Ann: 2021 BFS Confirms Citronen as World Class Zinc Project, page-117

Honestly, the 8% discount has also been used a couple of years ago with rates and bonds on very different levels.
Saying that I admit I still hold just because I think there is a political interest in developing the resource. US and Russia wave their d*cks t each other over the arctic region and I read the EXIM interest in this way. The risks of developing an arctic mine seem to be higher, however, there are no other typical risks preset in populated areas, so it is not as big a difference as it might look at face value.
If EXIM agrees, the mine will be built, and the share price will rise substantially. If not, the company is done. Clearly, there are investors with no stomach to wait for such a sharp resumé, but I decided to go through this gamble, lol.