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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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here's my layman thoughts :
PEA assumes project is ready to go with permits etc and starts on the report date ? If project isn't permit ready then I agree there would be further discounts. This may or may not be offset with "potential " ore on the property not in the resource estimate used for PEA. 

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