Honestly i'd be pretty shocked if they aren't on the exact same page as you, find a 25-30 year best ore project, and worry about the other 50 years down the track..
If it means a complete overhaul of the processing facility in 25 years to transition from premium ore to oxidized, so be it, who knows what the vanadium market is like then, but I would feel it's a mistake to incorporate too much of that into the project they are taking to the banks in 2024.
But who knows... I think the call of 20 years of ilmenite rich recoveries might be pretty optomistic, but I think TMT could have gone from 6years I think in their DFS to 8years with the extra drilling they did, if AVL just brings it up to 10 years, anything above that for me is a bonus and would already take years off the payback period.
Back to a waiting game, just hope 2024 has a few big ones and not just another year waiting on studies.
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