Fact 5 - this will hit 0.8c before 1.5c, page-43

I will echo the question; What has changed?

The 2004 JORC was big enough, right?
So, just by the fact it was accepted as a JORC resource effectively means they have proven there is V2O5 down there, right?
There IS a resource down there - isn't there?
That's not in dispute is it?
And even on 2004 estimates, it was already a commercially viable quantity, yes?

They're now completing a 2012 JORC which we "hope" will actually UPgrade the resource as opposed to downgrading it.

I seem to recall a thread a while back wherein I mis-caclulated the commercial value of what was down there, based on the '04 JORC and the actual value came out at some (what was it??) $11B, give or take??

Ok, there's funding to get, mine to build and of course you have to be able to sell it, so someone needs to sign up to buy it.

But other than that, unless I'm a complete idiot, what else has changed to change one's perception of this stock? So;

No funding - yet.
No mine - yet.
No MoU or Offtake Agreement - yet.

Yeap. There's no actualy prospect of developing or selling it - yet. Not until they get someone signed up to buy it. Hence, maybe, penny stock status.

But, it's not like these guys are a nickel explorer who haven't found anything yet, right? Or have I been living with my head under a rock?

They DO HAVE vanadium, don't they? IF they do, yeap, they need to formally qualify it, market it, sign someone up to buy it and then mine it.

But they HAVE vanadium, right?

So, given we know they HAVE a resource; surely it wouldn't matter if it takes 6 wks or 6 more months, Assuming they can do a deal, eventually the SP has to move North and make everyone a bit of cash.


Yes. I phrased every statement as a question. By all means, tell me I'm wrong and why. I don't wear blinkers. But given the general nature of this end of the market, surely this has to be one of the safest bets around.

It's not going to let me retire, but a year's salary might be nice.