Yep. These low grade deposits with high mcaps will crash and...

Yep. These low grade deposits with high mcaps will crash and burn...

My take on this:

- Cap raising was a good move by TMT. It provides certainty for DFS funding and allows the project to proceed on its rapid timeline.
- It's a high grade deposit - anything under 1% is not worth the attention and TMT has a nice low strip deposit above this cut off.
- Vanadium batteries would be a bonus. At the moment it's all about the rebar and demand is looking like it will steadily grow as government regulate that buildings get built that won't topple over. Vanadium batteries are mostly made up of 1 ingredient: Vanadium. At these prices it will struggle to be competitive because battery membranes are the only avenue for cost savings, but cutting costs here won't make a huge impact. However, Vanadium batteries are relatively simple to make and they do make a nice little price buffer - as if the price were to drop to under $10/lb, they would start be the clear preference for grid storage based on price as well as the myriad of other reasons we all know about.

At a bit over $4 per pound cost, its current 50c SP, and in Australia (not South Africa) with a management team that is fast gaining a rep for getting things done, TMT is a clear standout amongst Vanadium peers.

Very happy with how this company is being steered. Keep up the good work.