert authoring the article is unsure what will happen. Therefore, I'm not sure why you say with such confidence that BHP and Rio will fill the shortfall.
Much like the article's author, I haven't reached a conclusion as to what's going to happen, but my intuition is its something important for us to keep an eye on.
Maybe it winds up being a positive for us, a negative, or neutral. I just think it could be important -- in my opinion more so than, for example, the latest chart patterns that seem to clog much of the board's discussion.
For anyone interested, here's a Reuters article on how the Vale disaster may change China's iron ore mix:
https://uk.reuters.com/article/column-russell-ironore-china/rpt-column-vale-iron-ore-dam-disaster-may-force-china-steel-mills-to-change-russell-idUKL3N20727G
"I also didnt know how many shares I had because of buying since 10p and higher" seems a curious thing to say?
I agree Pdub, it's overall a reassuring video and I was happy to have found it, watched it, and hopefully the rest of the board enjoys it as well if they have not previously seen it.
I don't view it as "negativity," I'm just trying to explore all angles of the investment.
At one point in the video, the moderator states that Exxon-Mobile has announced a project to extract more Vanadium from their oil refinery operations. I could not find anything else on this on Google though or any sense of how material this is to the market.
Yes, I would think it would give an advantage to every major iron ore producer who is not name "Vale" and not operating in Brazil
Apologies if this has already been posted. There is so much activity here sometimes its hard to keep up.
It's just a bunch of Canadian-listed 'wannabes' but maybe its still of interest:
https://www.youtube.com/watch?v=SEsx6wPCQiM