Why comparing of these two company. Buy in TNO. It have both high whole rock grade and high concentrate grade. Plus the concentration was proven by the adjacent producer. There are several processing plant near TNO with transport available.
Why Highveld Steel and vanadium was in trouble in 2015. Because it was a steel company with high level of Debt in south Africa where have no tariff in importing steel. Cannot image which country can compete with Chinese government on producing steel without tariff protection. After the long time depress of vanadium price since 2009 and the entering of largo resource. The high levered steel producer Highveld with half century production didn't make it.
IRL didn't buy Highveld Steel but only pick the mapochs mine because Steel industry in South Africa have no hope. I think the powerful Chinese group will build a modern vanadium plant with the TNO production amount in consideration.
TNO Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
