Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-15

Exactly, the market price variations for vanadium are of more concern to the aussie miners with higher Capex and Opex figures.
Considering the initial capex is around 200m, which in the big scheme of things for a mine of this potential output, should not be too difficult to fund and we should also be one of the earlier mines in actual production.
That is still 18 months away and I daresay that the Vanadium price cycle will have gone up and down a couple of times during that period.
As long as they are able to capitalise on the upswings, then happy days.