You discount 52 oz per tonne gold because you don't know how much of it is there. This is just one very rich spot with a zone which is also not yet defined as to size/quality.

Windfall will remain a 'sleeper' until bulk samples, assays and underground probing with drills tell investors what these deposits add up to. At this time nobody at Noront knows what's there either, that's the whole point of spending 10 Million dollars, to find out.