Ann: Preferred Tenderers Engaged to Progress MTMP Implementation, page-14

AVL is $140 mill because it is the Aardvark Australian Vanadium Company. First in the phonebook. Total baggie stock that one. Even if it does get up, (and it might well in two years), the SOI is going to really limit any gains current and LT holders have. Risk V Reward is frankly terrible.

If they do get up, both AVL and TMT will send each other broke by collectively sinking the vanadium price. But as often said, you could still make 5-10 bags here and get out before that happens. So ATB, at least here there is the prospect of reward for the high risk.