From the Federal Office of The Chief Economist we have more...

From the Federal Office of The Chief Economist we have more evidence why this needs a full investigation.

In the most recent Resources and Energy quarterly the Chief Economist detailed the Todd Corporation/Flinders Mines Pilbara Iron Ore Project as being a 15 million tonne a year new project in the feasibility stage with an indicative cost of $726 million employing 850 during construction and 490 when operating.
Also detailed is the Todd Capital Balla Balla Project (Phase 1), 45 million tonne a year, $1.8 billion-$2.2 billion new project.

I would take a guess and say the 15 million tonnes of PIOP "Low Grade" will be used to blend and beneficiate with the Balla Balla ore (to 60+%)which will be useless after the vanadium processing and so needs to have some value added to dramatically cut the costs.

It again appears more has been going on than what small shareholders have been told and I would dare say this is what our $10,000 man has been working on.

https://publications.industry.gov.a...cesandenergyquarterlyseptember2018/index.html
(click on "Major Projects Data")