Ann: Grant of Mining Lease for Agate Creek Gold Project, page-61

eastwest101.  Fair go, Scott was quoting from an "early 2014 update",and  did not include the "outstanding" results from the latest 51 holes,  " The objective of the drilling program was to improve the geological confidence of the high gradedeposit that is planned to be initially mined once the Mining Lease is granted.✚ Results confirm the high-grade nature of the Sherwood Deposit and highlight the broader potential ofthe Agate Creek project which includes the Indicated and Inferred Mineral Resource containing 381,000oz of Gold at 1.4 g/t currently outlined.

It is far too premature to start talking about numerical estimates, such as, "say, $3 million", until that 100,000 is fully processed, or, why not "say" that that 10-11gt from the 5,472 tonne, 2014 test run shouldn't be the base factor, and after those latest results, maybe those are even conservative?
Let's use facts and not guesstimates, starting when that processed 100,000 tonne deal is completely analysed.

They will certainly be working on the next run ASAP, when they've got some cash, and drilling as they did with those last 51 holes to confirm where that next lot will come from. Also, due to the reduced "mining" seasons, brought about by the perennial "wet seasons", much work would also need be done to stock pile as much as possible at Black Jack and that won't happen if the grades found in the first lot don't hold up. This 100,000t will be critical for all concerned, LNY, their shareholders, Maroon and their shareholders.  It's a dead set wait and see and guessing is irrelevant.