New closing HIGH, page-164

Agree with all your comments except maybe about the PFS being a trigger for a producer to put in a bid .

The ore body looks so darn homogenous , contiguous , wide , long in strike , high grade , deep , its not like its that marginal that a 0.5 gram a tonne difference in grade or 500 k tonnes of ore is going to make an iotta of difference to an NPV , especially when they are hitting big grade/M intercepts 130M below the MRE that throw the estimates all out ,
these producers will have enough data from SPRs drill holes to work into their mining software the tonnage and grade independently surely ?
Also no need to calculate CAPEX of a mill in their estimates .
Maybe Becomes more a matter of being able to hedge say 300k ounces at spot for the bidder to cover finance ?