Best chart for ages, page-285

@shareholder1

Couple of things to note apart from the grades.

Also need to take note of how deep the deposit is. Shallow, close to surface means cheaper to mine with open pit rather than expensive underground mining with higher capex and opex and most likely longer to get into production.
Also is the deposit close to existing infrastructure? Again capex is reduced with existing infrastructure in place.
Thirdly, whilst AKN has some very good grades there's a question mark around can the Copper be processed. They're undertaking MET tests currently to determine whether it can be processed using a particular method, hence the lower MC for AKN until it's MET tests confirm the viability of their project.

As for grades, the higher the grade the better, and closer to surface the better.

Easier and cheaper to mine 86m @ 4.83% Cu from 121m as with MAN than 41m @ 4.1% Cu from 247m as with CNB.
Or 34m @ 3.01% Cu from from 18m for MAN compared to 124m @ 1.05% Cu from 8m for AKN due to increased cost of extraction over significant widths at lower grades.