Geoff be very careful with this one. Have been watching them for...

Geoff be very careful with this one. Have been watching them for many years... and have also been involved in the V / Mo / Co / Ni biz for over 15 years.

Points to note :-

In a recent interview, the boss wants to get rid of middlemen in this business. Unfortunately it ain't gonna happen so he has a little too much wishful thinking.. It is like wishing to get rid of COLES so we can all buy our veggies down at the farm.. DREAMER this guy...

Vanadium has very volatile price swings and currently has fallen considerably with V2O5 quoted in the range of US$ 8.50 - 9.50 / lb.. Considerably down as earlier in the year was around US$ 25.00 / lb.

I do not know their breakeven price level, however would presume that if V2O5 prices drift under US$ 5 / lb, then could have some problems making $$$.. as the Vanadoum concentration in the ore is extemely low when compared to other vanadium bearing materials such as slags, ash, spent catalyst and other residues.

Xstrata got rid of this for a reason and hence lies the real issue here... Historically the avarage vanadium prices have been much lower than they are now and price spikes are not true indicators of the real prices..

As always, DYOR, however IMHO, I would stay away ..