You are right. But how long do you think it would take to spend 4 times the $90M with a 75% earn-back? Probably could spend it in a year or so if they put their backs into it - spending on big exploration/definition drilling, new condemnation drilling, road/bridges, advance engineering, metallurgical studies, new camp, new airstrip, decommissioning the old camp, surveying, depot/reload station at the Hwy, etc etc. Expenditures will accrue pretty fast on the way to spending the $3.3B capex plus exploration over the next 5 yrs or less. jmo