Yet somehow annual global demand was 124,000 tonnes in 2023, despite your low number...
"global annual demand of 124,000 tons."
https://au.finance.yahoo.com/news/t...7JC_SLFgYARgr7nrhonpF34Dp4hAh9IrJnp25VQH_BWP6
That took about 5 seconds to find, which is proof enough you are just deliberately down ramping. If you had done a little research yourself you would have already known demand is growing.
The time value of money assumption assumes more of whatever commodity will be found, keeping the value 'relative'. It never assumes a commodity getting scarce. It's standard economic thinking of MORE or an easy substitution.
It is totally illogic thinking on a finite planet, and as we have only the second discovery of high grade ore in 70 years, only stupid people, or deliberately agenda driven people, would think there are lots more high grade Niobium deposits to find out there, as company after company are currently finding out with their exploratory efforts coming up empty.
(20min delay)