The preoccupation with today's vanadium price, considering a...

The preoccupation with today's vanadium price, considering a developer still two years away from selling, seems rather futile. Someone will need to make a speculative estimate about the 2025 price.

Even the most cautious projections for battery adoption indicate a substantial surge in demand that can't be met by current supply. It doesn't make sense to ramp up steel production to fulfill battery demand, especially during a downturn in the steel sector.

Fortunately, we have a specialized resource finance fund that is dedicated to taking calculated risks and securing funding for non-conventional mineral mines.

In my opinion, this current weakness is unsustainable and will inevitably result in depleting stockpiles and soaring prices, possibly exceeding $10 per pound. I believe this timing could work to our advantage, as battery producers refine cost efficiencies and gather performance data, setting the stage for a significant upturn. This, in my view, is the calm before the storm.