First post for CellCube.. What’s going to happen to CellCube - a...

First post for CellCube..

What’s going to happen to CellCube - a  long term vanadium flow battery associate of AVL since back in the mists of time and still one of CellCube’s “most important partners”?

In the spoiler;

Spoiler : A snippet  of CellCube Mists of Time history

One of the earliest gaps in the ‘mist’I’ve found relating to the Austrian-based company is February 24,  2014 via a story here from https://www.greentechmedia.com/articles/read/the-german-american-vanadium-flow-battery-connection
.. “Germany’s Gildemeister, a century-old industrial machine tools maker with a majority stake in Cellstrom, the Austrian-based maker of the CellCube vanadium redox flow battery system.…”
.. That was the description of ownership from GreenTech Media.

FWIW GTM was bought by Wood Mackenzie in 2016, and of course,  back in those days  Australian Vanadium was called Yellow Rock Resources….

So things change.

After the mists of time had done its’ stuff (up to now) a ‘big name’  Vanadium producer over in South Africa - Bushveld - ended up owning all of Cell Cube.
….. and then last year there was a move by that Bushveld crew to put  Cell Cube into the primary ownership of London-listed, Mustang Energy

(led by Dean Gallegos who was briefly a director at AVL [ref])​

​

— Only that  went pear-shaped, and Bushveld’s been in quite a difficult financial position lately.

- Last  November 20 it announced it would sell Cell Cube … but not to Mustang; https://www.miningmx.com/news/ferro...lcube-shares-as-embarks-on-strategy-overhaul/

And the same report says it had received a crucial financial bail out;

“In the third quarter Bushveld received just over $8m in working capital as part of $70m to $77.5m recapitalisation by investment firm, Southern Point Resources. Southern Point Resources will take a significant stake in the business in return.​

Critical to this process, however, is agreeing a new conversion price for convertible notes with Orion Mine Finance, one of Bushveld’s lenders, initially priced at 6 pence/share. Coltman said he was hopeful this would be finalised before the December 21 deadline… “​

… So Bushveld spent Christmas in a bit of hot water, despite that it  was given an extension to that deadline until the end of this month;

..Bushveld's existing convertible loan notes have been extended to January 31, 2024, and the convertible debt obligations of approximately $46.9 million have been refinanced.”..​

https://www.miningreview.com/batter...e loan notes,loan, and a supplemental royalty.

So there’s value in Cell Cube to a company that clearly wants to cash in on that asset?

Who will buy?
Are we one of it’s most important Australian partners?

In November 2022 it  signed a deal with Eastern states-based North Harbour Clean Energy to build a battery factory https://www.cellcube.com/australia-...ty-and-purchase-of-4mw-16mwh-vrfb-lighthou-2/​

But only last June @Azzz shared a Twitter link in which CellCube maintained  VSUN/AVL was “one of our most important Australian partners”


….. So whatever happens next in regards ownership and factory sites,  I guess the AVL team are maintaining a close interest?

Cheers