AVL Chart, page-3027

Yes it’s an interesting idea to compare the Vanadium ore in ground to a gold reserve, other companies mining metals try this as well ,such as in copper,silver,nickel.
It must be remembered however that vanadium is quite difficult to recover from ore compared to other minerals. Probably why miners are wary of it, and why we find ourselves with only 3 vanadium magnetite mines in the world right now...
AVL have stated that in the high grade zones the mass yield ( the actual vanadium recovered) is around 60% for the mining pit.
While this is high compared to other vanadium ore bodies , it’s low compared to gold where recoveries can be up to 98%. So a comparison on direct tonnage does not really work. You would have to reduce it by about a third I’d guess to some sort of parity.Cheers!