Referencing the NI43-101 and doing some math
First some notes.
Vanadium is priced by purity for example Ferro Vanadium, Vanadium mixed with Iron and normally used in Rebar and other steel strengthening applications is priced at about $118 per ton the purity is around 30%t to 85% Vanadium.
V2O5 is a much higher purity, about 98%, Vanadium and would be the type of Vanadium used in Cellcubes system. The price (I checked today) is $23.60USD in China.
V23 will have to dilute to get the cash to pay to build the mine infrastructure and pay staff including the C-suite executives. The good news is the mine will probably be open pit which is cheaper to build and run in comparison to an underground mine. We probably won't know the cost of this until the PEA comes out. (Preliminary economic assessment)
Cellcube will end up owning 19.9% of the mine and will have a take off agreement that we don't know the details of yet.
The NI43-101 is based on exploration of a mere 10% of the property.
Indicated and inferred resouces of V2O5 is 18,927,646 tons at a grade (the lower one) of .39%.
2000lbs X .0039 = 7.8 lbs per ton.
Pit leaching that result obtained 90% recovery in bench testing in a lab
7.8 X .9 = 7.02 lbs per ton
18,927,646 X 7.02 = 132,872,074 lbs
132,872,074 X 23.60 = 3,135,780,968
3,135,780,968 X .8 = 2,508,624,774 (V23's share)
3,135,780,968 X.2 = 627,156,193 (Cellcube's share)
So does that seem worthless to any of you?