Whatever your view Zen, and it is important to take one... V price will go up and down over time.
A single forward price can't accurately predict profitability, making NPV academic with a fixed price model.
There'll be some year's profit averaging $2 / Lb and others over $10 / Lb.
Run your numbers on a series of price movements over time and critically analyse your assumptions. You'll gain a great understanding of the risk / reward profile. You might see TMT's leverage to any upside Vanadium price scenario.
Wait till the V price starts moving if you want confirmation!
TMT Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held