You clearly haven't factored risk into your equations. I'd much...

You clearly haven't factored risk into your equations. I'd much rather a smaller return (%) with a much lower risk profile than the opposite to that. G1A is valued differently because the risks are so different. This is still very much in the realm of speculation but it's very close to further derisking events that may ensure production actually commences. Your $7m MC is not even in the same league so comparisons like that have zero value.