[VIDEO] Vanadium Resources (ASX:VR8) DFS imminent, powers on to production, page-45

Noting that through Vametco and Vanchem, Bushveld Minerals produces Nitro Vanadium, ferrovanadium, vanadium oxides and vanadium chemicals, meaning they are seriously vertically integrated. WIth more vertical integration comes higher costs which are more often than not offset by higher value added products.

Take a look at their C1 production costings.
Its approx USD23/Kg or USD 10.45/lb (assuming V2O5 here). They also produced a lower volume this year.



I reckon this is the reason VR8 is not trying to grab as much of the value-add chain as possible. Start small, specialize in a product that has maximum bang for buck and go from there.
The BoD is very experienced in the Vanadium space, as well as the fact they would be scrutinizing Bushveld's performance with a fine tooth comb.
I'm personally confidant we are in good hands.