If S32 was looking for a vanadium play TMT would be something worth investigating. It recently doubled its mineral resource to over 150 million tonnes with a grade of 0.8% V2O5
which puts it at the top of the grades of the advanced vanadium deposits within Australia.
TMT management state they have funding up until FID and can place orders for long lead time products.
I am a recent S32 shareholder but have been reviewing all the vanadium deposits in Australia due to me holding SRN shares for quite some time. TMT is more advanced than SRN in regards to bringing a vanadium deposit into production.
In my view VRFB battery energy storage systems will become very important and very prevalent throughout the world over the next 10-15 years and push large LiO2 based batteries down the pecking order.
Critical Minerals, page-32
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