Ann: Boardroom Radio Broadcast - Mr Paul Burton, page-61

Propunter2, initially in was really concerned that the TIVAN process would ultimately have competition and loose its edge. As a result i spent some time trying to understand it and the risk that it might be trumped.

You are right it is "it's special herbs and spices" that are the secret. The individual processes appear "industry standard" but it's the combination of these processess and the type/quantity/makeup of the leiching agents that are key. That is what has been Patented. I hope I hadn't done an injustice to TIVAN but that's how I understand it.

So there are in fact some processes around each of the compounded in titomagnetite but not in combination that can in effect successfully extract all the components as TIVAN does.

It can't be overlooked that historically vanadium extraction was a bi product of steel manufacture. Even today there is only one primary vanadium producer operating today.

It seems that applying the traditional extraction processes to primary vanadium production (as opposed to steel hi product production) just doesn't work as it locks in one or more of the compounds be it titanium, vanadium or iron and the silica content binds everything up. Again I urge SHers to read the Vanadiumcorp NI 43-101 Resource document. The focus on the report is to measure the resource. To do that however you have to be able to extract it and there in lay the difficulty for Vanadiumcorp. Literally 40 plus years of exploration and trials with the Lac Dore Prospect and they couldnt unlock all the resources sucessfully.

Reading the report really helped me understand the metallurgical triumph that TNG has in TIVAN.

Anyway I add that it is the successful extraction of all elements that creates the cost benefit to TIVAN so if an entity manages to extract one compound they are still not as cost efficient and effectively waiste the balance of the resource.