Here is my gestimate based on a starting SP of 3.8ctransport...

Here is my gestimate based on a starting SP of 3.8c

1. transport study —————— >30% 4.9c
2. scoping study———————> 20% 5.9c
3. met tests————————— > 5% 6.2c
4. Paterson report ——————> 5% 6.5c
5. chairman —————-———-> 40% 9.1c
6. jorc update—————-——--> 10% 10.0c
7. DFS—————-—————--> 50% 15.0c
8. offtake ——————————> 30% 19.5c
9. financing—————————-> 50% 29.0c
10. other research reports-———> 5% 30.5c
11. 5 year tax holiday—————> 2% 31.0c
12. 10% extra project interest —> 20% 37.0c

I hope it works out!