Vanadis IPO, page-256

These numbers are old numbers and they were also reported in May this year. The announcement in May also says 'the observed results demonstrated that the Häggån Black Shale could be expected to behave as a typical mica-hosted vanadium resource similar to currently operating projects elsewhere'. The updated scoping study is overdue now. 

www.auraenergy.com.au/investor/ASX%20Announcements/2017/High%20Grade%20Vanadium%20Zone%20Defined.pdf

'Mining and processing methods and parameters Given the flat lying nature of the mineralisation and the low overburden to resource ratios the resource is very well suited to standard open pit mining. A significant volume of test work has been undertaken on definition of vanadium deportment and process behaviour, and for the other resource metals. This demonstrated that vanadium is present mainly in the form of V(III) hosted with the mica mineral roscoelite. The results of testwork involving cyclone de-sliming of ground material (carried out by Australian Nuclear Science and Technology Organisation (ANTSO) in 2011 indicated that upgrade of 1.35 times vanadium feed grade could be achieved with 73% recovery and rejection of 45% of feed mass. Extraction of vanadium was shown to be typical for a mica mineral host in Black Shales. Minimal vanadium extraction was observed in atmospheric acid leach. Recovery of up to 59% vanadium has been achieved by salt roast and acid leach, which compares favourably with industry average recovery for this process option of 50-55% vanadium. Acid pressure leaching has shown to be the most promising processing option, with 61% vanadium recovery from un-optimised sighter tests. The observed results demonstrated that the Häggån Black Shale could be expected to behave as a typical mica-hosted vanadium resource similar to currently operating projects elsewhere. Testwork is continuing to determine the optimum metallurgical flowsheet'