I think it was Prospekt who brought it up before, but valuing it in the way you're valuing it (i.e. 25% of the deposit) is just...wrong. When Teck buys our portion, they're buying 100% of SC, not 25%. They don't just GET the 75% until they do everything. We still have it. They're just declaring their intention to EARN their 75%, via the option agreement. This has a LOT of clauses that add value beyond what our NPV is (and what makes this deal and investment better than just the economics). Namely the Teck Financing and the 4 year clause (a long with a few others, but those are the big 2). How much are those things worth? How much is it worth to get rid of is the bigger question - and THAT is where the value in us selling comes from JUST AS MUCH as the actual monster of a deposit.

In summary, there's a lot more value that we have than just 25% SC deposit, and trying to value us that way is foolish.

Disclaimer: I don't think we'll be getting as high as $8. It's a difficult thing to value intangibles.