As I recall the value of the POG used to calculate lost profits is set at the time of the event that caused the default, not the time of filing the claim. There may be several events that constitute a default but once KRY files, you can be sure that the Venezuelan lawyers will argue for the first possible event (and there are many to chose from) to get the lowest possible POG for the ICSID to work with.

Don't get too carried away in regards to the "loss of profits" in regard to the total possible resource even if it is 30 million ounces. The loss of profit will be calculated from expected production of the submitted plan for a 20k tpd operation over the length of time that permit had to run. From memory that was something around 300,000 ounces a year for about 8 years. The ICSID won't speculate about plans to double up production later or possible extensions in time so don't expect to see profits calculated at any "possible" maximum return "if" the plan was doubled or the period was extended; it will just be worked out on the plan as submitted for permitting and the engineers and accountants figures for that plan, less a "time of money" discount.

Regardless it is still a reasonable figure once you add the costs expended on Las Cristinas which should be able to be claimed in full plus interest.

GRZ would be working from a lower POG and POC price but their plan submitted and approved was for a 70k tpd operation (around 500k ounce of gold and gold equivalent per annum) so their loss of profit calculation is likely to be higher. It matters not that Brisas grades are lower; what matters is how much production they could expect from the actual plan they submitted for approval and the engineering and accounting that backs up that figure.