putting a value on lounge lizard

I have trying to figure out what they might get for Lounge Lizard. Some have touted 100-160 mill. So, I am going to calculate what I think it's worth by applying the following discount method.

1. High grade - indicated by 80%
2. High grade - inferred by 85%
3. Low grade - indicated by 90%
4. Low grade - inferred by 95%

Source of tonnage - Infomine

IGV: 152kt Nickel x $18,600 per tonne (street) @ (100% grade) = 2.872 billion USD

Now with discounting applied:

1. 8.6kt
2. 2.355kt
3. 5.640kt
4. 1.875kt

IGV: 18.5kt Nickel x $18,600 per tonne (street) @ (100% grade) = 344 million USD

KZL have invested 60 million or so but I think they might get closer to 177 million for it as opposed to the 100 million.

I don't know who calculated this 100 million AUD number but it seems quite low.