Out at 0.011 cause this is going AON soon ..., page-12

I re-affirm the no need for road shows. The dollar won't fall much further than current prices. Vanadium is showing its strong lagged correlation with iron ore, as most of the vanadium supply comes from iron ore slag once processed in China. There was a bump ump in iron ore about a month ago but has since fallen back down.

Unfortunately you are wrong at looking at ferrovanadium. YRR will produce V2O5, which is not doing so well in the market. It has actually fallen. do not advertise external sites/Art...ices-out-of-step-in-Europe.html#axzz3bzSPhGmt, I know its outdated.

Vanadium prices towards the end of last year projected an NPAT of $54mil annually. INCLUDING the current fall of the dollar, the annual NPAT is now down to $34mil. If a JV was to be possibly formed, they would require a very high rate given the vanadium market risk. 10% annual return would be ridiculously low, but that means they require $23m + $11.5m/year to pay back principal (Assuming they drag out 20 years of high grade vanadium). That is $34.5mil. Greater than the projected NPAT. This situation is completely illogical, and it is even before YRR shareholders get a sniff of revenue from the mine.

Forgive my comments from weeks ago, I was not correctly informed with the market and have found quite alarming.