Ann: Vanadium Scoping Study, page-61

'The base case used in the study has demonstrated to KRC that improvements in the business case might be made by reducing capital costs'... Yeah, this looks like a pretty big hindrance to developing this.


When the only 2 $ figures used in the scoping study update are for capex and a vague concentrate cost (is this just the individual processing cost of 1t of material or the entire cost from digging up 1t of material and processing it to concentrate?), then you must wonder what there is to look forward to. No guidance on opex for V2O5 product? TiO2?


So little detail, so many red flags, 5 years to full production all things going to the current plan. I would assume every chance the V2O5 price will be significantly lower than today's in 5 years time. WHat would this do to a projects IRR with capex this high?


IMO for vanadium explorers/developers looking to do well over coming years, minimal capex and time to production are 2 critical factors. To me this ann shows investors here have gotten caught up in the hype and there is minimal chance of recovery. Many non holders/critics expected a very large capex, here it is. Even at $1b capex, the opex would have to be very, very low just to give it a chance at proceeding, let alone be successful IMO.