Ann: Bankable Feasibility Study for Australian Vanadium Project, page-122

In my opinion the grant is stage one for the government, what they want is a vanadium super centre and that's why AVL has selected that area for the plant, its on the highway, and multiple vanadium plays in proximity. You have other players, why waste the cost in building multiple sites, you can see how exe a vanadium facility is. AVL builds and it gets topped up as others mine. The fundamentals are strong, seven year payback is what seems to be the talking point, but its a 25 year LOM and add in that others may use this facility as time progresses, and there are many others, its going to stack up.

Vanadium in my simple opinion is going to be the back up player to lithium, we have limited supply of that, so in steps vanadium to back fill some aspects, storage etc. Its conservative, boring, government likely to back the loan. I hold, will continue to hold.