Yes, but my understanding is (could be wrong) that when they go to do financing for building mines they take the average price of the mineral over the past several years to be safe, not a prediction of what the mineral might be worth several years from now. (institutional lenders are so stodgy and boring and practical sometimes, no? LOL)

I believe this is the problem that many of the Gold juniors are having, they can't get financing based on $500 gold, when in reality Gold is trading much higher than that and projected to go way up.