Fortune Mojapelo, Bushveld Mineral Limited’s (LON:BMN) chief executive, believes the miner's first half numbers were good 'by any stretch'. He adds, however, that they were based on an average vanadium price of US$65 per tonne, whereas the current price is US$110 per tonne, which bodes well for the second half. Fundamentals for vanadium are also far stronger going forward than they have been in the past, he reckons. . Phase 3 expansion at the Vametco vanadium mine is commencing in earnest, while the group is also looking for new brownfield assets. A dividend policy should be in place by the end of the year, while a framework to highlight the value in the energy storage business is also planned. “The business is still very undervalued," believes Mojapelo.