The VRB use is the tricky question. No direct precedents. It's easy enough to look at Largo and see if they've started to hurt with a low price, yet, they're not really mining for batteries.
The structure of a VRB can't be to expensive. It's just a shipping container with internal walls, pumps, wires, a computer, a membrane and some V2O5 in solution. For me, the unknowns are the membrane. Vince has stated that 9.889 ton of V is needed per MWh. At current prices (using $10lb here), thats about ($10*2.2*1000*9.889) $21,700 per MWh, excluding the box and wires. Compared to Li (after a fast/dirty Google search) with $150,000 per MWh. Consider the lifetime of each battery and you've got a bit of an idea of how good V is.
Vanadium price to go to $30/lb... Sure, maybe even $60... 1-exp(k/t) style relationship, as there is an upper bound on price growth which is dependent on the cost of box and wires.
Ann: Response to ASX Price and Volume Query, page-42
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