Thanks for your reply hetero.I am not sure you are right. The...

Thanks for your reply hetero.

I am not sure you are right. The analysis done on PMA is based on real facts due to the previous operational period. The average cash costs for the whole of life of the mine are estimated at US$2.10 per lb. I have not seen eny numbers for AXO. It remains to be seen what they can do. With regards to reserves maybe another 50Mt is available.

Their chemical costs are extremely because they are using oxalate, a waste product.

The other thing about this is the vanadium. This market is a bit peculiar, as far as I am aware, so over production could drop the price through the floor.

Finally, I have yet to see what PMA are to do about ferrovanadium which they want to produce. That will be some kind of added cost.

Regards

ps I am heavily invested in PMA.