Ann: TNG Mandates KfW Bank for Debt Finance for Mount Peake, page-72

Simple economics 101 : http://www.tngltd.com.au/images/tngltd---geeleehaip.pdf
Project profile shows total production of V2O5 estimated over a 17 year mine life of
243,000 Tonnes.
V2O5 is worth US$26.70 lb, US$58.86/kg, AUD$81,500/Tonne
OR
$US14,302,980,000 / AUD$19,804,500,000

That is before any value adding such as Ferro-vanadium or Vanadium electrolyte.
This doesn't include what was in the DFS as their highest income generator - TiO2.

The Market Cap of this company is under $100M