Ann: Mt York Scoping Study Results, page-4

At the very least this demonstrates KAI is cheap.

Based largely on the 690 koz indicated resource the SS shows there is potentially more hidden value in the inferred 697 koz.
Additionally proposed drilling has the potential to increase the resource to over 2m oz.
Solid margins from a low grade resource have more upside if gold continues its long term uptrend.

The study seems reasonably conservative and without taking into account other underlying potential in the REE discovery, under explored tenements, cash/ PLS shares, future royalties, etc KAI looks severely undervalued.