I think you are confusing me with someone who gives a sh*t about...

I think you are confusing me with someone who gives a sh*t about titanium pigment. I'm invested in TMT for the Vanadium, and if they can extract any additional value out of the ilmenite by-product that will effectively lower the opex of the Vanadium, then all well and good. I'm not interested in Fe2O3 either. I'm attracted to TMT too because the operation is relatively simple, they are focussed on producing high-purity V2O5 and then VRFB electrolyte. I certainly wouldn't want them to build a pigment plant at the outset, and add another slug on the capex. I think you've had a good go on this blog, but now its time for you to go back to TNG. I haven't followed TNG for some time, but the last time I checked there were a lot of disgruntled TNG posters unhappy with the lack of progress of the company led by the current CEO.

All IMHO, DYOR