Ann: Letter of Intent signed with Hebei Vanadium, page-86

The timing of DFS, being behind our neighbour, is not that important - it's more important they take their time, get it right, and attempt to stick as close to the timeline from the recent ann.

If you were going to finance a Vanadium mine in Meekatharra Australia, would you go with the organisation that was finished their DFS first, or would you wait to read both DFS's and make a decision based on the more impressive document? I suspect financiers have a lot of patience when it comes to lending out a few hundred million. Especially considering how turbulent it's been in the last year for the V market. AVL's DFS can come out a little later in the year - hopefully just as their an upswing in the V2O5 price.

On the battery front, does anyone know how cosy our relationship is with Bushfield's? Vince refers to them as colleagues, is this simply a relationship built through Vanetic? I noticed BMN is buying a stake in Cellcube & RedT energy - VSUN can sell batteries from both companies.
BMN is positioning themselves firmly in the centre of the vanadium flow battery ecosystem. With future increases in V demand principally coming from the battery sector, a close relationship to BMN could be very beneficial to AVL?
VSUN could yet turn out to be a real trump card for AVL - a few more battery sales wouldn't go astray in the next few months.