Valuation Method:

Percentage of in SITU Metal Value

- 1% rule of thumb for base metal deposits

-say they have 10 billion lbs of vanadium which is very possible X $7.40/lb

-= $74 billion x 1% = $ 740 million

- $740 million divided 114 million shares = $ 6.49 .

I say the share price is very undervalued.