I partially agree with it isn't too bad if they indeed do hit but I think your US$1.75M is translated to AUD$2.27M and wouldn't take in all the sundries: Air fares, accomodation, consultancy fee's, assays fee's, flyover fee's, directors time, purchase of excavator, barge fee's, ferry fee's in house wages, food, entertainment etc.
All the above IMO only