So ‘sell in May and go away’ has proved a truism (of sorts) for...

So ‘sell in May and go away’ has proved a truism (of sorts) for Bushveld Minerals over in South Africa …
Up until this month the longtime company had four major assets… “ Bushveld Minerals’ vanadium division consists of four core assets: the Vametco mine and processing facility; the Vanchem processing facility; the mokopane vanadium mine; and the Belco production plant.” [ref]
But then ‘winter’ came to vanadium prices and Bishveld became mired in debt and agreed to sell half of the Vanchem processing facility to South African company, Southern Point Resources ….. but SPR neglected to come through with the money then in December when poor old Bushveld was truly desperate it offered a £12m loan … and even then dribbled this out until March and then said it couldn’t finish the half purchase deal because it needed court approval …at some time one day in the future..
The upshot?
Bushveld has now agreed to sell all of Vanchem to SPR and so SPR has loaned the struggling company another £3m (apparently on expectations the court will approve the sale).
Shareholders have to approve the sale too, but there doesn’t seem to be many  alternatives out there for Bushveld which seems to mine and process lower grade vanadium for the steel industry although it also has a share in VFB company, CellCube (also for sale).
So is it slowly ‘going away’?

Read about the Bushveld predicament as of 07/05/24 here: https://www.mining.com/bushveld-minerals-to-sell-vanchem-unit-to-ease-financial-woes/

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And that big canadian-listed Brazil-based vanadium producer, Largo?
About a week ago it said it’s staying around and wanting (like AVL??) to target the VFB market..

And it says its batteries will be cheaper than lithium BESSEs!
04/05/24 https://www.mining.com/web/largo-resources-taps-brazil-in-vanadium-battery-push/

Spoiler : Largo VFB Push

Largo Resources taps Brazil in vanadium battery push

Reuters | May 4, 2021 | 12:20 pm Battery Metals Latin America Vanadium

Credit: Largo Resources Ltd.

US-based Largo Clean Energy is preparing to produce batteries using vanadium extracted from northeastern Brazil, the company’s chief executive said on Tuesday, in a bid to capture a chunk of the fast-growing renewable energy storage market.

The company, whose parent Largo Resources Ltd is mining the elemental metal in the Brazilian state of Bahia, is in advanced negotiations with potential clients, said Paulo Misk, CEO of the Largo group.
He says the firm’s vanadium batteries are lower cost and last longer than rival solutions, such as lithium.

“Our battery isn’t competing with car batteries,” he said in a video interview. “Our battery is meant to make renewable energy, particularly solar and wind, viable in the sense of making up 100% of the energy matrix.”

While vanadium battery technology is not new, it is widely viewed as an up-and-coming industrial solution for renewable energy providers looking to scale up.

The energy storage market grew at a record pace in 2020, driven by the Asia-Pacific region, according to a report from Wood Mackenzie. The consultancy sees the Americas region becoming the industry’s center by 2025, driven by activity in the United States.

The company should begin delivering its first vanadium batteries next year and is in conversations with potential clients in Europe, Australia and Africa, Misk said.

Largo Clean Energy was created in 2020 after Largo Resources acquired vanadium battery patents and hired specialists experienced with the technology.
Misk said Largo’s vanadium batteries will have an effective life of 20 years, versus seven years for many lithium batteries. The company will offer leasing contracts to clients, in order to attend to shorter term commercial needs.
(By Luciano Costa and Gram Slattery; Editing by Steve Orlofsky)

Largo announced it was joineing  forces with Stryten energy , a major US power supplier on  March 18 of this year;
https://financialpost.com/pmn/busin...o-north-american-vanadium-flow-battery-market

And FWIW to anyone outhere,  soon after, on April 2, the vice president of Stryten’s essential power division published this in depth articleon vanadium batteries : https://www.powermag.com/battery-energy-storage-systems-solutions-for-shorter-and-longer-durations/

And more
https://www.linkedin.com/posts/stry...yten-energy-activity-7192145905179840512-uKrn

Stryten Energy
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The future of energy storage includes multiple battery chemistries. Stryten Energy is a unique solution provider for advanced lead, lithium and vanadium. Learn more. https://lnkd.in/en2YR697 #essentialpower #energystorage #mightystryten

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