Ann: Steelpoortdrift PFS delivers superior results, page-48

Hi Ned

Once again in the same boat!

Bought in today looking at the numbers of the PFS. Given the size of the resource and the very low per pound cost I expect this will go to production. Also with an NPV that more than doubled and the increased chance of actually happening + probably easier financing and probable related higher share price allowing for less dilution, I was very happy to pay a mere 15% extra compared to before the PFS this morning.

Certainly doesn't look to me these factors have been priced in fully yet

And thebattery use should be the biggest growth factor for Vanadium use over the coming years and decades. But pretty sure that too becomes uneconomical at prices over $12/lb. But that leaves plenty of room for profits.