... and all based on $3 copper.

It sounded to me that more work needed to bring inferred to M&I, as this was boldly stated early in the report:

"The results of the PEA are preliminary in nature as they include an inferred mineral resource which is considered too speculative geologically to have the economic considerations applied that would enable them to be categorized as mineral reserves. There is no certainty that the PEA forecasts will be realized or that any of the resources will ever be upgraded to reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability."

I did like this part as I had concerns about water availability. I think this is a HUGE plus for the project:

"The ISL operation is expected to operate with a net water surplus, however, if water is needed to support operations, it will be sourced from groundwater in the alluvium unit which supplied water to historic leach operations in the order of 250 to 500 gallons per minute ("gpm")."

To me the $64000 question is: Is it saleable now or is more work needed first?

We have no more money to alocate to this project, IMHO.