They likely used 1% Insitu since the road is not built and there is still some uncertainty. This is how I bet they justify the lower value.

Wyloo and company know that this is worth 100x what they are paying for it. Similar to buying a piece of land for future development. The have the money to finance the entire project and realize that the natives will eventually come to some agreement with the government to push this project forward. 

If roads are announced, the value goes up to 5% Insitu and when the natives/government give their blessing, we are looking at 10%.

We know that the government is close and for the most part the natives are now on side, so it is only a matter of time.

I am holding out until we are at 10%, unless we shareholders are muscled out somehow.

THTH