numbers are realistic and very acceptable by other comparisons in the field, we have a port, power, much better than the TCK Chilean project.

The NTL is being built for SC, Red Chris etc. Looking at this politically, it would be a slap in the Gov'ts face if Teck rejected this project. Furthermore, CIC is wants more action in CANADA (CIC part owner of Teck).

Remember there is a copper shortage and TCK knows this. Where will copper be in 5 years, probably not at 3.25. Conservative BFS makes us very credible.

So the $3.25 number is considered "CONSERVATIVE"? Interesting, B.RoF just made a point about that being somewhat high relative to other project BFS releases (which I agree). But if this $3.25 is factoring in the near future copper shortages then it makes sense that Teck, Merit, Matt, Tetra Tech all agreed with that number. Nice.