Ann: Vanadium Metallurgy Update, page-4

While i don't claim to understand the scientific approach at all. these are excellent grades and well within margin for "battery grade" not to mention the titanium. You have to consider that there will always be variance in these things and we are discussing the difference between 95.2% and a scopy study based on 99.5%. Given a million vairables from leaching time, feed in grade, or temprature could cause 5% or greater variance I'd say they'll probably tweak the process and get what they are after, then standardise it for a commercial scale. its a great result if your realistic about these things.

Its not a miss at all given that pricing for minerals is grade ranged (i.e $$ between X% and X% and $$$ between X% or greater) and the recoveries are astounding considering industry average. this is still in its baby steps so first run with their first lab and punching out 95.2% is bloody good then consider we have about a billion tons of it then you're cooking with avgas!