vanadium talk, segregated, page-3

Pu Neng and VRB Energy...digging around I have found some different information.
Originally I thought Pu Neng had changed it name to VRB Energy, but this is not correct.

1. One reference said that they are the same company, but Pu Neng refers to the operations in China, and VRB Energy refers to operations outside of China.

2. Another company reference said that Pu Neng was a subsidiary of VRB Energy. This is consistent with #1 above.

Both references indicated that majority control was held by HPX (=RF).

Very importantly, the Pu Neng material stated clearly that Pu Neng intends to be vertically integrated from mining the vanadium ore to manufacturing the flow batteries.

IMPLICATION #1. the most important implication for western investors is that the sourcing of vanadium for Pu Neng is going to be from within China, and that Pu Neng or an affiliated company will be involved in the sourcing.

It also implies that VRB Energy will focus on sales and marketing outside of China, and will not have the mining or manufacturing of vanadium as its primary focus, at least with respect to supplying Pu Neng.

This tends to confirm my speculation that a "Friedland-backed entity" will announce a vanadium deal, although it
is negative or neutral with respect to CLQ being that entity. The odds are still decent for CLQ, but it is not a sure thing.

IMPLICATION #2. The source found indicates that the vanadium sources are likely to be from Shaanxi or Hubei provinces, which are contiguous. RF's recent deal was in Hubei province and he stated plainly that there is a lot of
vanadium nearby, which will be targeted for supply to Pu Neng.

GOING VERTICAL: it is a stated intention of Pu Neng to be vertically integrated from ore in the ground to finished battery. I believe this has VERY IMPORTANT implications for CLQ outside of China, in particular Sunrise,
because this week's news release by CLQ seems to be a precursor of the same "vertical" strategy.

The situation at Pu Neng in China is somewhat alalogous to the situation with Clean Teq in Australia; and the corporate strategies are comng from the same place: the mind and vision of Robert Friedland.