Em Vigor, page-38

VANADIUM METALLURGICAL TESTWORK
During April 2014, Syrah engaged Chalieco, the international engineering arm of the Chinalco Group, to complete the Vanadium Scoping Study. Chalieco was selected by Syrah based on its experience in undertaking the engineering work on eight vanadium projects in China with a similar ore assemblage to that of Balama (vanadium hosted in graphitic schists). In China, the vanadium is hosted in amorphous graphite (and not flake like Balama).
On 8 April 2014, Syrah announced that metallurgical testwork to date has shown that the vanadium reports to the tailings during the graphite flotation process. Assays on the graphite concentrate show that vanadium is below detection limits in the graphite concentrate.
Magnetic rich mineralisation (mainly magnetite and limonite) can be upgraded by 8-11 times to achieve a V2O5 grade of 4-5% by a WHIMS (Wet high Intensity Magnetic Separator). Non-magnetic mineralisation (mainly roscoelite) can be upgraded by 4-5 times to achieve a V2O5 grade of 2-2.5% by flotation. These two processes have been demonstrated to produce a combined concentrate grade of >3% V2O5. The Vanadium Scoping Study has conservatively assumed a combined concentrate grade of 2.5% V2O5.
Chemical processing of this initial vanadium concentrate had shown that a 98.5% purity vanadium pentoxide can be produced.

So two methods, seems Syrah are to ramp up Vanadium when the Graphite becomes a bit more steady state. Also they have produced samples from Balama of 99%+ which is apparently hard to achieve from the Graphite recovered in China. As we are attached to the same resource one could plausibly assume BAT can also achieve that level of recovery. Montepuez? Looking at type of flake in relation to Balama you could probably ditto that.