Their price target is made up of the valuation under each 4 scenarios multiplied by their probability/weighting. It's just their way of risk adjustment for different commodity prices and development scenarios.
AN1 CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch
Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks