Great article, everyone should read this to get a basic...

Great article, everyone should read this to get a basic understanding how a mine life works -The mining lifecycle-
In my opinion one of the best written articles from Market Herald (it's not always like that).

Then these Info's for VR8
"VR8’s opportunity at large as it targets production
Steelpoortdrift is host to one of the world’s largest undeveloped vanadium deposits with a mineral resource of 680 million tonnes at an average in situ grade of 0.70 per cent vanadium pentoxide for 4.74 million tonnes of contained metal.

The project has a proven and probable reserve of 77 million tonnes at an average in situ grade of 0.72 per cent vanadium pentoxide for 0.55 million tonnes of contained metal. At current throughput rates, the mineral resource has a life of more than 180 years.

Having powered through its feasibility studies, Vanadium Resources is working towards a final investment decision (FID) and is exploring potential funding options to carry out the pivotal stages toward production.

Vanadium Resources said it was currently engaging with multiple interested parties in Asia, Europe, North America and South Africa to secure project financing and offtake agreements for the Steelpoortdrift vanadium pentoxide flake.

An offtake agreement is where an agreement that is struck whereby a buyer/trader agrees to purchase an amount of future production from a mine at either a fixed price or at an agreed rate relative to the commodity price. A miner might choose to opt for this as it locks in a volume of future sales and revenue to assist with raising debt financing.

These discussions also include strategic investment opportunities, potential collaborations to develop downstream processing options, and other financial partnerships.

Having run a process to reach out to various funding groups and potential partners, Vanadium Resources is assessing proposals received on both their quantitative and qualitative impact on shareholders and the project, ultimately aiming to select the right funding cocktail to deliver the mine and processing facilities at Steelpoortdrift.

A significant step forward for Vanadium Resources came earlier this month when they announced a $5.91m strategic placement to Matrix Resources at 11 cents per share, which represented a 40 per cent premium on the 30-day average share price. The placement was completed on May 26 and the company is progressing into offtake discussions for 40 per cent of the Vanadium products produced in phase one of the Steelpoortdrift project.

The placement and potential offtake to Matrix Resources provides validation to the project and assists with future funding as Matrix looks to maintain its shareholding as the project progresses.

The demand for vanadium is rocketing, so when in production, all involved could reap mighty rewards.