The reason that they multiply it by 4 is everyone assume CF owns 25% of SC.

Copper Fox OWNS the operating costs of SC currently. Liard Copper owns the majority 76%? of SC right now.

WHEN Copper Fox delivers the BF, they own that 76%.

For Teck to NOT go through all the hassle of ownership/operating rights, SC or the Liard shares should be all bought out.

My only counter argument on a high buy out is that a lot of people will be pissed to see Teck buy out a company at $5/share when the shares has been trading at 1.20s for the past year.

Most buy outs are 20-40% premiums. How can it go a sudden jump of 300-400%?

Thats where I see Arizona comes in. Teck buy SC at $x price. CF gets shares or cash for it to redistributed back to shareholders.