Capex was always going to be up around there.
There’s a reason there are no vanadium mines causing huge deficits over the next 2-3 years. They aren’t exactly cheap.
The numbers stack up very well I thought. They have been conservative with the tonnage size but this is the base case. Overall the project breaks even with long term pricing at $6.95 usd for the life of the project. I thought it was an impressive base case.
Ann: Gabanintha Presents Robust Base Case for PFS, page-13
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