I had a quick look at SRN. The relatively low EV is appealing. I couldn't see much about mets as of yet which is my other point of interest with VMC.
I am only an amateur when it comes to this stuff but my understanding is that processing costs are fairly critical for Vanadium. E.g. When Windimurra was operating the ore went through crushing, grinding, salt roasting and acid leaching before refining. If VMC's recent announcement is to believed part of their deposit is soft oxide ore that can be accessed at a zero strip ratio, requires minimal mechanical processing and 67% Vanadium recovery can be achieved using atmospheric sulphuric acid leach at 80C. I am not too worried about lower grade or deposit size if they can just dig it up then put it in a warm acid bath to get a half decent concentrate.
Guess we'll see, VMC doesn't have the best track record (anyone remember waiting in vain for them to drill their tenements near PLS and AJM?). Good luck with SRN.
(20min delay)