If it comes to that being the only catalyst I can't see the options being worthwhile - the SP would probably bounce around at some stage to a level where you could buy cheaper. The only things that are going to put them safely in the money is the Ti offtake or ECA finance agreement IMHO. Hopefully PB is overseas sealing one of those two deals right now.
ITMT, a vanadium article.
TNGOA, page-42
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