Ann: Premium Strategic Placement and Offtake MOU, page-52

What you are touching on has everything to do with what I tried pointing out only a few weeks ago. VR8's deposit is located in South Africa and due to recent chpoice made by the SA government to very visibly align itself much closer to both China and Russia simply has downgraded SA as a preferred option to diversify away from China in particular in certain critical minerals including Vanadium... So I am not surprised by this deal, but also would have preferred a European or US/Western based partner.

Next to SA's poor choices of friends (IMO) the West in general is somewhat asleep at the wheel when it comes to securing resources and long term supplies, while the Chinese are very much on the ball. You can say about them what you want but they are simply doing an outstanding job in cornering the market on several key commodities and supply certain growth markets (like batteries) and the West is simply letting it happen. A general lack of attention to and understanding of Africa is part of the issue.

For a minor investment of under $6M AUD a Chinese company has now nearly 10% ownership of a massive resource that can be mined for a couple of centuries AND they have first dibs on a big chuck of that commodity. Apparently no Western company lined up to pull its wallet. Frustrating but a common theme in the Junior mining sector.

At least 60% of first stage production and 100% of second stage production are still available. Hopefully it doesn't all go to China....But I fear the West might end up depending on China for the production of VRFB's just as much as Lithium ion batteries....

If we as simple retail investors can see what is happening surely companies looking into VRFB's should be able to see the opportunity here. Why they aren't pouching on it is a mystery to me.