NPV at say USD20 Vanadium price must be around $1.6bn vs current market cap of $40m !!!
And capex would be paid back within 18 months ! That's using $20 Vanadium NOT the current $30.
Pre-feasibility study used USD13 Vanadium and AUD/USD 0.75, which delivered AUD833m NPV.
High grade, low-cost in safe jurisdiction, TMT has to be a takeover target.
Zen