Ann: TVN Update on Vanadium Electrolyte Testwork Program, page-18

Great post Bower.

My uneducated position is that Fluorite has changed things up a fair bit. F is now that pathway to early revenue, low capex, depleting globally which means pricing strength, and with a PFS imminent and a DFS back end of next year, this is the front runner. On that basis we don’t need to necessarily go down the salt roast pathway for early revenue purposes (now we have a commercial F deposit and a JV partner) especially if Tivan+ delivers the great outcomes observed thus far. Let’s go for gold with a Pilot Plant which I’m sure government money and other sources will help fund to ultimately create the 3 revenue streams you mention. Also V pricing is constrained and there needs to be a shift in that market as the globe better harnesses the green transition. And it’s coming for sure.