In the October 121 presentation Paul Vollant said the following...

In the October 121 presentation Paul Vollant said the following :
we will also produce about 11,000 tons of Ferro vanadium ... that is a keycomponent to the steel industry the strengthening agent for steel and very high value I will discuss a bit later

This amount if 11,000T is close to their stage 1 projected production of 11,500T per annum or just over 95%
95% of 243,000T of vanadium is 230,000Tonnes of Fe-V give or take.
At a current value of US$109.50/kg
USD$26,608,500,000
AUD$36,811,529,000

https://www.vanadiumprice.com/

Seems to me like TNG just let the cat out of the bag folks as even the DFS did not mention Ferro-Vanadium production.

How can they not sell this to the public - these numbers are easily quantifiable.
TNG have got the technology agreement & offtake in place to do this.

TiO2, Pig Iron = bonus income.