RE:RE:A comment that really caught me.it makes sense, getting the ground, running Geotech, siting drills and running the drill program to such an extent that you can prove a resource. The permitting, the equipment, the staff, it is all VERY expensive, better to buy what exists and get to mining right away.
A letter I sent to Kinross went pretty much directly to these points, they just paid a HUGE premium for Great Bear, better they go the extra mile to grab what exists and get to mining.