Underground mines often have high costs of production, also very expensive drilling is required to prove up an underground resource before mining starts.
Look at DCN for an example of what can go wrong when a "high grade" underground resource isn't up to scratch once they start mining it. Very, very risky.
This is what they were saying in 2015.
This was the result 5 years later.
$0.30 party, page-27
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