2.5% is usually a figure the market uses to determine in ground resource value at MRE stage. It increases as certainty of production increases, it usually rises to >5% from DFS stage onwards. Basically it is a guide to what a TO price would be.
West Australian gold explorers have an average resource valuation of 2.32% and lithium explorers have a similar figure once an MRE has been determined.
Investors make decisions on likely SP projection based on likely MRE figures.
Let's talk DSO, page-106
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