Ann: Moody's Rating Review , page-7

Well, the deposit is known for "ages" and just a few weeks ago they found out there is clay in the ore that sort of clogs the cmb circuit?

Given your "prohibitive" comment on the vanadium industry I wonder what existing producers could do in order to prevent a newcomer from entering the market and offering product. I know there are others out there building new vanadium mines like Largo in Brazil who just recently announced financing for their Maracas project which they want to bring online within 18 months.