Scott, interesting food for thought. My thoughts:
1. The T&P divided over a large number of shares is only about 20 cents per share. Wait, did I just say only twenty cents? Not insignificant.
2. Good point, but I don't see any real financial value in this one.
3. You are bang on with your comment about the different time frame that the Chinese and other Asian economies consider. I see this point as being quite important.
There is also the unspoken value of the latest submission to the EUB, which is quite far through the pipeline, as I understand it. Again, this may not have a direct financial value, but it certainly makes Connacher look a lot more appealing.