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Monday, October 25, 2010 1:31:08 PM
Look at a company like Teck Cominco. Yes, they have a lot of different assets. However, their main asset subsequent to the Fording purchase in 2008 is met coal. Teck is once again a $45/share company. Met coal is rare. It has specific uses for creating structural steel. Vanadium is rare. It has specific uses as a component in structural steel...and now perhaps significant future use in energy storage. Of course vanadium can be replaced with other metals in structural steel, but not as efficiently. And you also have to consider that you use a lot more met coal in creating structural steel than using vanadium as a component of it.
Given the huge size of the resource and the assumed ability of ENZR to mine this economically and allow less volatility in the vanadium price, it just may be that ENZR becomes a $26/share company (or something well above $3)). ENZR does have other assets besides Green Giant. Obviously not like Teck, but we're also talking about half the value. I hope I don't sound some starry-eyed dreamer. However, it seems that there are some legitimate comparisons to other companies to be made.
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