Rather bullish report just out. Initial resource looks impressive with good recovery rates. The Barrambie project has 23mt at 0.8% vanadium which sells at US$7.50 per pound. My estimate is that at say 50% recovery (less than initial test results) on 192k tonnes that's 96k tonnes worth close to A$2b. They plan to produce 9,000 tonnes per year worth $198m. Profit??? ... possibly $80m+. Once this operation is approved (a while yet) the share price should go a lot higher.
One to watch IMHO.
H
outstanding vanadium results
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