you're correct. Vanadium and cobalt require more capital incentives to develop.
Companies are searching for cobalt but the roasting method is too expensive to get cobalt whereas vanadium is drawn out from tailing method but it's alot cheaper when ores sorter is used
Cobalt needs higher nickel price and vanadium needs higher graphite price.
Ni price is influenced by Indonesia and Phillipine exports but Vanadium is not a traded commodity where the price is influenced by the numbers of contracts signed.
I think both of those metals will sky rocket in the future because none of those resources are developed due to the lower prices.
Cobalt is a clear example. No explorers/producers could beat the wet laterite ores in Indonesia, Phillipine and DRC.
Vanadium would be introduced in cathodes because of its heat resistant. It's the next big thing.
So it's always good to hold those resources for a spectacular spike in the sp IF there're BIG players comming to town.
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