I'm not certain your memory is serving us well. Please show us the data.
But, just for argument sake, suppose that were true, and as you recall, in "2006 we had M&I of about 1.2 million ounces".
In 2006, those 1.2M M&I would have been nearly worthless as compared to any of those 1.2M today, when having a PA behind them, and a PFS just ahead. Where the PFS may convert many of those M&I ounces into much more highly valued RESERVES.
Furthermore,
Tyhee's historical long-term track record for the cost (a cost paid for by dilution of it shares) of finding gold in the ground has been at about $20-$20 per ounce, at least since 2003 to 2009. With last year's addition to its resource, costing less than $10/ounce.
Cheers,
Baires