The link below gives magnesium's prices per pound - presently $2.00 to $ 2.20 – but, for high grade 99.9% pure magnesium.
If the quality of Victory's MgO can be similarly produced as in the first link, it might have a value of ~$22 million. I wonder if Victory can find a process to produce a form of magnesium as described in that link?
Victory's - 2009 DFS – indicated that Outotec's HydroNic a chloride hydrometallurgical process, is being evaluated to determine whether Minago concentrates can be treated using this technology. The process could improve recoveries and treat MgO content. Metal could be produced on site to eliminate smelter charges and significant freight costs.