Latest Anderson JORC refers to between 12 and 8 Mlbs of V2O5, stating that it is only a suggested quantity, that further drilling may not define the resource (ever?), and that no work has been done on the metalurgical recoverability of vanadium at Andersons. Looking back at the August 06 Valhalla resource ann, again, states insufficient assays to confidently estimate Vanadium resource, but suggestion of 2.36lb/t (0.11%) which would be 272 Mlbs x 50% JV = 136 Mlb.
1) Does everyone ignore Vanadium value because it is not properly measured, or because the economics of recovery has not been calculated, or because its a neglible by-product.
2) Is V2O5 US$6.50/lb? If so, that 136Mlb is another A$1billion in the ground. Does anyone see an error in calculation of quantity? Does anyone have a feel for cost of production of Vanadium?
Discl: SMM, HTM
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