I agree buc, GG is giddy about current vanadium prices. Vanadium is the reason WUC's share price has jumped, so he has good reason to be optimistic. But even if V prices hold, eventually he will have to demonstrate that WUC can actually produce V2O5, or an ablated concentrate containing vanadium. The best scenario would be sending ore to White Mesa for milling, but GG's recent public statements cast doubt on this. It's unclear if he can't make a toll milling or ore purchase agreement with Energy Fuels; he has been silent on the matter. He has, however, discussed the idea of ablating ore at the SMC and shipping the concentrate to offshore buyers.
The risk here is that state and federal regulators may require a uranium milling license due to the presence of uranium in the ore. GG claims a milling license would not be needed without offering an explanation. The risk for holders is that a legal fight over the issue could delay production, and an adverse ruling could mean further delay and expense.
