"NVM was actively mined by open-pit and galleries between...

"NVM was actively mined by open-pit and galleries between 1949-57 and produced vanadium pentoxide from an onsite processing facility. Within the 53-hectare project area, there are several vanadium-rich polymetallic sheeted vein systems, aligned North-East to South-West, over a mineralised strike zone that is up to 1.5Km in length and a vein width of up to 5.5m wide. However, only one vein was partially-exploited which left most of the deposit intact."

it may be that the smaller, high grade deposits, with proven production history can get future production, with a reasonable capex requirement.

noting KRC is getting dumped today over its 2.5b capex in scoping study.

Those who can have early cash flow, starter projects are more likely to fund their way up the tree.

"The due diligence teams identified several highly mineralised stockpiles around the historic processing facility and open pit that could readily be utilised as a direct shipping ore vanadium product. Historical sampling and assay results throughout the historical workings produced grades from the partially mined vein that ranged up to 1.9% V2O5 with a sample length weighted grade average of 0.82% V2O5 in the open pit and underground workings. NVM has ready access to mains power and water supplies, while nearby towns can provide supporting services and a skilled labour pool. Further, the transportation infrastructure from the mine to key ports is more than adequate with well-formed gravel tracks, a sealed highway and rail network in place"