Fragglerock rightfully points out that $850 gold presents a negative NPV, and that is due in large part to a relatively high $541 operating cost. The PFS points out that $950 gold is modestly positive, and that current gold prices result in a robust NPV.

In their glory days South African miners had the biggest SP moves - in both directions - relative to a changing gold price. This is because their very deep mines result in very high operating costs. But when the gold price moved up, those SA stocks exploded due to the resultant very high leverage to a change in the gold price. If you are breakeven at $1000, a move from 1050 to 1250 results in a 5x increase in profits.

While financing IMO remains the biggest issue for Tyhee, clearly any increases in POG will reflect greatly on the NPV going forward. I'm not trying to argue that it's better to have a higher breakeven NPV, that would be absurd. But clearly this issue has been (and still is) reflected in the SP. A move in the POG will exponentially increase Tyhee's NPV, making it a more lucrative buyout target, JV candidate, or maybe even a conventional go-it-alone financing candidate (albeit a long shot).

Now I can have my beers.