With Vanadium credits, the production cost for Tiris Uranium could drop significantly? Just back of the envelope figures but 800,000 lbs U3O8 @ $19.40 = $15.52m ... 250,000 lbs V2O5 @ say $15 = $3.75m.
Therefore $15.52m - $3.75m = $11.77m divided by 800k lbs = $14.71
Vanadis IPO, page-97
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