"SC is proven at the FS level (look how much different than our PEA) and VD will only be at theRE/pre-PEA stage. The firmer/more proven stage of the project, the higher the %? We did buy it based on the historical estimate for a million and change. The RE and upcoming PEA will add value but still isn't nearly equal a full blown FS."

I don't understand the correlation here. What does any of our evaluation (this method of resources * a %) have to do with a FS or PEA even for that matter? It is just based on the Resource estmate and paying a percentage of the amount. This is why I said before (different thread) that you can do it on VD or CXM using old numbers, but it could be inaccurate. This could also go up though and by no means has to go down, but what was posted still holds, not sure how it is apples to oranges. If anything is apples to oranges it is the mining method, and as solution mining is often chaeper, there could be a higher margin meaning the percent used could end up being justified as higher than 10%, as where SC costs more to mine and 10% could be high as you also have all the operating expenses and construction taken from the cost of copper and the 10% you already payed for it.

No need for a FS or PEA, just a resource estimate. We could have done those numbers on SC long before the FS was released. We had the same information we used.