The keys are refined bulk samples to give to offtake partners. Make a big batch of quality V2O5 cheap and you're in business. Hard to sell the dream with a bucket of tumeric bought on Alibaba.
I wouldn't quite go so far as to say it's not a necessary step, but it shows the integrity of the team that they haven't announced the reproduction of a simple lab process patented in 1984. The process has already been proven: http://www.freepatentsonline.com/4477416.html
where is the pfs??????, page-101
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