Ann: Positive metallurgical results from Richmond Vanadium Projec, page-20

It's probably good so far. KRC got about 2.1% from grind and magnetic separation. IRC have 1.1% from grind and gravity and aiming for 1.5-2%, which is probably achievable. IRC ore is soft and easy to grind and I suspect gravity separation is going to be cheaper/simpler than magnetic.
Being oxidized ore it is going to have significant advantage further down the processing pipeline compared to KRC ore and that's one reason why AXF/Chinese are all over it committing to further expenditure progressing the project toward production.

"Initial development work will focus on the upper mineralised zone at Lilyvale as it:

• Is the highest grade based on the drilling to date with the mineralisation 4-5m from surface
• Can be mined simply by free dig open cut mining at very low strip ratios
• Is amenable to low cost removal of the coarse fraction via scrubbing, trommelling, screening,
cycloning and flotation to produce a high grade intermediate feedstock grading ~1.5% - 2% V2O5.
Metallurgical testwork continues at two research Laboratories in China to further assess the
optimal upgrade ratios and recoveries.1,2
• Has been subject to extensive downstream processing testwork for metal extraction.
• Is close to road and rail infrastructure, ports and Asian markets"

Not in the middle on nowhere with no hope of being developed. A bonus for IRC holders as no value is in mcap for it as illustrated by zero interest in the announcement.