Fezza, there are a few less-than-diligent journalists around who imagine that a billion-tonne orebody means a billion tonnes of vanadium. The portion of Balama drilled to date (totalling 1.15 billion tonnes) averages about 0.3% V2O5, while the richer zones (sufficient for the first two or three decades of mine life) are around 0.4%.
Not much point in proving up more ore at the moment, but, if the vanadium demand should go through the roof, as suggested, then Balama is likely to be in a good position to provide much of the needed supply.
Cheers, Prime1
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