Value of SRN` vanadium resource, page-34

https://smallcaps.com.au/china-new-vanadium-steel-rebar-standards/


As China’s November deadline to incorporate more vanadium in its steel rebar takes effect tomorrow, vanadium investors are left wondering the impact this will have on the commodity, which is already experiencing a tight market that has driven its price up more than 840% in the last two years.
China’s Standardization Administration announced the new high strength rebar standard back in February this year, saying it would officially come into effect on 1 November 2018.

Many investors are betting on how high it will go with some predicting the 98% vanadium pentoxide price will push past US$40/lb.
Adding to the situation is the prediction new vanadium supply will not come online until at least 2022.
And, until then, it’s estimated about two new operations the size of London AIM-listed Bushveld Minerals’ Vametco asset are required to come online each year for the next seven years just to meet projected market consumption.
Producers

More than 90% of the world’s vanadium arises out of South Africa, China and Russia.
Meanwhile, China is the largest vanadium consumer globally, with the nation scooping up more than 40% of world-wide production in 2017. This is expected to grow further on the back of nation’s new rebar standards.

Looks undervalued to me