RE:RE:RE:RE:VRICI spoke with George and their CFA (whose name escapes me at the moment) at VRIC. Didn't speak much about Vanadium, more about the current share price and the ablation permitting. He feels that the current poor performance is mostly due to the private placement that was done back in Sept (I think) Those shares have now become free trading and he thinks they are selling off the stock and just holding the warrants. With few buyers to scoop up the shares at the moment its driving the price down.
We spoke about the ablation permitting issues which they are confident will be resolved sooner or later. Something that I was not aware of was that they intend to have the ablation machinery right inside the mine so that they can do the enriching inside the mine and use the waste rock as back fill in the mine.
I asked about what sort of prices he would like before the mines are activated. He said that they could get things up and running in about 8 months after they decide to activate. They want prices to be around $35-$40/ pound to get things going, which puts them in line with UEC. I asked about his opinions on Energy Fuels, since he obviously knows the company well. He thinks that they are also in a good position, although they need around $60/pound to really ramp up production.