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Is that FAR has the real capacity to become the largest and cheapest Vanadium producer by a considerable margin in the world. Having carried out my own D/D and taken a significant stake (currently breakeven), I believe that the appointment of Sir Mick and his team and the investment of VB puts the project light years ahead of any competitor. The recent RNS shows that the new management team want to do things properly, with the experties of Xtrata. To expand the BFS and incorporate additiona ore bodies as well as the range of by products. It is inconceivable that FAR is highly likely to have a negative cost of production . This will mean that it will become a swing producer setting the price and dominating the vanadium market for decades to come. I would urge any investor here to focus upon FAR and not competitors. No other company has the cost of production, the size of resource, the gifted infrastruture and now the management team to bring NB's dream to fruition.

I think to be honest that VB will have carried out significant D/D. The whole ethos of the group is to provide clean energy.
One of the criticisms of NB (which is reassuring as per the comment you highlight) is that he plays by the book and is ultra conservative, too much so possibly and hence lack of PR and subsequent PI interest. Ultimately VB had a significant choice of projects to invest in, incl other Vanadium players but chose FAR, that is enough reassurance for me.

Interview with NB. I agree he isn,t the best presenter of case ,but that is why the strength of VB and its team is such a great fit. MB is the technician and VB will bring the market perception and external credibility. Looks like the stage 2 ($2bn Nav) is going to be easily surpassed with the "enormously expanded" BFS. Yes patience required but the prize is eyewatering!

A series of interview by the New BOD following 3rd June Appts, spelling out short term goals and the expanded BFS.

The only reason why the BFS is being delayed until next year is due to it being EXPANDED!. Which means the project will potentially be significantly larger, leapfrogging stage 1.

Just need a couple of interviews to update. By my reckoning mid 2022 is 1 year away! The upgrade in plant will support current valuation .

I am sure that the heavy lifting of the shareprice will now be taken up by Institutions and Commodity Funds now the Permission and board changes have taken place.

As I thought the Company is looking at a hybrid BFS between stage 1 and 2. so potentially a $1.5bn intial NAV.!!

Brilliant RNS to wake up to!

https://www.telegraph.co.uk/business/2021/05/24/wind-slump-risks-blackouts-britain-goes-green/

Emphasises that UK (amongst others) will have issue with potential blackouts with falling wind or lack of sunshine as reliance on Green technology. The only solution........

Sir Mick is a bulldozer, a serious negotiator. MB on the otherhand comes across as a slightly slow , methodical technician. Yet MB has negotiated a deal whereby the stage 1 development finance will only take place when the share price is at or greater than 78p and thereby triggering the final $20m. Why would Sir Mick agree to such a figure and where does it come from? To me, it illustrates the huge upside for FAR and its value. Sir Mick will be looking for multiples of his average investment via Vision Blue as will all the major players investing via that group. He is no fool and will have negotiated hard as he has always done. So for us the hard work has been done, the heavy lifting over the years by MB and his team and now the perceived upside value seen by Sir Mick and the VB team.

https://www.telegraph.co.uk/business/2021/05/20/time-turbocharge-offshore-wind-says-national-grid-boss/
Brilliant article demonstrating how challenging it will be for UK to achieve its Climate Goals by 2030. UK will need 13 new Mega Wind farms! Key is that the expedential growth in electric cars will require overnight charging and that will put logistical pressure on networks. The only real answer will be VFB's. Absolute incredible potential. !

Yes just a holding action. Having read the history and watching the various interviews I can see that MB is very poor at communicating and providing a public face for FAR. In the background a phenomenal technician but no urgency. The real aspect I like about MB is that he is focused on minimum dillution unlike most CEO's of small public companies. He is going to be a very rich man and can now , with VB see that being realised. Sir Mick will move the company from a snail to a hare once the long awaited RNS drops!

I would expect a pretty close correlation between NPV (certainly stage 1 of $1bn ) and shareprice once FID has been given. The timeline to production is relatively short I understand (12 to 18 months and capital is fairly modest at $100m with IRR in excess of 80%! Having said that I believe that once the BFS is published sometime in the Autumn the company will elect for a hybrid stage 1 and 2 as the market is now factoring in a post Covid resource boom and VSB is now beginning to emerge expeditentioally. I also agree that an update from management re the delay would be very helpful but I cannot imagine it will be long now.

I have recently invested, significantly, (3 months or so ago). Just under water. One of my D/D's was the CRUX interview , which I believe was in the early part of 2020.
https://www.cruxinvestor.com/videos/ferro-alloy-resources---a-better-way-to-do-the-things-we-do
It may be worth watching for new /existing investors again. The thesis is as strong, if not stronger than at the time of the interview. COVID has caused the inevitable delay, but the growth of the Renewable debate and electrification has meant that VFB's which were somewhat discounted by MB, are now right and centre. The NAV of $2bn is essentially based upon a pre VFB world! The discussion is now in a time warp, 12 to 14 months have gone past and hibernation. But we are now coming out of that and with VB now part of the equation the snail speed of exiting management with its focus on technicality and process will be replaced by the drive and determination of Sir M and his team. It is frustrating that procedural timelines have slipped but the prize is huge, it just needs MB to give up his complete control and allow new blood. The fact that VB have come on board to me is an acceptance that the existing management whilst technically competent, live in a completly different commercial world. Incredibly exciting and I would really recommend rewatching and then review the latest post agreement interviews.

Like other posters I raised the question re delay and any concerns a few days ago. Just recieved a reply that all as assumed and we should hear confirmation etc...

I suspect the delay in finalising legals and appointing Sir Mick Davis to the board as chairman is due to something bigger going on in the background. The seeming cultural change towards renewables and electrification has taken a massive jump over recent weeks since the deal has been signed and I have a gut feeling that terms may be being renegotiated to reflect thi s and expediting of the route map.

With Iron Ore hitting $200 for the first time and steel production shortages Vanadium is only going one way. Add the feverish move towards renewables and demand is really going to outstrip supply. I honestly cannot see a 2 stage approach now for FAR. The economics are such that there will be enormous pressure to jump over stage 1 and either have a hybrid 1 and 2 or go straight to stage 2. Financing should be incredibly straightforward for obvious reasons and VB would I am sure be happy to invest say $50m at 78p to support greater loan facility. Just need first legal steps and then road map can start.

Well done for all the patient LTH's . I have considerably reduced my holding in the new year after a number of frustrating years, and only have a modest SIPP holding. But after a long weight it finally looks like MTR will get the recognition it deserves. !

Unfortunately, it isn,t anything to do with over exuberance or comparisons with other companies it is simply a delay with the nitty gritty of legals and over optimistic timeframe from management. Once the legals have been signed off and a new chairman progress will be determined by the company. As a new investor I can see that Exiting BOD have the technical expertise but lack any sort of commercial nouse. This is why teaming up with VB will be so productive. On a macro level everyday we are reading about the Green revolution and now Governments are being urged to stock pile priority resource such as Cobalt and Lithium, . Copper is moving into structural deficit. You just have to listen to Sir Mick's take on the subject to see the potential. Add to the fact that battery metals only account for 1% of current market for Vanadium with 95% going to Steel production you can just imagine the upside ! However it is just a short time to wait for sign off and then we will see the preverbial road map. I really believe that once the BFS is published which I am earmarking September FAR will look at a hybrid stage 1 and 2 as pressure from the market will drive expansion.