Additionally the processing methods are completely different...

Additionally the processing methods are completely different (conventional flotation vs flotation/CIL). I'd be very surprised if they can successfully float 0.15% Cu anywhere near their predicted recoveries of 83.5%. Given that such a large percentage of their assumed revenue comes from copper credits this is a major red flag.

Another concern is their assumed operating costs. $3.30/t (mining) and $10.60/t milled (processing) seems pretty unrealistic based on a review of similar projects. At such a low head grade (0.26g/t) even minor overruns on these costs will result in massive increases in AISC.

Drill intercepts not showing a low of promise at depth, and with these sort of porphyry deposits the infill potential to improve the grade of the known Resource is limited. ALK can spin this how they like but as an investor I'd be looking elsewhere.

Factor all of these points, as well as the prohibitive startup capital costs and IMO this doesn't appear to be a very compelling investment for a third party.

DYOR.