Mark Smith vision on to profit from VRFB Matthew Gordon of Crux: You are one of the few companies in the vanadium space which isn't trying to push me with the VRFB story. Why is that?
MS: To the extent that that is the impression I left, I apologize. First of all let me be clear that Largo really likes that industry. We support that industry. We see that as an unbelievable demand growth factor if we could get it off the ground but probably we have right now is the battery industry really needs low priced vanadium and that’s not my business. My business is high purity, high premium type products that I want to sell in a market that has to have those high purity products.
Matthew Gordon of Crux: So your focus is on attaining price and margin; it doesn’t matter to you where from. If the battery guys get their act together and it works at a price that suits then you will sell it?
MS: Exactly. We will be right there. If we have been working with probably over 9 different battery companies just to get you a sense of our level of support and our level of interest in this, every one of them has tested our material and our material works in every single one of their batteries, to be clear a lot of other vanadium manufacturers can not say that. So we’re really proud of that right now…. That you subsidize that industry.
Matthew Gordon of Crux: I think our viewers should pay attention to that point because you are the only company in this space which has made that point that you’ve to focus on margins and not necessary the market and a lot of companies and your competitors are spending a lot of time and effort and money trying to work out how they enter that space and I’ve wondered why at this early stage they spend their time and money to do that but I guess we’ll step back and see what happens
MS: …. We are very excited about it but you know I gonna sell my vanadium to the highest premium market I can find.
Matthew Gordon of Crux: That’s once again something subscribers and investors should note. You know early-stage projects cost money; and that is where the costs come in. You are saying we’ll let people do that; that sounds very exciting and if the price is right we will eventually step in there but for now we’re focused on the money. Lovely…..