I think you should take a look at the grades again... You mention %MOS2, and in fact LWC's grades in %MOS2 are pretty much identical. The lower value they report is the the %Mo, which has been averaging a bit less than 0.04%.
However, grades are not the issue. What is important are costs. Davis has said their grades translate to about 1lbMo/tonne. All that matters is how much it costs to mine that tonne and how much moly is in it.
Even with the low grade, this mine would be highly profitable, and this has a lot to do with the increase in the price/lb of moly, and the low mining cost of a shallow open pit mine in an area of BC with good infrastructure.