# TSL - Titanium Sands



## YOUNG_TRADER (4 April 2008)

Well since PMA changed its name to WVL it seems no thread was created so I'll do the honours,

Windimurra Vanadium Limited (WVL) is a mining company based in Perth, Western Australia and is listed on the Australian Stock Exchange (ASX:WVL). *The Company’s focus is the development of the Windimurra Vanadium Mine, located 600km north east of Perth in WA’s Mid-West region.*

WVL has a strategic alliance and off-take agreement with leading global supply chain manager, *Noble Group Limited*, based in Hong Kong. Noble has agreed to purchase the total vanadium output of the Windimurra mine, at prevailing market prices for the life of the mine.


Originally discovered in 1985, Windimurra contains one of the largest reported proven vanadium Ore Reserves in the world with current mineable *reserves of 79.0 million tonnes at a bulk grade of 0.47% V205 (vanadium pentoxide)*, which will underpin an initial mine life of 20 years at the proposed mining
rate of 3.9mtpa. A total of *148 million tonnes of resources have been modelled at a bulk grade of 0.46%.*

The Windimurra mine was originally built by the Company with a joint venture partner in 1999, and, whilst operating, was the world’s largest primary vanadium mine, gaining recognition as one of the highest-quality sources of vanadium in the world market.

Since 2003, world demand for vanadium and the price of the commodity have increased strongly, *largely driven by growth in Chinese steel production.* Marketing studies commissioned by WVL forecast that vanadium demand will continue to increase through 2015 at a compound annual growth rate of
7.8%.


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## countryboy (4 April 2008)

*Re: WVL - Windimurra Vanadium*

How much is a tonne of vanadium pentoxide sell for? I notice MXR have tennaments all  around this lease which suggests potential for them as well.

More homework I guess!

Cashed up looking for an entry into something that will grow...more homework!


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## YOUNG_TRADER (4 April 2008)

*Re: WVL - Windimurra Vanadium*

Hi Country,

Yeah I've had a bit of interest in Vanadium, mainly from my investments in AXO, ACS and more recently MXR and as you correctly said MXR hold alot of the grounds around WVL, which led me to look at WVL and its operation

Below are some attached pics which shows WVL's position and it also shows Vanadium pricing

More info to come


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## YOUNG_TRADER (4 April 2008)

*Re: WVL - Windimurra Vanadium*

Hmm I thought the top 20 looked really good, I mean they hold almost *90%* then I saw ANZ's name appear and sure enough realised WVL is an Opes stock (its on the Herald Sun list) 

http://windimurra.com.au/top_20_shareholders.6.html

* Top 20 Shareholders as at 19 March 2008 *
No. Shareholder Name                 Total Shares    % Issued 
1 J P MORGAN NOMINEES LIMITED 28,088,332 19.96 
2 HSBC CUSTODY NOMINEES 18,903,174 13.43 
*3 ANZ NOMINEES LIMITED 16,938,739 12.04 *
4 NATIONAL NOMINEES LIMTED 12,682,514 9.01 
5 CITICORP NOMINEES PTY LIMITED 12,164,407 8.64 
6 HSBC CUSTODY NOMINEES LIMIED  5,926,499 4.21 
7 BOND STREET CUSTODIANS 4,423,428 3.14 
8 NOBLE RESOURCES LIMITED 3,728,549 2.65 
9 HSBC CUSTODY NOMINEES LIMITED 3,231,851 2.30 
10 BLACKMORT NOMINEES PTY LTD 3,110,109 2.21 
11 BOND STREET CUSTODIAN LIMITED 2,797,463 1.99 
  12 ZERO NOMINEES PTY LTD 2,725,000 1.94 
13 GEORGE ROBINSON 2,429,286 1.73 
14 TAGORA PTY LTD 1,509,664 1.07 
15 COGENT NOMINEES PTY LIMITED 1,448,954 1.03 
16 BOND STREET CUSTODIANS LIMITED 1,441,413 1.02 
17 BOND STREET CUSTODIANS LIMITED 1,373,298 0.98 
18 DALVIN PTY LTD 866,666 0.62 
19 RBC DEXIA INVESTOR SERVICES AUSTRALIA 800,000 0.57 
*20 ANZ NOMINEES LIMITED 743,549 0.53 *
*  TOTAL 125,332,885 89.07 *


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## countryboy (5 April 2008)

*Re: WVL - Windimurra Vanadium*

Oh ye ha bargain time? Probably not as i dont spend all day attached at the hip to my computer screen. With 1/8th of the stock and 90% holding the whole company this stock could move miles in price. I may put a bid in at 1c hope to get lucky !!


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## YOUNG_TRADER (7 April 2008)

*Re: WVL - Windimurra Vanadium*

Well I was very surprised to not see WVL listed on ANZ's ann list today,

I spoke to my brokers and they said that perhaps those ANZ shares were held by an ANZ fund or on behalf of an Insto or something, its funny lately I've assumed any stock with an ANZ holding is in trouble, but then I should take into account the fact that not every single ANZ holding is Opes Related,


Back to WVL, I found a very good Broker report on them from Euroz on the company's web page http://windimurra.com.au/broker_reports.13.html

It shows just how important Noble is to WVL, what also interesting is that Euroz have a *buy of $3.30* based on a assumed *Vanadium price of $40/kg vs current prices of $80/kg*, makes you wonder what WVL would be worth based on the current Vanadium spot price


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## smurfette (7 April 2008)

*Re: WVL - Windimurra Vanadium*

Hi YT,
That report looks pretty conservative especially since the Vanadium price is double what they're using.

Do you know how the Vanadium price is done, is it spot or spot + contract like Iron Ore.

It looks like Vanadium is heavily linked to the Steel industry so maybe the continued Iron Ore price strength is an indication of whats to come.

Sure makes MXR look good...

Smurfette


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## jbowman101 (13 May 2008)

*Re: WVL - Windimurra Vanadium*

evening all,

what's going on with WVL, some big gains over the last week or so...

can someone give me an insight into why? 

i saw the broker reports but i didn't think they'd have such an impact on the current price....

cheers for any insight

james

p.s. where do i find the market price on vanadium ?


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## J.B.Nimble (14 May 2008)

*Re: WVL - Windimurra Vanadium*

You can get Vanadium prices at www.minormetals.com 

Interesting link to www.Roskill.com report on the Vanadium page - relevant extract below...
Spring 2005 saw vanadium prices rise to all-time record levels. Strong demand from the steel industry in 2004, especially in China and the USA, depletion of large vanadium pentoxide stockpiles and speculative activity, all pushed prices of vanadium pentoxide up to US$27/lb in March 2005, while those of ferrovanadium peaked at US$126/kg in April 2005. Prices at these elevated levels were unsustainable. Vanadium supply increased in 2005, while high prices led to some substitution of ferro-vanadium by ferro-niobium in special steels. The vanadium market remained broadly in balance during 2006, with world steel production continuing to rise, while there was little further substitution by ferro-niobium. World vanadium demand is estimated to have risen by over 8% in 2006, and supply by 12%, reducing the market deficit below 1,000t. Forecast growth in the vanadium market and high prices since 2004 have resulted in proposals for new projects, which could have a significant impact on world vanadium supply. As new capacity is brought on-stream, the vanadium market is forecast to move into surplus in 2008/09, and prices are expected to fall back to average historical levels of US$4.50/lb vanadium pentoxide and US$20-22/kg ferro-vanadium towards the end of the decade. This downward movement in prices is likely to limit the increase in vanadium supply.​
And further on Windimurra gets a mention...
In Australia, Precious Metals Australia (Windimurra) will commission production of 6,000tpy ferro-vanadium by mid 2008. Aurox Resources (Balla Balla) has commissioned a bankable feasibility study that examines production of around 5,000tpy ferro-vanadium by 2010. In China, Panzhihua and Chengde Xinxin plan to raise capacity by some 8,000tpy ferro-vanadium and 6,000tpy vanadium pentoxide by 2011. In South Africa, the potential combined increase in capacity by Highveld Steel and Vanadium and Xstrata is over 6,500tpy vanadium pentoxide.​
As others have noted on the IRC thread, "Historically the price of Vanadium has followed a spike-crash-shakeout pattern, with long periods of depressed prices followed by brief price spikes. Demand is expected to rise until 2010. Currently at about 100 000t/pa"

Take care...


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## YOUNG_TRADER (14 May 2008)

*Re: WVL - Windimurra Vanadium*

I started looking at WVL to get an idea of what MXR might have with all their surrounding grounds,

I decided to pick up a few under $2 whilst doing me early research a few weeks back, showing a healthy 50% profit, I really wasn't expecting that, will be looking to bank those profits soon


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## YOUNG_TRADER (19 May 2008)

*Re: WVL - Windimurra Vanadium*

Ding Ding Ding,

Banking my 50% profits in this one, wonder why the rally? No real news, just getting towards production

Anyway its rising mkt cap bodes well for MXR and IRC, 

cheers


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## vine (28 November 2008)

*Re: WVL - Windimurra Vanadium*

Can anyone tell me why they think this stock has dropped down to its current level., hit .35 today from highs of $3. Thy are nearing production and have an assured buyer via their links with Noble. Apart from the general downturn in the steel industry affecting the SP, am I missing something, cause from all I've read given 12-18 months they should be worth a lot more. Not seeking advice as I intend to hold just a bit of assurance as a newbie that I'm thinking right with this one. Thanks


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## Miner (28 November 2008)

*Re: WVL - Windimurra Vanadium*



vine said:


> Can anyone tell me why they think this stock has dropped down to its current level., hit .35 today from highs of $3. Thy are nearing production and have an assured buyer via their links with Noble. Apart from the general downturn in the steel industry affecting the SP, am I missing something, cause from all I've read given 12-18 months they should be worth a lot more. Not seeking advice as I intend to hold just a bit of assurance as a newbie that I'm thinking right with this one. Thanks




Although can not exactly answer your question but you may consider few points here.

The company has been looking for senior managerial staff for last six months. It is essential to operate  any company. Now suddenly they have frozen all strategic recruitments. It is like having a ship without a sailors or team leader. The Captain does not sail it himself. 

So there is something expected to coming out. It is probably the insiderers or financial institutions who are dumping the shares. 

Further with commodity prices slump, iron ore and steel demand low it is a natural relationship that prices and demand for Vandadium Chromium and Moly will come down. 

Please DYOR


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## Apicius (19 December 2008)

*Re: WVL - Windimurra Vanadium*

I am also wondering if they need to raise new capital to get through the next year. It looks like only about 2000t (FeV equiv) will be produced in 2009 and the price for FeV is already below $30 whereas the last profitability assessment i read was based on $40. That looks like creating a loss of possibly $25M. I guess it all comes down to a resurgence in steel making - if so then the price may rise.

Following on with what "Miner" wrote. If they aren't concerned with a strong management team them perhaps they might mothball the plant until the metals market has some direction.


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## Trader Paul (10 January 2009)

*Re: WVL - Windimurra Vanadium*



Hi folks,

WVL ..... longer-term chart has price action off its December 2008 lows and 
with a strong and positive time cycle due from about 16012009, it would not 
be surprising to see a rally, over the next couple of weeks ..... 

have a great weekend

paul



=====


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## vine (18 February 2009)

*Re: WVL - Windimurra Vanadium*

WVL hander over to administrators. Merril Lynch is the secured creditor. What chance the shareholders get a cent.


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## kgee (18 February 2009)

*Re: WVL - Windimurra Vanadium*

Correct me if I'm wrong but isn't this the 2nd time this mine has failed to get into operation?
Maybe 3rd time lucky


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## dmagnus (26 February 2009)

*Re: WVL - Windimurra Vanadium*

This was a real pity...

But dont ask for money to get something that's worth less that what your asking for.


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## nunthewiser (26 February 2009)

*Re: WVL - Windimurra Vanadium*



kgee said:


> Correct me if I'm wrong but isn't this the 2nd time this mine has failed to get into operation?
> Maybe 3rd time lucky




yep , there is already talk in the midwest of when it will be up and running again ........meanwhile another bunch of unemployed miners hit the streets .

hopefully one day someone will have the nonce to see it through


LOL kinda reminds me off oakagee development promises too . this will be 3rd attempt also.... will it go ahead ?? i think not


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## System (6 December 2016)

On December 6th, 2016, Windimurra Vanadium Limited (WVL) changed its name and ASX code to Titanium Sands Limited (TSL).


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## greggles (8 September 2022)

Unusual amount of volume today. Could this be the beginning of some unusual price action to come?


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## Sean K (8 September 2022)

greggles said:


> Unusual amount of volume today. Could this be the beginning of some unusual price action to come?
> 
> View attachment 146558




Completed some drilling on 25 Aug but results wouldn't be turned around in at least a month. 10m shares issued on 26 Aug? Odd.


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