@db25 if it was lowest quartile in the 2019 study it's a...

@db25 if it was lowest quartile in the 2019 study it's a logical assumption that even though it's 2023 and we have had significant inflation it's gonna be common to every project and existing producers and it's very likely we will still be bottom of the cost curve come 2023 and therefore a viable project.

id say price assumptions in new study will be an inflated value compared to 2019 so numbers will prob all end up very similar especially when you factor in ilmenite credits.

largos opex is currently $5.60 there best days in regards to recoveries are probably behind them as there grade depletes. mind you it was $3.30 in 2019 so highlights my point inflation effects the existing producers also.

we all know TMTs economics are highly leveraged to vanadium price. so if you have a long term view the market will be short of supply the economics and payback will be great being a lowest cost quartile producer.

if you expect supply and demand to be balanced don't think the numbers will blow anyone away. that's not why we are here though and that's not the view of RCF or they wouldn't be here

this is so different to 2019 in regards to tail winds in the critical mineral space. cheap gov backed finance is very probable, back in 2019 would of been a different story. VRBs are on the verge of commercialization.

IMO even with inflated capex that might sting a bit, this is a far better proposition in 2023 then it was in 2019 so if you liked the 2019 numbers I'd be buying now.