TOE (ASX) Banter and general comments

I am going to put my Devil's advocate hat on again.

Sure RH is old school and not that active on Social Media, OK. But I ask the question what else do you want him to say?
There is only so much CEOs/MDs can say. Everything you need to know is on the public record already, in the March Marketing Pack, in the Operations Reports, in the Updated Drilling/Exploration plans.

When we say DYOR, that's exactly what it means. READ THE STUFF they DO put out. I am and I am more excited now than I have ever been. In the March 23 slide pack (slide 13) they even put it in a bigger font with bold highlighting.

Example:
(I know I keep banging on about the Vanadium)Yes Vanadium is primarily used in Steel but .......
Its only 319klms from Lake Maitland to Meekathara where $AVL can take delivery of the Va2O5
$AVL have just announced the contract to build a plant to create the electrolyte liquids for Vanadium Redox Flow Batteries after a $3.6m grant from Fed Gov Critical Metals program
There are already 4 VRFBs operating in WA
$AVL are hoping to keep AISC to $4 per lb, but aren't allowed to mine their 2nd tenement (old Toro ground) because its co-mineralised with Uranium (WA policy of no "new" U mines ... other than the ones already approved)
$AVL can only supply less than half the projected demand for VFRBs in 2024
$AVL have stated in a recent interview they may be looking to source Va from other providers "in the area"
$AVL have the vertically integrated value add supply chain almost built
$TOE have inferred Va2O5 resources of 18m lbs. If they mine that at 0.41lbs of 1.3m lbs/pa U3O8. That's $533,000 lbs @ $8.20 for only 52c/lb - that's high margin business!
So again - $5.5m of extra Capex and $400k/yr of Opex, they can bank $4.4m/yr. Now no-ones going to build a mine for $4m/yr, add in the other 1.3m lbs of U3O8 at even the long term costs and they are in the money.
Everyone has always assumed that because $TOE doesn't have a lot of cash on the balance sheet that it is a take over target - but I would ask the question ....... who has pockets deep enough when they need to start their own mines AND take on Japanese JV partners:JAURD/Itochu, in the environment that Japan maybe about to restart 16 reactors [Will they say that out loud at COP 26?]. Just saying ..... if someone did try that on it would be spectacular.
That's why they are doing additional engineering studies to convert the inferred to indicated Va resources.
The big news to watch for will be what the AISC will be when the Va indicated resource is added into the mix. I have roughly calculated it out in a quick and dirty spreadsheet, based on the inferred numbers, and can't wait to see what they put on the record.

Note: all this is on the public record, and just my personal thoughts, as a long term holder.
With respect, anyone who says "there's nothing going on the board should do more", ..... well I would encourage you to take a closer look at what they have done.

Additional Disclosure: Not currently an $AVL holder.

Have a great weekend all, from Day 253 in lockdown - Vic.