Ann: Higher Vanadium and Iron Concentrate Grades in Testwork, page-15

So are you saying when 62% IO is at us$130 p/t it's viable?

Blocks 70 and 80 have a combined ind/inf resource of 30 mt = 20 years of milling, including commissioning at 1.6 mtp/a.
IF the IO % is around 60% in blocks 70/80 then this can only increase the viability of Tenindewa. The AVL DFS has 55% IO in the concentrate.
FEX trucks 63.5% IO 490km to the Geraldton port and makes very good money. FEX C1 cost crushing, transport and port logistics $77 p/t. I hold FEX shares.
Some figures as a guide.
Haulage to refinery 445km......$70p/t.
Haulage to port .........................$20p/t.
Geraldton port...........................$10 p/t
Total............................................$100p/t
Say 60% IO us$90 p/t* 1.50 = a$135 p/t
Then there are the savings .
No Fi/Fo.
Gas tariff roughly $6m p/a
Lower transport cost for reagents.
No need for a second tailings dam at the minesite.
Plus the WA govt would like it for the royalties.
And H2 as a possible energy source if BP builds their plant. AIMO.