I think the real issue is that the BFS published in Apr'22 has vanadium priced at A$32,141/tonne whereas todays equivalent price is A$24,044 which is 25% below the BFS and probably eliminates the BFS NPV of A$833m.
I would also say, even since April, the capital costs of the project would have increased so the risk in the project is probably too great at the current vanadium price to proceed.
However this vanadium project is the most advanced in Australia and has a reasonably high grade deposit.
The real question is when will the demand come which in turn will drive the price higher.
Cheers......D
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