"What you call dishonesty and lies I call optimistic...

"What you call dishonesty and lies I call optimistic projections.
Seems standard form for junior miners."

As an example this is what AVL was telling it's shareholders in May last year

https://hotcopper.com.au/threads/ann-corporate-presentation.4770493/#.Xx-IrVrivIU

And this now!

do not advertise external links.au/...-long-life-vanadium-project-in-wa-925094.html

The company’s key driver going forwards is to deliver a bankable feasibility study for the project with an operating cost that can withstand the cyclical lows of the vanadium market.


Bankable feasibility study

The company’s key driver going forwards is to deliver a bankable feasibility study with an operating cost that can withstand the cyclical lows of the vanadium market.
Algar said: “Because of our desire to get to bankable level for the study, we are taking a little bit more time but our timeline in terms of financial close remains between July and December next year.
“That’s where we feel having had all our work completed to the level where we can attract interest from a bank and also most importantly, have them complete technical due diligence on us with a high degree of satisfaction.”
The timeline includes approvals, mining licences, the finalisation of the study and some partial, preliminary due diligence completed on the project – rather than at the end of the study.


The long game

Algar said that the company was working on ensuring the project was economic and robust for the long haul.
He said: “This is a long project, 20+ years, and the refinery and processing component of this plant could last 50 or 60 years based out of our location near Geraldton, so it’s very important from an economic point of view for that region and for the country.
“It’s a long-term play, so that’s the view we have to take, because we don’t want to build something that will be struggling all its life.
“It has to be profitable at every single market and that’s our challenge and that’s our objective in how we want to run it.
“We might appear to not be in a hurry, but we are very driven, we want to do it right and we want a good return on investment.”


Heaps of stuff was suppose to have happened last year I don't think any of it's happened and now they say they're doing a BFS so financiers can do their due diligence in the future!
MOU's for finance was on their timeline for August last year.
Not making a comment on the rights and wrongs of AVL just showing what is!