Thinking about investing in Vanadium miners ?, page-8

it's been noted before that in recent presentations none of the CAPEX and/or NPV figures have been mentioned.
However these have been shown many many times in the past, the DFS and subsequent optimisations done by SMS (last one reported was when they decided to go from two staged approach to single stage approach, as requested by the financiers, kfw)

Isolating this specific issue from all others, I guess it's reasonable to not discuss outdated an CAPEX/NPV while being close to FEED completion and receiving new numbers. Plus a few significant changes like waste water plant etc

Here is the most recent research note https://www.theassay.com/wp-content/uploads/2020/11/TNG-Limited-IIR-Update-Note-Nov-2020.pdf which does have its flaws but it's a good enough summary