crunching the numbers, page-23

"isn't there something about the patent process needing to be passed"

Yes - But i think this is a gotcha... I have been looking at other V2O5 producers and their costs per pound range from $2-$8...

Ruane has repeatedly claimed bottom Quartile Cost producer with his patent tech.

If Ruane uses existing tech, say OPEX $5-6p/lb, he can be marginally profitable and justify a share price higher then now... IF V2O5 drops to $6-8 from its current $17.

Aussie Reed Res PFS: operating cost of $A2.67 ($US2) per pound.

Aussie Windimurra Vanadium's Website

Now if Ruane gets it OPEX in at $2 - He will make an absolute killing... 10-bagger easy, with many, many years mine life.

I think this is WAY undervalued... Market thinks the patent is the make or break... I think that it is a goer without the magic potion they are working.

DYOR of course...