Ann: Windimurra Project and Forecast Update , page-4

also saying "we have iron tailings at 52% Fe and people want minimum 55% Fe" isn't really an option for the vanadium processing plants work.

like it or not, if you feed it the magnetite concentrate with 52% Fe, 1.2% V2O5, and 15% TiO2 and take out the vanadium, the magnetic tailings you get are 52% Fe, 0.3% V2O5, and 15% TiO2. i don't see what grade control they can run on the tailings to select out the higher grade portions, if there are any. if they try to selectively mine for higher iron grades in the pit they will lose vanadium and increase strip ratio.

either the market comes down to meet them at 52%, or there is no market.