Your calculations ignore the fact that the Au$ is now less than 75% of what it was. Also you ignore the proportion of cost that is in Au dollars in any case, wages etc. Tax is a fair proportion of total costs and I am not sure whether that is in cents per litre or a percentage amount. However, I have no doubt that the oil companies crib a bit towards profit whenever they can.
Roskill Publishes New Market Outlook for Vanadium; Warns That Supply in China and Russia may Offset, page-10
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