John Kaiser on CleanTeq, page-18

Marco...it is true that when a vanadium deposit or source is identified, Friedland could create another mining company, or select another mining partner.

But I am not sure why he would want to. Why should he deliver vanadium mining profit to someone other than CLQ, when his own company Pu Neng will be the client ?

How do you think Pengxin and SR and Fidelity would feel about that ? To say nothing of Sallywoofs and Neoarchean. We would be livid.

The thrust of my thinking is that Friedland has no existing vanadium deposit to mine; but has the companies in house to detect, mine, produce, and sell vanadium to. Clean Teq is the logical pick.

The first step will be an announcement with a landholder (or factory with a lot of waste) to develop a deposit. At some point I would expect CLQ to be brought in as the miner.

This is a speculation...but I consider it to be a high probability speculation, based on the facts and motives that we can see.

I do not think such a deal involving CLQ would be announced before the DFS. It would
be too distracting, too off-topic, and we are too early in the vanadium boom for it to have impact. Sunrise is the Priority.

However I would expect a low-key exploration and development announcement about a coal or coke property at some point after the BFS is published and the financing is lined up.