Ann: Positive Assays Provide Development Options at Oracle Ridge, page-40

The market hasn't priced in anything IMO.

It hasn't priced in the existing MRE and the likely increases in the MRE going forward.

It hasn't priced in the fact the mine workings and the ventilation mechanicals are essentially developed. All that work/equipment still seems to be in pretty good condition, with economic grades in the existing workings.

it hasn't priced in the fact the grid connection is there and they are plugged in for power.

If they answered the questions on where they are going to start driving from to mine and in what sequence they should do that, they could be sending crushed ore for toll treatment at a nearby facility (assuming that is workable on the grades and equipment availability) pretty quickly. They could conceivably be doing that, earning some cash and paying for the onsite processing equipment and TSF out of that income, plus the additional exploration and development costs. That's what the feasibility study would be exploring as an option right now. Of course, that may not be the most economic path to success. Alternate paths probably require deeper pockets. Those deeper pockets require higher thresholds with respect to economics.