Isn't the Shaft Creek JV option agreement just a red herring?

Would Teck really want to JV with a Junior on such a huge project? with all the adjacent land its bought in it's own name.

Let's assume they would want to buy 100% of the Shaft Creek and rip up the JV agreement. Then doesn't this scenario imply the Copper fox own 100% for asset sale valuation purposes. Correct me if I am wrong but Teck has right of first refusal?

If they do wish to buy the whole this the the feasibilty is just a part of the story. There is an additional metal in the "Total Mineral Resource" they would have to value that is not reflected in the Feasibilty valuation such as:

Copper 5billion lbs , Gold 6m oz, silver 73m oz, Mol 297m lbs.

There are several ways you could value this on an acquiistion basis. You could use a multiple used from recent acqusitions to give you a rough estimate .

The Quellavello Copper Project has copper reserves of 7212 m tonnes of copper metal and 18% was sold to Mitsibuishi in 2012 for equivalent of between $777m to $888m. This project though has a higher grade.