^this exact thing. Don't blow your bets out too much lads,...

^this exact thing. Don't blow your bets out too much lads, you're all pretty rational usually! Expecting around $300m MC once we're settled into production personally, and that tmt may hit $600m MC in a bubble spike. Apart from that, I don't believe there is a logical case for vanadium to stay above $20/lb, as other supply sources may return to production (stone coal/coal slag/Chinese IO slag), and someone else might try the LPD/LIT 'water to wine' technique of splitting unconvential ore into an array of products, this time including Vanadium. That's not to say I'm bearish in the slightest on TMT though. Haven't found a Vanadium play to beat TMT yet on the ASX, doubt I will.