You are correct HR , They issued a Pre-Feasabilty Study last October so we are waiting
these are some excerpts below from that report .the key thing is at the time US $7.10 was deemed profitable the price is US$7.80 and rising
Pre-Feasibility Study based on an initial 20 year life demonstrating a financially viable
project with the following key metrics 3
:
o Shallow open pit mining producing 81.2Mt at a fully diluted grade of 0.49% V2O5 for
15.8Mt of 1.82% V2O5 concentrate with concentrate production on site
o Refining overall recovery at 86.1% produces 254,000 tonnes of 98% V2O5
commercial grade flake with average annual production of 12,700t V2O5
o Modest up-front capital costs of US$157.4m and operating cash costs of US$5.53/lb
of 98% V2O5 flake
o At current spot price of US$7.10/lb V2O5, project generates NPV8% of US$150.0m
Discussions with potential offtake partners advanced with significant interest received4
Preliminary Environmental Assessment (PEA) Report completed with the joint venture
partners reviewing costs and timing for advancement of the Definitive Feasibility Study
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