Vanadium Price Advances, page-161

The Shaw initiation report and valuation at 8c can be summed up as "wrong time and wrong place"....clearly done to boost its chance to be in the reckoning for a seat at the table for an equity component of a project build....no sense to put a valuation pre integration study results....it leant on clearly outdated previous AVL BFS.....a report/valuation will only be credible once free of multiple assumptions and once input and processing determinations are chosen based on economic merit....rare to give credence to a bitter ex holder but this report and timing was odd....With 10+ GWh of vanadium batteries in the pipeline in China alone the vanadium sector will soon reignite......the Dalian ( Rongke Power ) 200/800 MWh battery in China now fully operational required 7,000 tonnes of vanadium....the maths are compelling