Meerkat is seemingly frustrated about the current SP, whereas I'm not. Do you think PB and TNG actually want the SP to lift before their BFS is announced, probably in Q1, 2015? I personally don't, as I want to accumulate more in the meantime. The Directors appear to be doing so themselves.
The tone I've picked up from the latest presentation / comments, is that Mt. Peake is more or less there or thereabouts already, but they are happy to wait for the Vanadium price to pick up so they are in a better position to bargain when those MOU's become binding agreements?
I didn't particularly like hearing that news, as off take agreements should have clauses in them in case of falling / rising prices regardless, so there shouldn't be any need to wait (higher profits v becoming a producer asap?).
I sense some are bothered by their seemingly slow progress. I prefer to think of it as very methodical, and that the SP will fly, as and when TNG actually want it to.
They have a lot of things on their plate already with the demerger, so, with the further TIVAN work, I can't see the SP doing anything other than go sideways until the end of the year.
Unless you're a trader, I don't see anything wrong with that SP action (or lack of). We know the demand is there for the Vanadium already, for the steel industry primarily. I agree, the VRB's are a potential new source of demand, but a long way off imho. The V demand will always likely to be primarily for the steel industry.
One concern about TNG seemingly being "happy to wait" is that there are other potential suppliers coming on to the scene. If TON and SYR get into production for example, that's a hell of a lot of Vanadium hitting the market. Would it be more pertinent for TNG to get their skates on and into production ASAP?
I am happy with the project timing, it would be nice if they pressed their foot on the accelerator a little more, but it's a good opportunity to get in sub 20's for a while.
Your learned thoughts are appreciated!
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