Surprised that no one mention about what the price surge means...

Surprised that no one mention about what the price surge means to VRB. I believe it's counterintuitive but it makes absolute sense.

Unlike Lithium batteries, VRB uses lots of Vanadium and price increase of Vanadium will have substantial impact on the competitiveness of VRB. The higher the price of Vanadium goes, the less competitive it is. Unlikes Lithium batteries too, VRB's costs will not experience dramatic decrease that Lithium was/is experiencing.

However, I believe AVL should bring **anintha Vanadium project to the Chinese steel/alloy makers. Vanadium alloys & steel are experiencing unprecedented growth due to Chinese government removing excessive & "underground" steel capacity, while increase the standards of the steel. The higher the standards, the more Vanadium is required during production.

One of the largest steelmaker in China - Hebei Steel or HBISCO ( they actually attended the conference in Manchester) said that the price surge of Vanadium will have big impact on the company's profitablity.

Long story short, I am certain that Chinese will soon be looking for high grade Vanadium resource around the world. They will want to secure raw materials (Vanadium) in order to control their profitability better. This has happened (still is happening) to Lithium and IMO Vanadium will experience similar situation.

In summary, AVL should not only focus on VRB but should also actively seek for Steel/ V alloy makers in China. AVL is sitting in the right place, PERFECT time, to move **anintha forward and I hope AVL will hold on to the opportunity.

ALL IMO and Good Luck.