Their resource at Korbel is much lower grade with average grades...

Their resource at Korbel is much lower grade with average grades of 0.3g/t. Should also note that they are only aiming to achieve a production profile of 100koz x 10yrs from korbel, however, this will be heavily reliant on an ore sorting strategy which likely see much higher OPEX and AISC compared to something that can be conventionally processed.

We're aiming to achieve the production profile of 100koz x 10yrs from Only Ternera but it won't require any ore sorting. Instead, processed through a really simple & conventional processing circuit.

If we discover additional resource outside of Tenera, it may contribute to increasing the production profile, say from 100koz p.a. to 150koz p.a.

Resource valuation per oz is a byproduct of a future NAV valuation of a deposit divided by the total resource. It just a a quick high level evaluation metric.Not all deposits will have the same $EV/Oz resource.