Niplats does have Australia's largest vanadium resource...

Niplats does have Australia's largest vanadium resource currently so the economics will likely stack up better due to a longer mine life than other plays.

WVL failed to raise finding probably because of the GFC. I don't think MXR ever had a resource?

Anyway NIP is years from any vanadium production so should find themselves on the right side of the GFC, and have a valuable fluorite resource which should hopefully provide a handy cash-flow when the time comes.

Yes we are waiting for PGE assays, and I believe the field work for the coming season will be to size up any reserves.

To write off Niplats from the comfort of your desktop PC is a mistake IMO.