Not sure I agree, Broph.- yearly drilling campaigns for the last...

Not sure I agree, Broph.

- yearly drilling campaigns for the last 4 years (I think), increase in the indicated resource ~60%
- laboratory test work done pre-covid
- investment in a pilot plant (with QEM's funds, not grants that may delay progress, etc) with multiple runs
- from what I gather, oil extraction yields are understood (raw oil) and vanadium recoveries via acid leaching are understood as weel
- update of the mining scoping sudy currently underway...will lead to PFS
- the board has been reinforced with a new chairman with a great reputation in the industry
- Uni Qld Critical Institute doing mineral characterisation and beneficiation. The mob in the UK (GSA) is a specialist in mineral recovery (check this https://www.gsa-env.co.uk/ )
- small cap raises over the last 18 - 24 months, to avoid dilution

All this info⬆️ is a summary of the various asx announcements.

Re. vanadium demand for batteries, currently ~96% of V2O5 production is used in steelmaking. The demand for batteries is still a few years away, the timing for these projects (heading to end of decade) coincides with the maturity of VRFB (and V2O5 demand going parabolic)
From my POV, I would like to compare the history of battery-grade lithhium carbonate. It's price in 2015 was $5k UsD/tonne....yesterday $472k UsD/tonne....Lithium batteries for grid-scale, long term storage won't cut it.


That's the beauty of investment (and life in general) we can look at the same thing and see it differently.