SC is big and potentially highly profitable, but it is a modest change to Teck.

I was thinking that the value to Teck of reducing their overall copper price per pound could be higher than the value of just our project. Their latest quarterly results showed a price of $1.74, with credit for other metals, per pound of copper. If they added in the Schaft Creek numbers when they are operational it would reduce this number considerably and give an overall better result.

Last year Teck bought about $1.2 billion worth of shares back and erased them; this year they have arranged to do so again. If they had to buy us out with shares they could easily point to the number they have already bought back. Personally I would really like shares so that I could manage my taxes better.