Flin Flon chances Rockcliff Resources (100 kilometers north) recently published a PFS for two small VMS copper deposits. Accordingly, 2 x 1 million tons result in an NPV of CAD 113 million Rockcliff Announces Filing of PEA for Tower and Rail Project on SEDAR | Rockcliff Metals Corp. However, the projects are too far away from the Hudbay refinery, so Rockcliff has to build its own processing plant. This is exactly what Searchlight would not have to do if successful. So if Searchlight confirmed a VMS size of 1-2 million tons, which is normal by Flin Flon standards, the NPV would certainly be higher because capex would be eliminated.
PS: for Callinex the Rockcliff calculation means - if they actually find one of the larger VMS deposits like the 777 mine or the old Flin Flon mine (30,000 drill meters), then that is a mega project where conservatively one could probably apply a factor of 50 million CAD for each million tons. Let's hope that Callinex is successful. This will then automatically rub off on Searchlight, because the real estate prices for licenses will rise.