Ann: Steelpoortdrift PFS delivers superior results, page-340

Cant say until an actual PFS is released by QEM and KRR. KRR has changed its path towards HPA to generate quick FCF.
QEM is about to take delivery of its very own pilot plant (PP) to investigate the economics of hydro metallurgical processing of its shale vanadium ore - note its ore is shale based as opposed to hard rock vanadiferous titanomagnetite ore - completely different hydro-metallurigcal processingn route and economics.
However, some focussed research will reveal the following:
AVL (vanadiferous titanomagnetite ore @ 1.03% V₂O₅): C1 operating cost of US$3.66/lb V₂O₅ competitive with world primary vanadium producers, includes iron titanium (FeTi) coproduct credit (US$0.49/lb V2O5).
VR8 (vanadiferous titanomagnetite ore @ 1.07% V₂O₅): C1 operating cost of US$3.08/lb V₂O₅ without any titanium or iron credits
KRR (vanadiferous titanomagnetite ore @ 0.3% V₂O₅ with high Alumina content): The hydrometallurgy would be vastly different due to the alumina content. The process would generate V2O5, TiO2 and high purity Iron Oxide. I dont have a processing cost per ton, but TNG Ltd does.
TNG (vanadiferous titanomagnetite ore @ 0.28% V₂O₅ with high Alumina content): OPEX (including all reagents and processing) of AUD 185/ton of ROM. The 1 tonof ROM has the following grade: 0.28% V2O5, 5.3% TiO2 & 23% Fe. With this low grade, they expect (based on DFS) a Pre-tax net annual average cash-flow of AUD 738 million.

So, you can see that even with grades of 0.28% V2O5, the economics holds very well. In which case, it should also hold well for QEM - dont forget they have about 738 mmbbls of oil in their shale ore, so its a dual commodity ore.

So when you state "I'm pretty sure the low V grades for QEM and KRR made them uneconomical deposits due to the expensive nature of mining/processing V??", you need to thoroughly research your statement before. There's no point making a statement like that and then writing in an all encompassing caveat saying - oH but I may be wrong as I havent researched it.

Anyhow, its now been researched