The CSA global valuation of $1.8M for MACE appears poorly...

The CSA global valuation of $1.8M for MACE appears poorly calculated
Mace , average of around 60 meters wide for 1.1 km and 5 meters thick that has to be around 300k BCMs or 700K tonnes at 5 grams a tonne = 113k oz with guessing $300 a oz AISC so (1700-300) * 100k oz recovered = $140M and CSA reckon its only worth $1.8M

Or am I making too many assumptions ie it is not even in the JORC inferred resource category , however I am betting someone like Mark Creassy would not care and would just buy EXU if i its sole discovery was Mace and EXU had a cap of $20M .
Surely he would see the potential of mining a shallow 20 meter deep pit 1km long with a sledge mounted
ore sorter gold concentrate plant and toll treat at Edna May ??
So is mace really only worth 1.8M ?