I have just been looking back through the Annual Report and in particular at the financials on the vanadium development. My comments are made only on the figures given and I am NOT and accountant.
Total revenue expected is $11.8 bil (usually rounded to $12 bil which is ok)
Pre-projection capital is $563 mil (I presume this needs to be raised somehow before we can start - it includes all infrastructure). How do we raise the capital?
Net annual cash flow estimate is $294 mil (sounds good)
Internal rate of return calculated at 31.8% pa (very good)
Assumes US$ = Au$ (looks ok for the time being)
When will they start talking about the actioning of this development. It will take quite some time after they start talking about it.
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