I would encourage you to read the Full Year Statutory Accounts...

I would encourage you to read the Full Year Statutory Accounts published on 26/09/2018.

In this little gem of a document you will find a line on page 30 named "Impairment Reversal" with a value of $14,694,964.

In mining accounting an "Impairment of Exploration Cost" is when a project is deemed no longer viable and the exploration costs are removed from the company assets.

An "Impairment Reversal" is when the project is viable again. If the company has not disposed of the project it can restart it and the passed Exploration Costs will come back in the company assets via a cash flow line which in this case is named "Impairment Reversal"

Now the astute observer that you are will notice a "13" in between the name of the line and its value.

This refers to Note 13 located on page 54 of that same document

At the bottom of that page you will read the following line:

(II) An impairment reversal in relation to Barrambie Titanium/Vanadium Project has been made during the year. The market conditions that existed at 30 June 2012 when the impairment was made are no longer present. The Vanadium commodity price is approximately 3 times higher than existed in 2012. Accordingly, the impairment that was recorded in 2012 has now been reversed

Vanadium Pentoxide was at $5.8/lb on 06/01/2012. It is now $12.1/lb as of today with a high at $28.6 on 06/12/2018.

I do not know the minimum price necessary to make a project viable for NMT