China 1 Trillion, page-7

Joules, holding shares in SHE is in my humble opinion an investment is four separate interests - four businesses.
1. Vanadium;
2. Uranium;
3. Protean power;
4. Protean desal.

And I am starting to think along the lines that Protean as portable desalination infrastructure may be much bigger than as a power source alone - although I, like other holders, want both to thrive.

Consider the story in this link;
http://www.pbs.org/newshour/bb/how-puerto-rico-is-coping-with-the-worst-drought-in-decades/

The Puerto Rican government is basically broke, and loses $ 12 million per month in water revenues it cannot collect because of it's strict dry season water rationing, and it's lack of funds to upgrade critical supply infrastructure (below ground piping and water purification) which is aged and in very poor condition.

Protean as a desalinator, uniquely takes advantage of two crucial resources in providing a response to such communities, because it thrives in an environment rich in the following;
(a) Unlimited power supply (makes it's own);
(b) Unlimited water supply (salt water for processing).
Plus, Protean used this way is able to leap over the infrastructure problem by it's fast deployment and portability - able to service potentially local communities all along the island's extensive coastal perimeter.

The government there could easily contract POW as an alternative fresh water supplier, and stem the financial haemorrhaging it is currently beset by. (12 million reasons a month) And environmental and physical costs associated with water transportation would be minimal, another key advantage.

The global market demand for uranium and vanadium will improve over time.

Poorer communities have a need that can be met by Protean right now. We don't need to be a pure play as you put it, and can exploit all four interests strategically.
Cheers BC