2022 FS had HD Cutoff of just 0.73 grams per tonThat's very low especially for the FS POG of $1625 US per ounce .
I had assumed 2 grams or so as the cutoff.
Richmont used 8.5 grams for its cutoff but POG was then $340 US.
Normally, as the price increases, a lower cutoff grade can be used, as the higher price means lower grades can then be economic .
So, there is plenty of room in the current FS update to use a higher cutoff grade which would boost the mined grade above 4.7 grams .
This would enhance high grading returns especially at a POG above $2100 US.
For example , using a 2.73 grams per ton cutoff would boost the mined grade to 6.7 grams per ton and boost the separated grade to be milled to about 10 grams per ton .
This will lower the amount of ore to be milled and increase gold recoveries , both of which would enhance the operating margin and thence the NPV..
FWIW