Assuming worst scenario where we are not successful in both PL...

Assuming worst scenario where we are not successful in both PL re-application and review process on Kolosori, and Tenement D, and all we have is ML on San Jorge, would anyone out there more learned in mining than I am be kind enough to give me an educated estimate of what a reasonable MC should be, assuming all the historic data present a true picture of its resources, including those published in August 2016, which were later retracted owing to technicality?