Hot Vanadium Stock!!!, page-13

Scribbled down some numbers the other day, if the Chinese work out the vanadium, the SP should 10 bag IMO, yes $2 or MC $320m

I note that Largo's mine in South America produced 15KT of Vanadium in 2017
The cost of plant in 2013 looks about US$250m

If a plant for IRC JV produced the same

15,000T x $US$25,000 per tonne
IRC 25% Gross sales works out at about A$125m,

I note Largo cash costs appear about $8,000 a Tonne, so about 1/3 of the sale value, therefore prior to payback for set-up costs IRC would be looking at about $80m profit a year
Using the 2013 price above (given more expensive in Aust) and use $US$350, IRC would need about $100m for their 25%, but the payback is less than 3 years max based on current numbers.

Perhaps $2 looks a bit conservative, DYOR, I am only guessing